Ludgate Environmental Fund (LEF) has paid £730,000 for a stake of 5.3 per cent in ‘green building company’ Hightex.
Ludgate Environmental Fund (LEF) has paid £730,000 for a stake of 5.3 per cent in ‘green building company’ Hightex.
Hightex designs and installs roofs and façades using environmentally friendly materials and special coatings which aim to help reduce energy costs. Its executive chairman Charles DesForges is on LEF’s advisory panel.
LEF will work with Hightex to help develop SolarNext, a wholly owned subsidiary of Hightex, which has developed a solar cooling system in kit form, able to be retro-fitted to many kinds of structures.
Nick Pople, director of LEF’s investment adviser Ludgate Investments, claims, ‘Buildings represent more than 20 per cent of global energy use and Hightex membranes can reduce that burden significantly.’
Germany-based Hightex recently an increase of 23.5 per cent in turnover to €20 million for 2009. The company, which has offices in the UK, North America and Australia, recently completed work on the retractable roof at Wimbledon Centre Court and the 2010 World Cup stadiums in Johannesburg.
Ludgate Environmental Fund Limited is a Jersey domiciled closed-ended investment company listed on AIM, with approximately £48 million of assets under management.
