Recycling fund helps finance further waste management facility in Kent
The New Earth Solutions Recycling Facilities Investment Fund (the "Fund"), which invests directly in New Earth Solutions' ("NES") recycling and waste management facilities in the UK, is pleased to announce that a second plant is now open and operating in Kent.
Using investment from the Fund, the new plant at Blaise Farm Quarry, will process up to 50,000 tonnes of waste a year from the local community. It will produce a range of high quality composts that will be widely used across agriculture, land remediation and regeneration activities in the surrounding area.
The plant has a minimum 15 year contract with Kent County Council with the option for a further five year extension.
Dave Connor, a Director at Premier, said: "Local Authorities need to use companies with alternative methods to landfill in order to meet strict targets and avoid penalties. This, coupled with incentives for the recovery of resources and the generation of sustainable energy, presents significant opportunities to waste management companies with proven, affordable technologies such as New Earth Solutions."
"We have seen very good inflows into the Fund since launch in July. Over five months we have raised a total of £7.25 million and £3 million of that was raised over the last two months. Experienced investors have recognised the waste sector as a safe haven during the global financial storm."
Adrian Jones, Finance Director of NES, said: "We are very pleased to be working in partnership with Kent County Council and we are delighted to be putting the Fund to good use so quickly. As the Fund size grows NES will be able to help accelerate the development of sustainable waste management practices in the UK by rolling out advanced waste treatment facilities"
NES builds and operates specialist waste treatment facilities designed to reduce the amount of waste going to landfill. It has a range of innovative, competitive packages for local authority clients looking for viable solutions in waste treatment and recycling technology.
Current local authority clients include Bournemouth Borough Council, Dorset County Council, Bristol City Council, Essex County Council and Leicestershire County Council. Current private sector clients include MacDonald's Corporation and Asda Stores plc.
In 2007 NES secured a £50 million finance package from the full service commercial bank Norddeutsche Landesbank. In February 2008 NES received an equity investment of £4million from Impax Asset Management, the specialist environmental investment company.
NES's key technology is the Advanced Bio Stabilisation System. This high temperature composting process and use of sophisticated air handling equipment, prevents odour or emissions of bio-aerosols normally associated with traditional biological waste treatment processes. In addition to the treatment of biodegradable wastes, NES technology captures other recyclables such as plastics, glass, ferrous and non- ferrous metals, all helping with the meeting of statutory recycling targets.
The UK is currently the second worst waste offender in Europe with over 75% of all "black bag" waste ending up in landfill sites. Research undertaken by the Local Government Association shows that UK households sent 22.6 million tonnes of rubbish to landfill in 2004/2005 (the most recent year for which compound figures are available across the EU).
About the Fund:
The New Earth Solutions Recycling Facilities Investment Fund is a sub-fund of The Premier Investment Opportunities Fund Protected Cell Company plc and is available only to experienced investors.
An investment into the Fund provides an opportunity to participate in a market not normally available to the individual investor, by investing in the development and subsequent trading performance of the recycling waste management systems of New Earth Solutions Limited.
The investment objective is to provide investors with long term growth by investing in the development and subsequent trading performance of industrial facilities incorporating recycling waste management systems in the UK. The Fund is administered by IFG Fund Administration (IOM) Limited which is licensed by the Isle of Man Government Financial Supervision Commission.
Fund Criteria:
100% of the subscription is applied to purchase shares
Monthly dealing at a minimum investment of £10,000 with additional investments or via life offices reduced to £5,000
Listed on the Channel Islands Stock Exchange
The long-term investment returns cannot be guaranteed but are anticipated to be in the range of 12%-15% per annum
Exit penalties from 8% reducing by 0.40% per quarter to 0% over 5 years - ON EARLY REDEMPTION ONLY and 5% can be withdrawn free of exit penalty per year
Annual Management Charges: 1.5%
For more information on the Fund, please visit: www.newearthrecyclingfund.com