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Private equity fund will target waste and recycling companies

The £125 million environment fund launched by the UK Innovation Investment Fund will target waste management and recycling companies among others.

The Environmental Innovation Fund, managed by Hermes Private Equity will start providing venture capital to help small growing businesses, start ups and spinouts - including those in pre-profit and pre-revenue stages - to innovate in low carbon and clean technology. 

It will also focus on investment opportunities in businesses with high growth potential that aim to increase the efficient use of renewable and non-renewable resources at all stages of production and consumption.

Hermes Private Equity chief executive Susan Flynn told MRW that investors will also consider prospects to supply capital to waste management and recycling companies.  She said: Increased awareness of environmental issues and policies to tackle climate change presents a real opportunity for investors and the innovative companies we will invest in.  At this stage in the economic cycle there are many forward looking companies who may not have funding available to them. 

The Hermes Private Equity Environmental Innovation Fund will ensure that those seeking finance for promising new environmental ventures will have access to a source of funding.   We have already identified a number of attractive investment opportunities and anticipate that the HEIF will begin to deploy capital shortly.

The UKIIF is also backed by investment from the Department for Business, Innovation and Skills; the Department of Energy and Climate Change and the Department of Health.

Independent research indicates the global market for low carbon and environmental goods and service was valued at £3 trillion in 2008/9 and could grow to an estimated £4.3 trillion by 2015.

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