The Venture Codex

Led · Equity · May 2012

Tamar Energy develops and builds anaerobic digestion plants that convert food and mixed organic waste into renewable energy. The company intends to deploy a UK network of over 40 anaerobic digestion plants to generate 100MW of green electricity over the next five years. Launched in February 2012, Tamar Energy is led by Executive Chairman Alan Lovell. The business is backed by a strong investor group including RIT Capital Partners plc, the Duchy of Cornwall, Fajr Capital, Sainsbury’s and others, with those backers contributing over £76.3m to establish the company. Tamar Energy has received funding to support development and construction of its planned plants.

Led · Equity · May 2012

Ignis Biomass generates renewable energy from sustainably sourced timber and supplies UK businesses and public sector organisations with local energy and waste-management solutions. The company focuses on reducing CO2 emissions through biomass-based heat and power. It is based in Richmond, UK. Ignis plans to use the new funding to construct a biomass energy plant in Wick, Scotland to replace oil-fired heat production for a district heating network. That district heating network is to be bought from the Highland Council. The article reports the company has received funding to support that project.

Led · Equity · May 2012

Micropelt develops and produces thin-film thermoelectric microchips that scavenge waste heat to generate electricity and replace or recharge batteries in wireless sensor networks and micro actuators. The microchip-sized devices target cleantech markets with applications in radiator valves, industrial automation and remote equipment monitors, and the company partners with semiconductor players and system integrators. Micropelt opened a thin-film thermoelectric production facility in June 2011 in Halle, Germany and employs 23 staff. The company has agreed distribution relationships with Arrow in Europe and Tokyo Electronic Device and Hitachi High‑Tech Materials in Japan to support commercialisation. Micropelt raised €6.5M to support market roll-out and global expansion, with funds intended to boost production capacity, increase volumes and reduce per-unit cost. Investors in the round include Ludgate Environmental Fund, Mitsubishi UFJ Capital, and existing shareholders IBG/Goodvent, KfW, L‑Bank and SHS.

Participated · Equity · Jul 2011

ECO Plastics is a Hemswell, UK-based company that recycles plastic bottles into food-grade recycled PET (rPET). Its core product is rPET for soft drink bottles. The company operates a Hemswell plant that currently houses 17 optical sorters and can produce up to 11 streams of plastics. ECO Plastics intends to use the £24m equity financing to double production of food-grade rPET and to extend its plant. The planned expansion will increase overall processing capacity from 100,000 tonnes to 140,000 tonnes of plastic bottles per year (equivalent to 2.8 billion bottles). The company is backed by Ludgate Environmental Fund, Close Brothers, Disruptive Capital and SAM Private Equity and earlier this year signed a joint venture with Coca Cola Enterprises.

Led · Equity · Apr 2010

Hightex Group is one of only two companies operating internationally that design and install large-area membrane roofs and façades, using environmentally friendly materials and innovative coatings to reduce energy costs. The company also owns SolarNext, which has developed a solar cooling system kit that can be retro-fitted to many structures and is managed by a controller that optimises multiple input sources. SolarNext has sold over 30 systems across residential to medium-sized commercial applications. Hightex’s project portfolio includes large-scale installations such as the passenger concourse of Bangkok International Airport and the Dolce Vita Shopping Mall in Lisbon. Ludgate Environmental Fund will work with Hightex to help realise SolarNext’s potential and expand its activities. Management says the company has returned to profitability, holds a record order book and has market forecasts that already secure revenues in 2010.