The Prince of Wales, investment banker Jacob Rothschild and supermarket Sainsbury’s are just three of the big names to have invested in Tamar Energy, a company that is raising £65m to produce energy from organic waste.
Tamar is in the process of developing a £65m network of anaerobic digestion (AD) plants over the next five years that will collectively generate over 100 megawatts (MW) of clean power.
According to Organic Power, AD is the “natural breakdown of organic materials into methane and carbon dioxide gas and fertiliser”. The resultant biogas can be used to produce energy through onsite engines or cleaned and pumped into the grid.
As well as receiving investment from some incredibly wealthy organisations, the innovative project has also been publicly backed by Government officials.
Energy and climate change secretary Ed Davey said that the plans are “crucial for keeping the lights on and emissions down in the UK in the coming decades”.
Meanwhile, environment secretary, Caroline Spelman, said, “This £65m investment shows there are great business opportunities in [AD] technology, creating heat and power to run homes and businesses and reducing the amount of organic waste that would otherwise lie rotting in landfill.”
In an attempt to reinforce its project, Tamar bought out Adgen Energy, which already has a selection of renewable energy plants across the UK.
Alan Lovell, Tamar’s executive chairman, said, “The underdevelopment of AD in the UK is principally driven by a historic lack of financing for the sector.
“Tamar Energy will be well capitalised by investors, with a pure focus on producing energy from organic waste, rather than as an adjunct to a waste management business.
“This is a game changing investment which will enable our existing team to capitalise on the substantial pipeline of projects that Adgen has developed – allowing us to rapidly achieve our scale objectives.”
One of the firms to have provided such investment to Tamar in its infancy is Sainsbury’s, the leading retail user of AD in the UK. Its chief executive, Justin King, said, “We will be working closely with our suppliers to ensure they have access to the new plants to help them reduce the environmental impact of their operations”.
The early signs are encouraging for Tamar, which only launched the project this week. Continued investment from similarly wealthy individuals and companies is essential to focus the UK on the renewable energy track.
But the difference isn’t just made at a corporate level. Individual and private investors can also contribute hugely to achieving a low-carbon economy.
If you’re interested in doing so, fill in our online form and we’ll help you get connected with a specialist ethical adviser.
Alternatively, get in touch with Good Energy, the UK’s only 100% renewable electricity provider, for practical advice on how to make your home more sustainable.
Picture source: University Hospitals Birmingham