£14m investment deal powers up green energy plant scheme
A green entrepreneur’s dream of building a waste-to-energy plant is coming to fruition after his company secured a £14m investment.
Mark Schofield’s Trinity Organics has won backing from Netherlands-based green energy investment firm Perpetual Next through its subsidiary Primco.
A team at Taylors Solicitors led by corporate partner Matthew Catterall advised Trinity Organics on the deal. The Taylors team included senior property associate Peter Marks and corporate solicitor Arun Dhaliwal.
Work is now under way to construct the anaerobic digestion facility on a three-acre brownfield site in Ellesmere Port.
The facility, which is expected to be up and running by the summer, will operate around the clock to digest 36,000 tonnes of organic waste each year and convert it into green gas to supply the National Grid.
The plant will produce enough biomethane to provide 41.5 million kilowatt hours of gas a year, which is sufficient to power 3,500 average-sized four-bedroom detached houses.
Using a novel implementation of technologies, the production technique that will be deployed at the plant will prevent the harmful release into the atmosphere of methane, one of the most potent greenhouse gases.
This will contribute to the UK’s drive to reduce greenhouse gas emissions under the Paris Climate Agreement.
Matthew said: “We are delighted to have advised Trinity Organics and Mark Schofield on the successful investment by Primco, which will bring Mark’s vision to fruition.
“We hope this is the start of a productive partnership, and that Mark and Primco can deliver additional operations throughout the UK to support the country’s growing green energy market.”
He added: “This deal demonstrates that, despite Brexit and much uncertainty in the market, the UK remains very attractive for international investment, including from the EU and especially in the green energy sector, in which we are seeing a significant increase in activity and requests from clients to advise upon.”
Mark Schofield said: “Having spent a number of years working to deliver this project, I am delighted to have completed this transaction with Primco that will allow my vision to become reality.
“I am excited to work with Primco to deliver not just this project but also other renewable energy schemes.
“Matthew and his team at Taylors have provided sound commercial advice to bring the deal to a successful conclusion, and I am extremely grateful for their support and advice.”
Perpetual Next is an investment firm with €500m under management. Its subsidiary Primco invests in, builds and operates waste-to-energy conversion plants in northern Europe and is focusing on the development of further anaerobic digestion projects in the UK.
Rene Buwalda, chief executive of Primco, said: “We are delighted to have completed our investment into Trinity Organics, which fits perfectly with our strategy and creates the opportunity to step into the UK market. We are very excited to see what Mark and his team can deliver in this project and beyond. We are also thankful to Matthew and his team at Taylors for delivering this project.”