Carbon Trust Invests $6.5M in New Earth Solutions

Dec 14 2009 | 2:44pm ET

The Carbon Trust, an independent company established by the UK government, has invested GBP 4 million ($6.5 million) in the Dorset-based waste treatment and renewable energy specialist New Earth Solutions.

The money comes from a GBP 18 million ($29.3 million) fund established by the UK Department of Energy and Climate Change (DECC) to speed Britain’s transformation to a low-carbon economy. The Carbon Trust makes investment decisions for the fund, and New Earth is the fund’s first beneficiary.

New Earth raised GBP 5 million ($8.1 million) from the cleantech investment company Ludgate Environmental Fund Limited in September and hopes to raise a total of GBP 15 million ($24 million) in this current round of funding.

New Earth is looking to use gasification and pyrolysis (chemical change brought about by the action of heat) technologies to convert waste-derived fuel into electricity. The company’s first energy recovery power plant is expected to begin trading in 2010.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...