The new AD plant will be one of the first such facilities in the UK to produce biomethane through a process which maximises capture and transfer of the biogas energy from the AD process and which can then be injected into the mains gas grid. Eternity Capital will fully fund the £9.6m investment in equity and work in collaboration with the developer and operator Greener for Life.
“This Anaerobic Digestion facility contributes to meeting the twin needs of waste treatment and renewable energy production, using an efficient AD process” said Alon Laniado of Eternity Capital. “This is Eternity’s second energy from waste investment and reflects Eternity Capital’s strategy to invest in a portfolio of such projects, as part of its wider investment focus on waste and environmental services.”
The plant, near Fraddon in Cornwall, will convert organic materials, including local food waste and agricultural waste, into gas and electricity, helping Cornwall to feed its organic wastes into production of bioenergy. Over its expected 20 year lifetime, the new plant is forecast to supply enough renewable energy to power over 2,500 homes each year.
F.L.I Energy Ltd will be responsible for the turnkey design and build the plant under an engineering, procurement and construction (EPC) contract.
Eternity Capital is a specialist group that provides funding dedicated to waste recycling and waste-to-energy investments. It focuses on building a portfolio of UK and international investment opportunities with high growth potential and which operate in segments that contribute to delivering the EU waste and environmental targets.
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