Alternative Waste Solutions (United Kingdom) - Jan 2008

The Sustainable Technology Fund, a clean-technology focused venture capital fund managed by E-Synergy, has led a £2m investment into plastic recycling specialist Alternative Waste Solutions (AWS) in a first round of funding. E-Synergy contributed £1.5m to the financing, with NorthStar Equity Investors providing £400,000 through its Co-investment Fund and the balance coming from a private investor. The new capital will be used to develop the company’s technology to enable the conversion of waste plastic bottles into food grade quality pellets.

Company

Newcastle-based AWS currently operates the largest and most technically-advanced bottle reprocessing facility in the UK, producing PET and HDPE flake for customers in both Europe and the Far East. The company was established in 2000 and is profitable, currently employing more than 30 staff.

People

Andrew Stevenson led the investment for E-Synergy and will join the AWS board, with Marion Bernard representing NorthStar. Jonathan Short is the managing director of the company.

Advisers

Company - Sintons Solicitors, (Legal)Equity - Osborne Clarke, Robert Wood (Legal)

Sourced from: UK & Ireland unquote" 361 (Jan 2008)

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