The New Earth Solutions Recycling Facilities Investment Sub-Fund has announced its first close after raising GBP10m since its launch last July.
The New Earth Solutions Recycling Facilities Investment Sub-Fund has announced its first close after raising GBP10m since its launch last July.
The fund, established to invest directly in New Earth Solutions’ recycling and waste management facilities in the UK, was set up in conjunction with the Premier Group, an Isle of Man-based investment fund provider.
David Whittaker, a director at Premier, says: ‘We are delighted to hit our first target during such difficult times. Despite the recession we are still seeing strong appetite to invest in the waste sector. Investors and their independent financial advisers have been monitoring the market for some time and recognise the potential for good financial returns from the waste and recycling market.’
Adrian Jones, finance director at New Earth Solutions, says: ‘We are very pleased that the fund has reached its first target. New Earth Solutions is poised for accelerated growth over the next five years as we grow a network of biodegradable waste treatment facilities throughout the UK and the fund will help support this.’
NES currently has two 50,000 tonne waste facilities operating in Dorset and Kent and recently acquired a former Bioganix facility in Gloucestershire.
The company was also granted planning permission to build a new plant in Avonmouth, Bristol early this month and is scheduled to begin construction of a new plant in Lutterworth, Leicestershire shortly.
NES is supported by waste management contracts with the councils of Bournemouth, Bristol, Kent, Dorset and Leicestershire.
In rolling out new waste facilities, NES will be supporting local authorities in their obligation to divert waste from landfill and increase levels of recycling and composting across the UK.
The New Earth Solutions Recycling Facilities Investment Sub-Fund is a sub-fund of the Premier Investment Opportunities Fund protected cell company and is available only to experienced investors.
The fund aims to provide investors with the opportunity to obtain long-term capital growth by investing in proven, effective and efficient waste management technologies employed at industrial facilities in the UK.
