The Sustainable Technology Fund (STF), which backs UK-based cleantech ventures, has made its first investment under new management.

The Sustainable Technology Fund (STF), which backs UK-based cleantech ventures, has made its first investment under new management.

The fund’s original manager E-Synergy has spun out a new company, Curzon Park Capital, to support the current portfolio and seek out new opportunities. Following the change in management, the fund made a follow-on investment in recycling company AWS Eco Plastics, alongside Robeco Private Equity, as part of a £2.8 million round.

Curzon Park is being chaired by Edmund Truell, the founder of private equity firm Duke Street Capital. Directors Sam Richardson and Cedraine de Boucard are joining from E-Synergy.

Says Truell, ‘[STF’s portfolio companies] are developing solutions not only to tackle environmental issues, but also to provide cost-effective and scalable answers to reducing inefficiencies in the resource supply chain.’

AWS Eco Plastics, which operates a recycling facility for plastic bottles in Lincolnshire, plans to use its extra funding to move into the production of food-grade plastic from recycled materials.