Private equity's stake in compost firm
The firm invested 5.5m in the company listed on London's Alternative Investment Market (AIM), through a private placement. "It's well run and needed capital for medium-term expansion," said Bridges Ventures' Ian Hislop.
TEG Group composts food and garden waste using a patented technology. The disposal of such waste involves health and safety rules allowing the company to charge gate fees which are its main source of income.
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Hide AdEnvironment minister Caroline Spelman said on Tuesday the new coalition government wanted to divert as much waste as possible from landfill, in a zero waste drive.
TEG Group is collaborating with Germany's UTS Biogastechnik GmbH to widen feedstocks to process less solid materials using anaerobic digestion (AD) technology, capturing methane to generate electricity.