Bridges Ventures invests in TEG Group

Alexandra Carrera
17 June 2010

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Bridges Ventures has backed TEG Group with £5.5m from its Bridges Venture Fund II.

The deal will result in the venture firm holding a 22.3% share of TEG. The capital will be used to facilitate its acquisition of UK recycling company, Simpro Limited.

Established as an organic waste recycling company, the TEG Group converts landfill waste into renewable energy. Its clients include local government authorities, waste management businesses and the agricultural industry. The company is partnered with UTS Biogas, a German company that specialises in anaerobic digestion technology.

The investment will allow TEG to increase its number of operating sites to 10 within the UK. It may also be used to fund its regeneration programmes.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Alexandra Carrera on +44 20 7004 7527 or alexandra.carrera@incisivemedia.com