A syndicate of private investors led by entrepreneur John Wreford has bought a 45 per cent stake in cleantech company Eco-Solids for £750,000.

A syndicate of private investors led by entrepreneur John Wreford has bought a 45 per cent stake in cleantech company Eco-Solids International for £750,000.

Existing investor Low Carbon Accelerator (LCA) retains its own stake of 45 per cent but has written off an outstanding convertible loan to the company, which develops products for treating sludge and converting waste to energy.

In addition, both LCA and the new investors have agreed to take an aggregate ten per cent dilution to their shareholding to accommodate a management incentive scheme.

LCA, which raised £44.5 million when it floated on 2006, has invested a total of £1.6 million in Eco-Solids, in both equity and debt, since the company was founded in 2003.