Sustainable infrastructure investment firm Pioneer Point Partners’ Pioneer Infrastructure Partners fund is to acquire Esken Renewables, a UK-based supplier of sustainable waste-derived biomass fuel for £108m.
Esken Renewables is a wholly owned subsidiary of the London Stock Exchange-listed UK infrastructure company, Esken Limited. Established in 2009, Esken Renewables supplies 1.7 million tonnes of fuel to the UK biomass sector under long-term contracts. The majority of the renewable biomass fuel comes from waste wood which otherwise would be destined for landfill.
The capital used to fund the acquisition is being deployed in line with Pioneer’s sustainable investment strategy and supports its classification as an “Article 9” fund under the European Union’s Sustainable Finance Disclosure Regulation.
The fund has now completed seven investments and continues to deploy capital in line with its investment strategy, building on its successful track record in the lower mid-market, value-add sustainable infrastructure sector across Western Europe. Following its launch in 2020, the Fund held a €575m Final Close in February 2022, exceeding the initial €500m target.
