Iona Capital has today announced the successful completion of the £7m investment in Biogen Waen Ltd, a joint venture company with Biogen, the UK’s leading anaerobic digestion company.
The awarded contract is for 15 years and has a secured waste stream provided by the Consortium of Denbighshire County Council, Conwy County Borough Council and Flintshire County Council.
This is Iona’s second investment in the development of Welsh AD infrastructure under the Welsh Government’s sponsored organic waste programme.
Biogen will construct and operate a new 22,500 tonnes per annum AD plant at Waen, St Asaph, Denbighshire to process the food waste supplied by the councils from local households and businesses together with additional third party food waste.
The AD plant will process food to generate 1MW of energy and produce a biofertiliser for local farmlands.
Iona Capital director Nick Ross said: “This is a second project we have completed in Wales and we are delighted to have worked successfully again in partnership with Biogen and the Welsh Government. These projects are the first local authority backed schemes focused on anaerobic digestion and we are pleased to have been able to support such an innovative regional infrastructure programme.”