Set up by the Government to accelerate the move to a low carbon economy, the Carbon Trust hopes to support New Earths creation of a waste to energy business.
The firm hopes to implement gasification and pyrolysis technologies to generate electricity from waste-derived fuel. Its first energy recovery plant is set to open in the new year.
Advisors to CT Investments Carbon Trust Investment Partners partner Jonathan Bryers said: The waste industry in the UK is currently evolving from a logistics and landfill industry to one based on efficient resource management and energy generation we believe New Earth is well positioned to capitalise on this exciting opportunity.
New Earth managing director Chris Cox added: The Carbon Trust is a highly respected and high profile investor and will add significant value as we continue the expansion of our waste treatment and energy recovery facilities throughout the UK.
Furthermore, New Earth has also completed the second closing in its ongoing £15 million equity fundraising announced in August 2009 after Ludgate Environmental Fund added £5 million to the pot (See MRW story).This brings the current equity total to £9 million.