New joint venture to drive forward the development of the commercial 'waste to energy' market
Monday 24 September 2007Carbon Trust Enterprises and Scottish and Southern Energy plc announced a new joint venture to support InSource Energy Limited - a bio-waste to energy business created by the Carbon Trust. Scottish and Southern Energy has agreed to invest up to £2.7 million to acquire up to 40 per cent of InSource Energy plus up to a further £10.0 million to fund the company’s projects as it enters its next phase of development.
InSource Energy was created by Carbon Trust Enterprises, a subsidiary of the Carbon Trust, to drive forward the development of the commercial waste to energy market in the UK. InSource Energy is initially focusing on six sectors of the UK food industry, which currently produce around 5.6 million tonnes of biodegradable waste a year. It can develop, build, finance, own and operate waste to energy systems, allowing businesses to outsource waste and energy processes whilst benefiting from financial and carbon savings. It also offers an independent service that assesses the best fit technology for each customer’s needs. The initial projects will provide on-site anaerobic digesters to break down the food waste into methane, which will be captured and used to generate electricity and heat.