Private equity investor, Foresight Group, has acquired an operational portfolio of two large scale anaerobic digestion plants (AD) and seven composting assets for an undisclosed sum.
The transaction has seen the formation of a partnership between Foresight and Material Change Ltd and its parent company Heathpatch Ltd.
Sites
An aerial view of Material Change’s Decoy Farm AD plant, in Lincolnshire
The sites are located across East Anglia and the East Midlands. Between them, the AD plants provide 2.8MW of electrical power generation capacity, and capacity to process in excess of 95,000 tonnes per annum of energy crops, agricultural waste and industrial/commercial food waste.
The composting sites have a capacity to accept in excess of 155,000 tonnes per annum of primarily green waste to produce around 100,000 tonnes per annum of compost using open-windrow and in-vessel methods.
As part of the deal, Material Change has entered into long term feedstock supply, digestate offtake and management & maintenance services contracts.
Foresight
According to Foresight, with the acquisition, the company now has 40 waste projects, with waste processing capacity of more than 2 million tonnes per annum.
The Group said it has established a “market leading position” in AD, having invested previously into 18 greenfield projects across the UK.
“We hope that the combination of Foresight’s expertise, and our knowledge and experience in agriculture, waste processing, AD development and operation will make us a first choice for anyone considering the sale, or enhancement, of AD assets.”
Charles Course
Heathpatch
Commenting on the acquisition, Robert Guest, investment analyst at Foresight Group, said: “We are very much looking forward to working with Material Change to optimise the performance of these AD and composting sites and to building on our strong relationship with Heathpatch to complete further acquisitions together as part of our wider AD aggregation strategy”.
“Delighted”
Charles Course, chief executive of Heathpatch Ltd and chairman of Material Change, said: “We are delighted to have entered into this partnership with Foresight and look forward to developing and enhancing the acquired sites and also to acquiring further sites and assets.
“We hope that the combination of Foresight’s expertise, and our knowledge and experience in agriculture, waste processing, AD development and operation will make us a first choice for anyone considering the sale, or enhancement, of AD assets.”
According to its website, Material Change has over 15 years experience in recycling organic waste, with seven composting sites across the Midlands and East of England, all which are PAS:100 certified. The company also operates AD plants, including sites in Lincolnshire, Northamptonshire and Suffolk, which produce around 80,000 tonnes of digestate per annum.
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Source: letsrecycle.com Waste Managment
