2013-10-29 17:06:01 -
Waste2Tricity Ltd (W2T), the cutting edge structured solutions provider for the waste to energy sector, today announces it has negotiated a $1.5 million investment into Waste2Tricity International (Thailand) Ltd. The investment comes from a Thai investment consortium and Age of Reason Foundation, a founding investor in AFC Energy PLC and a major shareholder in Waste2Tricity Ltd. The Investors will receive 20% of the equity of Waste2Tricity International (Thailand) in newly issued shares.
The funds will be used to acquire exclusive rights in cutting edge technologies in Thailand in the waste to energy sector.
John Hall, Managing Director, Waste2Tricity Ltd comments, “We are delighted to make this announcement which is a testament to W2T’s confidence in the Thai waste to energy market –
a region which has inherent issues with waste management and a shortage of power.”
Established in 2008, Waste2Tricity works with clients and partners to develop, fund and support EfW deployment projects that integrate proven plasma gasification and internal combustion engines/gas turbines (ICEs/GTs). Shareholders at the global waste solutions firm include Roman Abramovich’s Ervington Investments, who acquired a 10% share capital stake in November last year. Waste2Tricty was actively involved with the $500 million Air Products Tees Valley Renewable Energy Facility (TV1), a 350,000 ton 50MW program utilising Alter NRG Westinghouse waste to energy project currently being built in Tees Valley and subsequently the announcement of TV2, a duplicate project adjacent to TV1.
Notes to Editors
Waste2Tricity is a structured solutions provider for the waste to energy sector. Its shareholders include Ervington Investments (UBO Roman Abramovich), Age of Reason Foundation and Eturab, all of whom are substantial shareholders in AFC Energy and/or Alter NRG Westinghouse and represent approx. 30% of each company. For more information, visit Waste2Tricity at www.waste2tricity.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww ..
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