JLEN Environmental Assets buys remaining 30% of Surrey-based Bio Collectors Holdings
JLEN Environmental Assets Group Limited has taken full control of Mitcham, Surrey-based waste recycling firm Bio Collectors Holdings (BCH) by buying the remaining 30% shareholding it did not already own for £8 million.
Investment group JLEN said the move was expected to deliver "attractive" returns for shareholders and consolidate its control of BCH allowing it to deliver "operational synergies across its portfolio of food waste AD plants".
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BCH holds the rights and operational assets of an anaerobic digestion (AD) facility in Mitcham, which was commissioned in 2013, and a Bio Collectors waste collections business.
In December, 2019, JLEN acquired a 70% interest in the company and agreed that after an initial holding period it would buy the remaining 30%.
"We are pleased with this follow-on investment which we view as value accretive to JLEN's portfolio over the long term," said Ed Warner, chair of JLEN.
"We view the role of food waste anaerobic digestion as strategically important in not only helping to decarbonise our energy and transport systems through the production and usage of biogas but also contributing to the diversion of waste away from landfill."
The AD plant produces mainly biomethane to be injected into the national gas grid. It also has two combined heat and power engines and is accredited under the Renewable Heat Incentive (RHI) and Feed-in-Tariff (FiT) schemes.
The waste business collects source-separated and packaged food waste for the AD plant from a variety of commercial, industrial and local authorities in and around Greater London ultilising a growing fleet of biogas-powered vehicles.
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