Greensphere Capital backs Greenlight

Greensphere Capital committed £8m from its proprietary fund, contributing the remaining £8m from the UK Green Sustainable Waste and Energy Investments vehicle, which it manages on behalf of the UK Green Investment Bank. The bank was set up by the UK government to back green infrastructure projects.

The funding will support the construction of a 5.1MW capacity anaerobic digestion platform in Teesside, with a view to open further plants across the UK to create a six-strong platform.

Company
Greenlight will work in partnership with Earthly Energy, a managed service provider in the bio-fuels and bio-gas sector operating in the UK and internationally. Earthly Energy has been developing the platform for the past five years and has secured sites that are strategically placed to service the waste energy requirements of its blue-chip customer base.

Greenlight will also work with BioConstruct GmBH, a firm operating in the construction of turnkey bio-gas systems.

When fully operational, the six plants should deliver more than 30MW of electricity to the national grid and in doing so will process more than 550,000 tonnes of waste, most of which would otherwise go to landfill. Around 15,000 tonnes of CO2 emissions should be avoided per plant per annum.

The first plant will lead to the recruitment of 21 new full-time employees, while the construction will require 40 employees.

People
Vince Julier is a partner at Greensphere, with Divya Seshamani as managing partner and Jon Moulton as chairman. Shaun Kingsbury is CEO of the UK Green Investment Bank.

 

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