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

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…