Waste infrastructure fund launched for London
The London Waste and Recycling Board (LWARB) has launched a new £20million fund for waste infrastructure projects in the capital city and surrounding areas. The announcement presents a fantastic opportunity for circular economy and resource efficiency projects to get the investment foothold they need in the South of England.
Those of us in industry often call on the Government and venture capitalists to support the pioneering ideas that some of the profession’s most forward-thinking innovators have. We know the progress such initiatives will stimulate for the UK environment and indeed the wider economy, if only there was capital available to help get them off the ground.
So the advent of this new LWARB fund marks another brilliant chance to get some projects moving:
- A £6 million capital fund is available for new infrastructure projects in/around London, for example
- A £5 million corporate loan will help London waste companies upgrade their equipment or expand
- £1 million is available within a development loan fund, to support prospective projects in their earlier stages
- A £1 million venture capital fund is said to be being launched in 2015
- And an additional £7 million equity fund is also being explored.
Commenting on the news, UNTHA UK’s managing director Chris Oldfield said: “It’s great to see an organisation putting their money where their mouth is. The Mayor of London has been very vocal about his environmental strategy for the capital, and financial assistance is now in place to support companies that will help him achieve the city’s goals.
“This will undoubtedly enable a number of very promising waste and recycling projects to move forward.
“When speaking to new and existing clients, we hear that capital constraints and cash flow considerations are the factors commonly holding them back. That’s why we launched UNTHA Finance last year, because we knew how important financial support would prove to be. And once a client has invested in our shredding technology, they can begin to achieve the return on investment they desired, not to mention wider circular economy progress for the UK.
“However the launch of additional financial support such as this LWARB fund will help fuel further momentum.”
According to the announcement, the fund will be suitable for recyclate sorting and separation projects, secondary material reprocessing or remanufacturing initiatives, anaerobic digestion and composting facilities, thermal conversion technologies, circular economy initiatives, reuse and recycling waste collection infrastructure.
Chris concludes: “The article, as published on Resource Efficient Business, stated that 40 new waste facilities are required in London by 2050, and existing facilities will need replacing when they reach their end of life. This fund is therefore incredibly well timed, it seems.”
If you think that financial support would help your investment in a new waste shredder, then please contact UNTHA UK on 0845 450 5388 to discuss your requirements. Alternatively, you can email us via email@example.com or complete our short enquiry form.