Climate Change Capital Private Equity, a €200m fund dedicated to investing in green technology, is making a £6m investment in Renewable Zukunft, a Cambridgeshire-based company.
The capital will enable Renewable Zukunf to partner with farmers and other commercial agro-food organisations to develop anaerobic digestion plants, each of which will be capable of producing and selling 10m kWh of electricity per year to the National Grid - the equivalent of the annual power consumed by 2,000 homes.
Climate Change Capital Private Equity will take an undisclosed stake in the company and have a seat on the board.
Renewable Zukunft is using a proprietary biogas technology developed in Austria where it has been in use in twelve plants for a number of years.
Renewable Zukunft's business model is to enter into joint ventures with agricultural and food processing businesses that provide the required feedstock for the biogas plants. The methane produced by the degradation of energy crops, manure and other organic waste materials is used to fuel combined heat and power generation units to produce electricity and heat.
Renewable Zukunft's managing director, Tim Evans, said: 'This investment enables us to fund joint venture projects with third parties across the UK. The potential for biogas development in this country is substantial. The biogas industry (in the UK) is at least 10 years behind the well developed markets of Germany and Austria and we are keen to raise awareness and acceptance of this technology.'
'Such a system can be used by local authorities for waste management, by agricultural businesses, food processors and retailers as well as by communities looking for self-sufficiency,' he added.
Red Bull makes hydrogen fuel cell play with AVL
Formula 1 is an anachronistic anomaly where its only cutting edge is in engine development. The rules prohibit any real innovation and there would be...