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Aurium Backed Bioenergy Infrastructure Group Raises £150M from Investors Aurium, Helios and Infracapital

October 8, 2018

8 October 2018, London: Bioenergy Infrastructure Group ("BIG"), an independent power producer specialising in the biomass and waste to energy sector, today announces the completion of a new equity raise from its existing shareholders to fund the next stage in its growth and development.

 

An additional £150m investment has been made by lnfracapital, Helios Energy Investments ("Helios") and Aurium Capital Markets ("Aurium"), bringing the aggregate funding to over £600 million since the company was established in 2015.

 

The injection of capital marks a significant milestone in the development not only of BIG but also in the biomass and waste to energy sector, which is growing rapidly and already supplies around 20% of the UK's renewable energy.[1] As part of its continuing growth strategy, BIG has earmarked the funds to invest in new UK biomass and waste to energy assets to expand its existing portfolio and benefit from increased scale and diversification.

 

"We are committed to supporting the UK's move towards a low-carbon economy, whilst simultaneously contributing to regional job creation and growth.  We now look forward to being able to take advantage of new opportunities as the renewable energy sector in the UK institutionalises and enters a consolidation phase," said Hamish McPherson, Chief Executive Officer, BIG.

 

BIG has invested in over 20 projects across the UK, including Energy Works Hull, a 24MW facility in Hull, East Yorkshire; Ince Bio Power, a 21MW facility in Ince, Cheshire; and Mersey Bio Energy, a 20MW facility in Widnes, Cheshire. BIG has over 100MW of operational and late-stage construction assets, which will divert over l million tonnes of waste from landfill each year and generate enough electricity to power around 250,000 homes in the UK.

 

"We have achieved a leading position in the UK's biomass and waste to energy sectors by establishing a diversified portfolio of assets with scale and operational synergies, " Mr McPherson continues.  "This significant new commitment of capital underscores our shareholders long-term commitment to BIG and the biomass and waste to energy sector."

 

Andy Matthews, Head of Greenfield, Infracapital said : "We are thrilled to be playing an important role in enabling a meaningful reduction in UK carbon emissions via this additional investment in BIG.  BIG is ideally-placed to benefit from the rapidly growing biomass ans waste to energy sector and has already made great progress in growing its platform.  We are delighted to continue our supposrt"

 

Erez Gissin, Managing Partner, Helio said: "Helios has been a founding investor of BIG since its inception and is proud to join our UK partners with significant further equity contribution as part of Helios' broad renewable energy investments in the UK market"

 

As part of the fundraising Aurium has acquired the equity stake held by BIG co-founder Foresight Group.  Foresight remains a key stakeholder in the business with an ongoing advisory role and continuing interest in BIG's success.

 

Mr McPherson added: "We would like to take this opportunity to thank all the team at Foresight for their unwavering support over the last three years and their contribution to the growth and development of the company."

 

James Samworth, Partner, Foresight commented: "We are proud of our role in co-founding BIG and supporting its growth alongside our partners.  We look forward to continuing our support and seeing the company develop further in the coming years."

 

Nimesh Kamath, Partner, Aurium said: " We are delighted to have supported the recent funding round for BIG.  Our continued commitment to BIG reflects both our positive view of the biomass and waste to energy sectors and the confidence we have in the team as BIG continues to drive consolidation in the market"

 

[1] source: Digest of UK Energy Statistics (DUKES) - renewable sources of energy, July 2018.

 

 

 

 

 

 

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