Iona Capital finances farm scale Anaerobic Digestion (AD) plant with developer JFS

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Iona Capital Ltd financed construction of a 250kW AD plant at Howla Hay Farm, Guisborough, North Yorkshire, which will benefit from Feed in Tariff Scheme.

Iona Capital, the environmentally focussed investor, has today announced the successful completion of an investment into JFS Howla Hay Biogas Limited a joint venture company with developer JFS & Associates Limited and a family run Farm in North Yorkshire. As an experienced investor in larger Anaerobic Digestion (AD) transactions, Iona is providing funding for the development of JFS’ pipeline of 20 agricultural AD projects.

JFS & Associates will act as a development partner and construct a new 250kW AD plant at Howla Hay Farm, Guisborough, North Yorkshire with a planned operational date of January 2014. The farm will provide the required feedstock (manure, slurry, energy crops) to the AD plant to enable generation and sale of renewable electricity to the National Grid thus benefiting from Feed in Tariff Scheme. The UK Government places high priority on the development of the bioenergy industry and the UK target of “zero waste” by 2020. The plant will also take advantage of by-products such as fertilizer and heat.

Mike Dunn, Director, Iona Capital said: “This investment is the second of a series of similar investments we have planned with JFS associates. These investments serve to demonstrate our on-going commitment to the AD market which now includes both agricultural and food waste AD facilities.

Matthew Flint, Director JFS & Associates said: “The team at JFS are grateful for the continued support of Iona Capital. JFS have developed the site at Howla Hay from a concept to a fully consented ‘shovel ready’ site, taking on all of the development risk and costs. Iona then provides the critical investment to fund the construction of an operational plant.

Ends.

If you'd like more information about this topic, or to schedule an interview with the Iona team please call Julia Safiullina at 0207 629 9166 or e-mail Julia at jsafiullina(at)ionacapital(dot)co(dot)uk
Please visit our website http://www.ionacapital.co.uk

Notes to Editors

  •     JFS & Associates are a developer of Anaerobic Digestion (AD) and biogas projects. Their aim is to build, own and operate 25+ plants in five years, representing a 2.5% market share of the Government target of 1000 operational plants by 2020. For further information on anaerobic digestion visit http://jfsassociates.co.uk/.
  •     Iona Capital provides equity and subordinated debt into waste projects which have a renewable element. This may include the production of methane gas for conversion into electricity or heat and the recovery of recyclable materials.
  •     Iona develops strategic partnerships and uses sector-specific expertise and financial skills to achieve profitable growth for their investors who range from high net worth investors to large local authority pension funds. For more information please see http://www.ionacapital.co.uk.

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