Foresight backs £111m materials recycling facility

The investment comes from the UK Waste Resource & Energy Investments Fund, a £350m vehicle that closed in April 2012. The Green Investment Bank is a cornerstone investor of the vehicle, which has deployed £78m in capital across eight investments.

According to Foresight, all investments made from the fund will be at least match-funded by private sector capital.

Zouk Capital and Levenseat Limited also committed equity to the construction.

Debt financing
Investec Bank provided senior debt financing to facilitate the transaction.

Company
The MRF will accept plastics, metals, paper and card for recycling and is forecast to recover one million tonnes of materials during its 25-year lifespan.

During the construction phase, the MRF will employ 100 people, dropping to 50 when the facility is operational from January 2017. Headquartered in Forth, the project will contribute to Scotland's zero-waste plan.

People
Colin Campbell is managing partner at Zouk Capital. Shaun Kingsbury is CEO at Green Investment Bank. James Samworth is a director at Foresight. Peter MacLaren is a director at Levenseat.

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• Topics
• UK / Ireland
• Infrastructure
• United Kingdom
• Foresight Group (Foresight Venture Partners)