Ludgate splashes over £14m into energy projects
UK investment company Ludgate Environmental Fund (LEF) has put in a total of £14.1 million (€17.3 million) across three companies that deal in anaerobic digestion, biomass and waste heat recovery.
As part of a £76.3 million project by Tamar Energy, LEF will invest £7 million to help it fund developments of food and mixed waste anaerobic digestion facilities that generate renewable energy,
A further investment of £3.1 million in Ignis Biomass, via a mixture of preferred equity and convertible loan notes, sees LEF take a majority stake in the company. The money will help construct a biomass energy facility in Wick, Scotland.
And another £4.1 million in growth capital went to German waste heat recovery company Micropelt as it looks to raise £5.3 million as part of a fundraising plan.