Ludgate Environmental Fund invests in resource efficiency
Ludgate Environmental Fund Limited has three new investments in biomass, anaerobic digestion and waste heat recovery, each with the expectation of significant growth potential.
Ludgate Environmental Fund has committed £7.0 million to Tamar Energy Limited, to fund the development and construction of food and mixed waste anaerobic digestion plants that produce renewable energy.
Tamar Energy is developing a UK network of more than 40 plants with capacity to generate 100 MW of electricity over the next 5 years. The company has an advanced pipeline of projects as well as experienced engineering and construction partners with proven success in the UK.
Tamar announced in February that Sainsbury’s, a UK retail user of anaerobic digestion, is both an investor and strategic partner. Sainsbury’s is working closely with its suppliers to help them access Tamar’s plants and thereby reduce the environmental impact of their operations. Ludgate Environmental Fund is investing alongside RIT Capital Partners plc, the Duchy of Cornwall, Fajr Capital and other investors.
Ludgate Environmental Fund is also leading a £5.3 million growth capital round in waste heat recovery company, Micropelt GmbH based in Freiburg and Halle, Germany. Mitsubishi UJF Capital Co. Ltd is participating alongside Ludgate Environmental Fund and existing shareholders. Micropelt’s thermal energy harvesting technology uses waste heat to generate electricity, displacing batteries in automated equipment for a range of industrial and domestic applications. The company has strong partnerships with major semiconductor and system integrator players worldwide.
The third investment is £3.1 million in Ignis Biomass Limited. The funds are intended for the construction of a biomass energy plant in Wick, Scotland to replace oil-fired heat production for the district heating network which is to be bought from the Highland Council.