Investment in Pioneering Waste Management Firm
Aug 04 2008
According to Peter Gillatt, Managing Director, New Earth Solutions,
“This funding from Impax is crucial in helping us meet a core objective to develop six more operational facilities for local authority clients in the run up to 2009. The private equity injection also helps to lay the foundation for our planned flotation on AIM before the end of next year”.
New Earth Solutions has a 50,000 tonne per annum (tpa) facility operating in Canford, Dorset, supported by waste management contracts with Bournemouth Borough Council and Bristol City Council. Additionally, a new facility is under construction in Kent and
contracted to receive source segregated organic waste from Kent and Essex County Councils.
Jonathan Fogg, Investment Manager at Impax comments, “New Earth Solutions biological waste treatment and recycling technology is proven, effective and efficient. The company has a significant track record in delivering services to existing clients and a range of innovative, competitive and flexible packages for local authority clients looking for viable solutions in waste treatment and recycling technology.
As a result of fast approaching EU and UK targets on waste management legislation, private equity interest within the waste and recycling industry is flourishing. We believe our partnership with New Earth Solutions will help create significantly increased shareholder value”.
New Earth Solutions processes were researched and developed over a period of 7 years and according to the Environment Agency`s formal assessment are proven to divert over 80% of biodegradable municipal waste from landfill, whilst recovering dry recyclables.
The technology is housed in low impact buildings and wastes treatment is deliverable through processes which are acceptable to local communities.
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