Foresight will provide equity finance of up to £10 million, with the balance funded by debt.
Mouchel’s role will be to identify and assess suitable deals and support project development. It will use the experience it has gained from serving clients in the public sector and in industries subject to environmental legislation.
The fund will focus on small-scale, local plants in sectors such as waste processing, water and waste water management, recycling and renewable energy.
Andrea Gysin, Mouchel’s head of technology and investment, explains: ‘While there are many promising solutions which address the challenges around renewable energy and effective waste management, the utilities industry is crying out for more efficient infrastructure to support the roll-out of these solutions.’
Foresight has £150 million under management. It has recently raised a fund of £20 million (unconnected with the fund described above) focused exclusively on investments in cleantech infrastructure businesses.