UK waste-to-energy company New Earth Solutions Group accelerates plans through investor funding

20 April 2010

A series of funding commitments by investors has allowed UK waste treatment and renewable energy company New Earth Solutions Group to accelerate its plans, its energy director Alex Young told NewNet.

‘We started in 2002 and have had various third party investors come into the business,’ Young said.

In December, the company received $4m from low-carbon investor Carbon Trust Investments.

Following the investment by Carbon Trust, New Earth completed the second closing of its £15m equity fundraising announced in August 2009, raising £9m to date. This followed a £5m investment in September 2009 by AIM-listed clean technology investment company Ludgate Environmental Fund.

‘This funding has allowed us to accelerate the development of our projects. We have got internal resources that are in line with our ambition to grow,’ he said.

Also in December, the company achieved financial close on two projects with approaching £20m of investment, including about £13.5m of senior debt provided by Norddeutsche Landesbank.

‘The banking markets are extremely challenging but we successfully closed two projects in last year in that hard environment,’ Young said.

‘Fortunately, we are not at a point where we want to close one of our energy projects yet but it is something we keep a very close eye on.’

The company has projects in Kent, Leicestershire and Bristol, with an research and development operational base in Dorset, where it is also building a demonstration facility.

Copyright © 2010 NewNet

Tags: biomass

This story was published on Tuesday, April 20th, 2010 at 2:07 pm and is filed under Europe, biomass/biofuel, companies. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “UK waste-to-energy company New Earth Solutions Group accelerates plans through investor funding”

1. Alexa Timex says:

   21 April 2010 at 1:09 pm

   Does anyone know if New Earth Solutions Group’s activities extent to anaerobic digester plants on livestock farms?

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