ReEnergy raises £6.5m on AIM

Waste management, sustainable energy and water treatment group ReEnergy, which converts waste into fuel for power stations, has recently raised £6.5m after joining the Alternative Investment Market.

The UK company has acquired technologies that separate hazardous substances, and mixes the rest with industrial by-products to make a solid fuel or gas.

ReEnergy hopes to take advantage of stringent new regulations over global emissions and EU landfill directives.

England and Wales produce around 28 million tonnes of municipal solid waste (MSW) a year, of which almost 80 per cent is currently deposited in landfill. The EU requires a phased reduction of the biodegradable element of that waste landfill to 35 per cent of 1995 levels by 2020.

In addition, the Large Combustion Plant Directive will place strict limits on SOx, NOx and particulate emissions of power stations from 2008 while the Renewables Obligation Order states that 15 per cent of electricity must be derived from renewable sources by 2016.