Investment firm Floreat has invested in UK energy waste technology company on behalf of the Principal Investing Fund I fund.
Floreat said the fund has invested an initial £3m (€3.5m) to help Standard Gas Technologies develop its first full-scale commercial plant in the UK.
Standard Gas provides a low-cost, sustainable alternative to landfills and incineration. The company transforms a range of non-recyclable and hazardous wastes into a clean synthesis gas and biochar.
Standard Gas has its s first SG100 plant under construction in Norfolk.
Jeff Sinclair, the head of principal investing at Floreat, said: “As a dual play on both waste management and renewables, we are very pleased to be one of the first investors in Standard Gas.”
Sinclair said Standard Gas is well-placed to scale up and deliver a truly “revolutionary waste management solution” to meet demands.
“Firms are rightly concerned about how to dispose of waste sustainably while also benefiting from clean energy production,” Sinclair added.
Ed Falkman executive chairman at Standard Gas Technologies, said: “We’re excited to have Floreat and Jeff on board. As well as financial backing, they bring invaluable expert advice and an extensive network through Floreat’s well-connected partners.”
David Whitmarsh, the CEO of Standard Gas Technologies, said: “We believe this technology has the potential to be transformational not just for businesses, which face ample challenges when it comes to the sustainable disposal of waste, but in the overall sustainability of our planet and journey towards net zero.”
To read the latest edition of the latest IPE Real Assets magazine click here.