An investment of £9.6 million has been made by Eternity Capital into a biomethane and electricity to grid anaerobic digestion (AD) facility in Cornwall.
The Fraddon Biogas facility will be in Fraddon and will convert local food waste and agricultural waste into gas and electricity. It will be one of the first in the UK to capture and transfer biogas energy from the process and then inject it into the gas grid.
Eternity Capital will fully fund the £9.6 million investment in equity and work in collaboration with the developer and operator Greener for Life.
F.L.I Energy will be responsible for the turnkey design and build the plant under the Engineer, Procure, Construct (EPC) contract.
The plant should be able to supply enough energy to power 2,500 homes each year.
Eternity Capital investment director Alon Laniado said: “Eternity Capital is excited to fund this anaerobic digestion facility which contributes to meeting the twin needs of waste treatment and renewable energy production, using an efficient AD process.
“This is Eternity’s second energy from waste investment and reflects Eternity Capital’s strategy to invest in a portfolio of such projects, as part of its wider investment focus on waste and environmental services.”
Greener for Life managing director Winston Reed (pictured) added: “Biomethane has many uses from making electricity, heat, cooking and vehicle fuel. We are now the largest developer of biomethane to grid plants in the UK and are working with companies globally to create wholly sustainable food, fertiliser and energy solutions.”