Cleantech trio scoop £15m investment
Ludgate Environmental Fund (LEF) has invested more than £15m in a trio of biomass, anaerobic digestion (AD) and waste heat recovery businesses.
The largest chunk of finance went to Tamar Energy to part fund the development and construction of food and mixed waste AD plants, with the remaining investment coming from Sainsbury's, RIT Capital Partners, the Duchy of Cornwall and Fajr Capital.
This forms part of Tamar's ambition to create a UK network of more than 40 plants with a capacity to generate 100MW of electricity over the next five years.
German-based waste heat recovery company Micropelt GmbHm also benefited from investment, securing £5.3m to fund work on its thermal energy harvesting technology.
The third investment of £3.1m was secured by Ignis Biomass to fund the construction of a biomass energy plant in Wick, Scotland to replace oil-fired heat production for the district heating network.
LEF chairman John Shakeshaft, said: "We are pleased to make these three investments in high growth industrial cleantech companies. These deals represent diverse investment in critically important resource efficiency supporting sustainable economic growth."