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  • Envirogy Renewables Energy & Resource Management
    Envirogy Renewables

    Air source heat pumps now a viable alternative

    Heating UK homes with air source heat pumps is now a viable and credible alternative to traditional methods and can help to combat rising energy bills through greater efficiency.

  • BT Corporate Reports
    BT

    BT's revenue from products and services contributing to carbon abatement totalled £5.3bn

    BT customers have cut carbon emissions by 10 million tonnes. BT's annual Delivering our Purpose report says revenue from products contributing to carbon abatement totalled £5.3bn, representing 22% of its total revenue last year.

  • Green Rewards Awards & Standards
    Green Rewards

    RBS wins Bank of the Year in Better Society Awards 2017 for JUMP engagement programme

    RBS has won the prestigious 'Bank of the Year' award in the Better Society Awards 2017 for its innovative employee engagement programme, JUMP. The Bank came first in its category, ahead of runners-up HSBC, Liberum, Barclays and Societe Generale. The Bank was recognised for successfully engaging its employees in sustainable behaviours and improving sustainability in the workplace.

  • SAVORTEX Awards & Standards
    SAVORTEX

    SAVORTEX announced as Successful Innovator by Cummins

    SAVORTEX, the multi-award winning hand drying technology manufacturer, has been chosen as a Successful Innovator by the American Fortune 500 corporation Cummins, as part of its Environmental Gateway programme. It recognises innovators, small businesses and corporates around Britain and the world who design products which help to reduce carbon emissions.

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Friday, 12 May 2017 09:34

Funding at last allows anaerobic digestion plant the power to succeed

A firm that was rejected on no fewer than 25 occasions to fund the construction of a new anaerobic digestion plant is now powering to success, thanks to the support of peer-to-peer funding specialists F&P Sponsors.

FP biodynamic Ad fundingmain Only two weeks after contacting F&P Sponsors, BioDynamic UK was listed on a peer-to-peer (P2P) platform, and secured the £1.5 million needed to turn its sustainable energy dream into reality.

Maxwell Bagnall, owner of BioDynamic UK, says that finance was the "biggest hurdle" during the construction, and most recently the expansion, phase of the plant, which is based in Colwick, Nottinghamshire: "In our industry we have to be fast-moving otherwise subsidies and grants will expire and opportunities will be missed," he explains.

"Traditional lenders see the risk as being too high, but are more comfortable once the facility has been built. This means that short-term funding through P2P works in the early stages, and because F&P Sponsors does not penalise a borrower for early settlement, the loans can be repaid using traditional bank finance when the reduced risk of an established business satisfies the banks' strict lending criteria."

F&P was recommended to Maxwell through a friend, and since joining forces, BioDynamic UK has gone on to become one of the many success stories within the F&P portfolio. There are now more than 250 F&P borrowers who have secured some £100 million in P2P funding. For its initial round of funding, security was taken on the site owned by BioDynamic UK on which the plant was built.

biodynamic ad funding FP logoWith the completion of the construction phase, BioDynamic UK has now gone on to secure additional funds of nearly £750,000 to expand the plant further and increase its power output to 2.5MW. This means it now has the capacity to treat 150,000 tonnes of food waste every year, and turn that waste into electricity for the local area.

"We have real confidence that should the business require further expansion, or we move on to set up a different project, we have a faithful partner in F&P that will support and understand us throughout the process," Maxwell continues.

Ivor Freedman, Director at F&P, says companies are consistently facing rejection from traditional lenders: "It is a common problem, and one that we are able to solve quickly with our approach to P2P," he concludes.

http://fandpsponsors.com

http://biodynamicuk.com