Waste treatment and renewable energy company New Earth Solutions Group has topped £50 million in fundraising since creating an investment fund two years ago.

Waste treatment and renewable energy company New Earth Solutions Group has topped £50 million in fundraising since creating an investment fund two years ago.

New Earth Solutions launched the open-ended investment company, the New Earth Solutions Recycling Facilities Investment Sub-Fund, in partnership with Isle of Man-based fund manager The Premier Group.

The sub-fund was created to reduce the company’s reliance on bank debt when building new water waste treatment and renewable energy facilities.

New Earth Solutions managing director Chris Cox says since mid-2008, when the sub-fund was launched, the company has grown from one site to four with a combined processing capacity of more than 220,000 tonnes of waste a year.

He says a fifth site, at Avonmouth, near Bristol, will provide another 200,000 tonnes a year in capacity and become operational in April next year.