The UK waste management industry’s first investment fund has today topped £50m, monthly subscriptions nearing £3m.
The New Earth Solutions Recycling Facilities Investment Sub-Fund is run by The Premier Group (Isle of Man) and UK waste treatment and renewable energy company New Earth Solutions Group.
It operates in sterling, dollars and euros and was launched on the back of UK and EU commitments to reduce Britain’s reliance on landfill. With local authorities looking for more cost-effective ways to deal with residual waste, the fund is intended to give them “the opportunity to have a facility up and running and delivering landfill diversion results in their region without dipping into the public purse”.
Premier Group director David Whitaker said: “The investment fund is experiencing growing interest from UK and overseas investors who recognise that it offers growth potential and diversity if held within their investment portfolio or pension fund, as well as being environmentally friendly. Monthly subscriptions are now approaching the £3m mark, equating to broadly £35m per annum.”
In just over two years New Earth Solutions has grown from a single site to having four operational facilities with a combined processing capacity of over 220,000 tonnes of waste a year. A fifth site at Avonmouth, near Bristol, will provide another 200,000 tonnes per annum of capacity once it becomes operational next April.