InSource Energy (United Kingdom) - Oct 2007

In a round of seed funding, Scottish and Southern Energy’s new corporate venturing vehicle SSE Venture Capital Ltd has made an investment of up to £2.7m in InSource Energy, a new bio-waste-to-energy business created by the Carbon Trust, in return for an equity stake of up to 40%. The deal, supported by a project finance agreement from SSE of up to £10m, was sourced through an existing relationship between the Carbon Trust and Scottish and Southern Energy.

Company

InSource Energy is a new company created by Carbon Trust Enterprises, a subsidiary of the Carbon Trust. The company uses technologies such as biomass boilers and anaerobic digestion, as well as combined heat and power units, to create tailored, on-site waste management solutions for UK food and drinks manufacturers. This enables companies to significantly reduce their waste output and emissions, increase cost effectiveness and generate sales from the creation of by-products such as digestate for fertiliser.

People

Stuart Deed and Melissa Hope led the deal for Scottish and Southern Energy, while Ian Cooke represented Carbon Trust Enterprises. Deed and Cooke will join the InSource board.

Advisers

Equity - Burges Salmon, Richard Spink (Legal)Equity - Dundas & Wilson CS LLP (Edinburgh), Nadeem Meer (Legal)

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