Vertal Limited, a UK based waste technology business, has raised £5m from alternative asset investor Foresight.
The cash will be used to fund the completion of a recycling plant in South London, a 50,000 tonne commercial site that will enter full operation this year.
Vertal was founded in 2006 to develop a new type of recycling called aerobic digestion (ATAD) for commercial use. ATAD extracts high value fertilizer from the recycling of food waste. Around 15 million tonnes of food waste is sent to landfill every yeat, and with rising landfill tax rates and recycling targets, Vertal hopes to take advantge of the demand for alternative processing methods.
The company plans to build nine more plants, which will be able to process an estimated 5% of the food waste produced by the UK.
Giles Whitman, who led the transaction for Foresight, said: “This investment is further evidence of the role that Foresight is playing in helping the UK to meet its landfill diversion and recycling targets. Vertal is typical of the sorts of businesses we are looking to invest in, backing experienced management teams to build and operate networks of local recycling and power generation facilities, which we believe are more environmentally sustainable than larger centralised facilities.”