Lafarge compost partner launches investment fund
New Earth Solutions, Lafarge Aggregates’ partner in creating a proposed recycling and composting facility at its Cotesbach landfill site, has launched a new fund in partnership with Isle of Man-based investment firm Premier Group.
The New Earth Solutions Recycling Facilities Sub-Fund will invest initially in the company’s one operational facility in Dorset and contribute towards the construction of the 50,000tonne a year facility at Blaise Farm in Kent.
However, as new planning permissions are granted, the fund is designed to “…invest directly or indirectly in recycling facilities operated by the New Earth Solutions Group,” the fund’s supplementary memorandum states. Each plant costs around £10million to construct.
The fund follows £4million investment in New Earth Solutions by green investment firm Impax earlier this year. This was the company charged with managing WRAP’s Recycling Fund, which closed two years ago after failing to find investments.
The New Earth Solutions Recycling Facilities Sub-Fund will invest initially in the company’s one operational facility in Dorset and contribute towards the construction of the 50,000tonne a year facility at Blaise Farm in Kent.
However, as new planning permissions are granted, the fund is designed to “…invest directly or indirectly in recycling facilities operated by the New Earth Solutions Group,” the fund’s supplementary memorandum states. Each plant costs around £10million to construct.
The fund follows £4million investment in New Earth Solutions by green investment firm Impax earlier this year. This was the company charged with managing WRAP’s Recycling Fund, which closed two years ago after failing to find investments.
