This is a 2x2 waste recycling plant and is a more efficient way to get rid of your Solid Waste produced by your workers. It places a garbage truck on the road.
Note that if you build a few of these, keep an eye on your Resource Monitor in the Game Interface. Make sure that Solid Waste is always showing as a red negative entry, such as -500. You can then import Solid Waste in your Ships as a Resource from The Market to make money. Wait for a price of $3 to import it.