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Kier buys £24.4 million stake in BiogenGreenfinch

Date: Wed, 8 Aug 2012 | Author: Paul Sanderson

Image for Kier buys £24.4 million stake in BiogenGreenfinch

Construction and property firm Kier has invested £24.4 million in anaerobic digestion specialist BiogenGreenfinch.

As a result of the investment, Kier will become a 50/50 partner with BiogenGreenfinch parent company Bedfordia Group.

This means that Kier will be able to offer a food waste service alongside its recycling solution that it offers after acquiring Pure Recycling in 2010.

With Kier’s investment, BiogenGreenfinch aims to be operating nine anaerobic digestion facilities by 2017. It currently operates two large commercial AD plants.

Kier Group chief executive Paul Sheffield (pictured) said: “We are delighted to have made the investment in Biogen, which again demonstrates Kier’s strategy of developing intelligent solutions for our clients and also our commitment to the green agenda.

“We see significant potential in an attractive market for the development of the business in the coming years.”

Bedfordia Group chairman John Ibbett added: “We are very happy to be working with Kier, which shares Biogen’s strong company values.

“Part of Biogen’s long-term strategy has been to identify a partner with which we can develop the proven commercial viability of our own AD technology.

“The joint venture will now be able to expand its network of plants across the UK, making clean green energy from food waste available to more end-users.”

The board of the new company will comprise three directors each from Kier and Bedfordia, plus two executive directors from BiogenGreenfinch. 

Category: Energy
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