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Credit: 22 February 2012
Tamar Energy, a newly launched UK company focused on generating electricity from organic waste, is planning to develop a network of over forty Anaerobic Digestion (AD) plants able to generate 100MW of electricity over the next five years.
According to the start-up, it is backed by a strong investor group, prepared to pump in over £65 million to establish the business.
The company said that there is a significant opportunity for AD to play an increased role in the UK's green energy market, where it is currently under-developed with only 1% of the number of plants in Germany.
Alan Lovell, chairman of Tamar Energy explained that the underdevelopment of AD in the UK is principally driven by a historical lack of financing for the sector.
According to Lovell Tamar Energy will be well capitalised by investors, with a pure focus on producing energy from organic waste, rather than as an adjunct to a waste management business.
The company said that its newly formed project brings together UK and international blue chip partners and investors whose input and expertise will be critical in developing the business.
The investor group is led by RIT Capital Partners plc and Fajr Capital, alongside the Duchy of Cornwall, Lord Rothschild's Family Interests, Sustainable Technology Investments, Low Carbon Limited, the management team of Tamar Energy and other private investors.
Fajr Capital is an international investment firm backed by a prominent set of shareholders including the Abu Dhabi Investment Council, the Government of Brunei Darussalam, Khazanah Nasional of Malaysia and the Al Subeaei Group.
Another significant investor in the business is supermarket giant, Sainsbury's, which is also the strategic partner, providing its expertise and experience as a major user of AD.
Justin King, chief executive of J Sainsbury explained its position:
"We will be working closely with our suppliers to ensure they have access to the new plants to help them reduce the environmental impact of their operations, a key strand of our 20 by 20 Sustainability Plan. With the support of our suppliers we are very confident that this new venture will be a success."
Tamar said that its position in the market will also be strengthened by the acquisition of Adgen Energy - a renewable energy project development company - which has an advanced pipeline of projects and a management team that includes the previous CEO of BiogenGreenfinch, an AD specialist.
"This is a game changing investment which will enable our existing team to capitalise on the substantial pipeline of projects that Adgen has developed - allowing us to rapidly to achieve our scale objectives," added Lovell.
The project has also been endorsed by the government. Energy and Climate Change Secretary Edward Davey commented: "This is the sort of project that will be crucial for keeping the lights on and emissions down in the UK in the coming decades. Getting new investors to come into the clean energy market is one of my priorities."
Environment Secretary Caroline Spelman concluded: "This £65 million investment shows there are great business opportunities in this technology, creating heat and power to run homes and businesses and reducing the amount of organic waste that would otherwise lie rotting in landfill."
Tamar Energy, a newly launched UK company focused on generating electricity from organic waste, is planning to develop a network of over forty Anaerobic Digestion (AD) plants able to generate 100MW of electricity over the next five years.
According to the start-up, it is backed by a strong investor group, prepared to pump in over £65 million to establish the business.
The company said that there is a significant opportunity for AD to play an increased role in the UK's green energy market, where it is currently under-developed with only 1% of the number of plants in Germany.
Alan Lovell, chairman of Tamar Energy explained that the underdevelopment of AD in the UK is principally driven by a historical lack of financing for the sector.
According to Lovell Tamar Energy will be well capitalised by investors, with a pure focus on producing energy from organic waste, rather than as an adjunct to a waste management business.
The company said that its newly formed project brings together UK and international blue chip partners and investors whose input and expertise will be critical in developing the business.
The investor group is led by RIT Capital Partners plc and Fajr Capital, alongside the Duchy of Cornwall, Lord Rothschild's Family Interests, Sustainable Technology Investments, Low Carbon Limited, the management team of Tamar Energy and other private investors.
Fajr Capital is an international investment firm backed by a prominent set of shareholders including the Abu Dhabi Investment Council, the Government of Brunei Darussalam, Khazanah Nasional of Malaysia and the Al Subeaei Group.
Another significant investor in the business is supermarket giant, Sainsbury's, which is also the strategic partner, providing its expertise and experience as a major user of AD.
Justin King, chief executive of J Sainsbury explained its position:
"We will be working closely with our suppliers to ensure they have access to the new plants to help them reduce the environmental impact of their operations, a key strand of our 20 by 20 Sustainability Plan. With the support of our suppliers we are very confident that this new venture will be a success."
Tamar said that its position in the market will also be strengthened by the acquisition of Adgen Energy - a renewable energy project development company - which has an advanced pipeline of projects and a management team that includes the previous CEO of BiogenGreenfinch, an AD specialist.
"This is a game changing investment which will enable our existing team to capitalise on the substantial pipeline of projects that Adgen has developed - allowing us to rapidly to achieve our scale objectives," added Lovell.
The project has also been endorsed by the government. Energy and Climate Change Secretary Edward Davey commented: "This is the sort of project that will be crucial for keeping the lights on and emissions down in the UK in the coming decades. Getting new investors to come into the clean energy market is one of my priorities."
Environment Secretary Caroline Spelman concluded: "This £65 million investment shows there are great business opportunities in this technology, creating heat and power to run homes and businesses and reducing the amount of organic waste that would otherwise lie rotting in landfill."
Read More
UK Anaerobic Digestion Industry on a Role Says WRAP Report
WRAP has published a report t finds that there are currently 214 AD facilities operating in the UK with a combined capacity of 5 million tonnes. The total installed generating capacity is 170 MW of electricity with plenty of room for rapid expansion.
What's Stopping AD Supplying 1% of UK's Power?
Feedstock security, public perception and finance are the three interlinked foundations that will be key to Anaerobic Digestion (AD) achieving its potential in the UK market.
UK Food Waste Firm Spends £40 Million on Two AD Plants
PDM is planning to invest £40 million in developing its network of ReFood Anaerobic Digestion facilities during 2012.
UK Anaerobic Digestion Industry on a Role Says WRAP Report
WRAP has published a report t finds that there are currently 214 AD facilities operating in the UK with a combined capacity of 5 million tonnes. The total installed generating capacity is 170 MW of electricity with plenty of room for rapid expansion.
What's Stopping AD Supplying 1% of UK's Power?
Feedstock security, public perception and finance are the three interlinked foundations that will be key to Anaerobic Digestion (AD) achieving its potential in the UK market.
UK Food Waste Firm Spends £40 Million on Two AD Plants
PDM is planning to invest £40 million in developing its network of ReFood Anaerobic Digestion facilities during 2012.
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