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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of