Energos buys out Lancashire JV partner
Warrington-based energy recovery business Energos Holdings has acquired BioGen Power of Blackpool in an all-share deal.
Energos was already gasification technology partner to BioGen Power and had a 28% shareholding in the business. Energos has released shares to the former BioGen Power owners as part of the deal. One of the BioGen shareholders and directors, Peter Hughes, will remain with Energos as a non-executive director.
The two companies have a joint portfolio of six fully consented UK sites, with a total generating capacity of 60MW and waste treatment capacity of 650,000 tonnes, plus additional sites in the development pipeline.
In addition, the seven previously developed Energos gasification from waste facilities across Northern Europe, have a combined operating experience of almost 500,000 hours over a 15-year period.
Nick Dawber, managing director of Energos, said: "The combined portfolio of development-ready sites and pipeline of opportunities – now under the control of Energos – provides an exciting opportunity to deliver a UK network of small-scale advanced thermal conversion plants. This offers commercial waste operators a proven, cost effective, environmentally friendly alternative to mass-burn incineration and landfill for their non-recyclable, non-hazardous waste streams."
He added: "This acquisition brings further specialist planning and waste contracting expertise into the organisation and adds to the strength of Energos. We look forward to starting to roll out the UK development portfolio in 2012. Our community-sized model of operation means that the renewable energy facilities can sit alongside businesses and supply them with heat. Financial viability is increased by our ability to utilise the full combined heat and power potential of waste and flexibility to process a mixed residual waste feed."
Energos expects to start construction on two of its six approved sites in 2012, with the remaining sites in the following two years. The consented sites are in Knowsley, Irvine, Newport, Barry, Doncaster, and Bradford.
BioGen Power has closed its Blackpool office, with staff relocating to Energos' headquarters in Warrington, Cheshire.
Last week, Ener-G Holdings, parent company of Energos, agreed a £30m credit and loan facility with Barclays Bank.