Green energy start up secures £65million funding

February 23, 2012 by  
Filed under Green Energy News

A start-up company that aims to develop a UK network of more than 40 anaerobic digestion plants has secured £65million in funding.

Tamar Energy, which is focused on producing energy from organic waste matter, expects to generate 100MW of electricity over the next five years from its anaerobic digestion (AD) plants.

AD uses proven technology to convert organic waste into energy, and is said to provide many benefits compared to other alternative energy technologies. The biogas output is rich in methane and can be used either in a local generating plant to produce electricity, or cleaned and injected into the gas grid.

Energy and Climate Change Secretary Edward Davey said: “This is the sort of project that will be crucial for keeping the lights on and emissions down in the UK in the coming decades. Getting new investors to come into the clean energy market is one of my priorities. The consortium behind Tamar is a prime example of this, combining familiar high street names with big international investors. Energy from waste has the potential to make a substantial contribution to our renewable energy targets and so I look forward to seeing Tamar’s plans come to fruition.”

Tamar’s backers include The Prince of Wales, financier Jacob Rothschild and J Sainsbury. Sainsbury’s announced yesterday that it is investing £2m in Tamar and said it would encourage its suppliers to use the sites to cut down waste in the supply chain. “Sainsbury’s is the UK’s leading retail user of AD so we are delighted to be an investor and strategic partner of Tamar Energy,” said Justin King, the supermarket’s chief executive.

“I want the UK to show leadership in anaerobic digestion and this new partnership will set us on that course,” added Environment Secretary Caroline Spelman. “This £65m investment shows there are great business opportunities in this technology, creating heat and power to run homes and businesses and reducing the amount of organic waste that would otherwise lie rotting in landfill. I wish Tamar Energy and their partners every success”.

Comments are closed.