Dorset-based New Earth Solutions has proved that rubbish is big business by gaining a £50 million finance package from commercial bank Norddeutsche Landesbank (Nord LB) to develop new waste treatment facilities across the UK.
The finance package has already been utilised on two key projects, the mechanical biological treatment facility in Dorset and Kent. As a result of the Nord LB finance package, New Earth Solutions is planning to roll out five other treatment facilities across the UK.
Nord LB head of waste and environmental services Mathias Pahlke said: The banking sector appears to be undergoing a noticeable boom in investment in progressive types of waste processing technologies. New Earth Solutions non-thermal biological facilities mark an exciting new phase in waste management services and combined with a robust and proven business model are highly significant in their potential to deliver a long term solution to current industry and local government wide challenges.
New Earth Solutions finance director Adrian Jones added: This is a competitive sector but we have researched and developed an innovative solution to current waste management challenges with proven results. We value the support of Nord LB and anticipate that we are now on our way to building up a network of facilities on behalf of local authority and commercial clients.
This package will help us deliver significant processing capacity as part of our goal of being one of the few proven solutions offering innovative and competitive packages to our clients. Ultimately this will enable us to reach our target of recycling up to 2.5 million tonnes of municipal and commercial waste per annum by 2013.
Image: New Earth Solutions Dorset site