An environmental investment fund has announced £14m backing for developments in biomass, anaerobic digestion and energy-from-waste.
Ludgate Environmental Fund has committed £7m to Tamar Energy, which is developing a UK network of more than 40 food and mixed waste anaerobic digestion plants with the capacity to generate 100MW of electricity over the next five years.
Tamar announced in February that Sainsbury’s was both an investor and a strategic partner. Ludgate is investing alongside RIT Capital Partners, the Duchy of Cornwall, Fajr Capital and others.
It is also backing the waste heat recovery company Micropelt, which is based in Freiburg and Halle, Germany, with £4.1m.
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 £3.1m for Ignis Biomas, towards 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.
Chairman of Ludgate Environmental Fund 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.”