Expressions of Interest are being sought by the London Waste and Recycling Board (LWARB) for organisations seeking a slice of its new £20 million waste infrastructure programme.
Compared to previous calls, the new infrastructure fund offers a wider variety of investment opportunities suitable for different development stages. Options include:
- A £6 million capital fund for new infrastructure projects in or around London
- A £5 million corporate loan fund for existing waste companies in London seeking to expand or upgrade their equipment
- A £1 million development loan fund to support prospective projects in their earlier stages
- A new £1 million venture capital fund will be launched next year, and LWARB will also explore opportunities for a further £7 million investment in a new equity fund.
LWARB only finances projects which tackle London’s waste and meet the environmental requirements of the Mayor of London’s waste strategies.
Suitable projects could include recyclate sorting and separation, secondary material reprocessing or remanufacturing, anaerobic digestion and composting facilities or thermal/chemical conversion technologies.
For this call, LWARB will also consider supporting projects based on circular economy technologies, as well as reuse and recycling waste collection infrastructure.
LWARB chair Richard Tracey said: “The Mayor of London’s Infrastructure Investment Plan has identified the need for an additional 40 new waste facilities in London by 2050 as well as replacing existing facilities as they reach the end of their life. LWARB’s funding pot will play a critical role in supporting waste infrastructure development and is vital to the treatment of current and future waste generated in London.”
Over the last four years, LWARB has invested around £30 million in waste infrastructure including plastic bag recycling company Plasrecycle, TEG Biogas’ anaerobic digestion facility and the PET bottle recovery plant set up by Ecotech (pictured).