14th Sep 2007 07:00
Scottish & Southern Energy PLC14 September 2007 Scottish and Southern Energy plc and Carbon Trust Enterprises team up on InSource Energy New joint venture to accelerate development of UK's commercial waste to energy market Scottish and Southern Energy plc and Carbon Trust Enterprises today announced anew joint venture to support InSource Energy Limited - a bio-waste to energybusiness created by the Carbon Trust. Scottish and Southern Energy has agreed toinvest up to £2.7 million to acquire up to 40 per cent of InSource Energy plusup to a further £10.0 million to fund the company's projects as it enters itsnext phase of development. InSource Energy was created by Carbon Trust Enterprises, a subsidiary of theCarbon Trust, to drive forward the development of the commercial waste to energymarket in the UK. InSource Energy is initially focusing on six sectors of the UKfood industry, which currently produce around 5.6 million tonnes ofbiodegradable waste a year. It can develop, build, finance, own and operatewaste to energy systems, allowing businesses to outsource waste and energyprocesses whilst benefiting from financial and carbon savings. It also offers anindependent service that assesses the best fit technology for each customer'sneeds. The initial projects will provide on-site anaerobic digesters to breakdown the food waste into methane, which will be captured and used to generateelectricity and heat. Ian Marchant, Chief Executive of SSE, said: "The disposal of waste in the UK is increasingly difficult. At the same time,waste provides an alternative and localised source of UK-derived fuel. Thisinvestment will enable SSE to become an active participant in a new, sustainableand opportunity-rich sector of the UK's energy industry." Tom Delay, Chief Executive of the Carbon Trust, said: "InSource Energy is another example of how Carbon Trust Enterprises isdeveloping exciting low carbon businesses and bringing opportunities forco-investment to the market. Waste to energy technology offers great potentialto cut carbon emissions and our aim is to accelerate the deployment of on-sitefacilities across the UK. Our partnership with Scottish and Southern Energy onInSource Energy is a vital step in this process and we are delighted to beworking with them on this venture." Enquiries to: Scottish and Southern Energy plc Sharron Miller-McKenzie, Press Office Manager - 0845 0760 530 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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