The company is adopting a “finance, build and operate” approach to new in-vessel composting and residual treatment plants, to take through every stage of establishing the new facilities.
 New Earth is near to completing an expansion at its biological treatment plant near Poole |
Law firm Bevan Brittan LLP has now been brought in to provide legal advice on property acquisitions and contract negotiations, while finance specialists BDP Stoy Hayward LLP will help raise money for new plants.
New Earth, part of waste firm WH White plc, believes the move could ultimately lead to new treatment facilities around the UK processing as much as 2.5 million tonnes of municipal waste each year.
The company's first plant, near Wimborne in Dorset, has been converted to treat mixed “black bag” residual waste through an MBT-style combination of physical separation processes and biological treatment. The plant is processing waste from Bournemouth borough council, and New Earth is close to completing an expansion of the facility to an annual treatment capacity of 50,000 tonnes.
The company is also working with Kent county council to establish a 25,000 tonne-capacity in-vessel composting plant.
Finance
New Earth is now in a competitive bid to roll out their waste processing “Fully Enclosed Dynamic Composting” technology across the UK, the company said.
New Earth finance director Adrian Jones said: “Since developing the facility in Dorset, several banks and financial organisations have expressed an interest in taking us forward financially, and in helping us roll out further facilities throughout the UK. We feel that an optimum financing facility is key if we are to help Local Authorities overcome the challenge of meeting compulsory LATS and BVPI targets on time.”
BDO Stoy Hayward LLP corporate finance partner Michael Ware, who will be working to raise “significant debt facilities” for New Earth, said: “We have been involved in raising funding for a number of different disposal technologies but in our opinion, New Earth have a very strong competitive advantage in the market place. We have already had significant interest from a number of banks and are confident in achieving a competitive finance package.”
Over four years of research has gone into New Earth's technology, which is currently undergoing tests by the Organic Research Agency to calculate its precise diversion rates with regard to the Landfill Allowance Trading Scheme (see letsrecycle.com story).
Legal
Bevan Brittan LLP will provide New Earth with expertise in property acquisition and contract negotiations with local authority clients, construction companies, and banks. Commercial property lawyer Peter Scott and Nigel Campbell, who has particular local authority and waste management experience, will lead the work for New Earth.
Mr Campbell said: “From the work that we are doing across Local Authority and Waste Management contracts for authorities, contractors and funders, the concept of proven composting technology with low planning risk and exceptional environmental credentials is highly compelling.”
Register for free to comment