UK waste treatment and renewable energy group New Earth Solutions has raised almost £20 million for two new projects.
UK waste treatment and renewable energy group New Earth Solutions has raised almost £20 million for two new projects.
The sum includes £13.5 million of senior debt provided by German commercial bank Norddeutsche Landesbank.
The fundraising allows New Earth to begin work on its fourth operational site in Leicestershire. The waste treatment site, which will begin to accept municipal rubbish from Autumn 2010, will extract recyclables and convert biodegradable material to a compost-like substance.
New Earth will use part of the money for the refinancing of its waste treatment facility in Gloucestershire, which it acquired in February this year.
Each site will have a capacity of around 50,000 tonnes of waste a year.
New Earth Solutions consists of waste specialist New Earth Solutions and renewable energy company New Earth Energy, both of which have proprietary technology for processing waste.
