Mon, 15 Apr 2024 | BUSINESS SALE
A company that transforms residual waste into fuel has been acquired by waste management giant Biffa. The deal sees Biffa acquire the entire share capital of Eco-Power Green Energy Ltd, a subsidiary of Eco-Power Environmental Ltd, as well as a dormant plant and seven staff members.
The plant, located in the village of Melton, near Hull, has the capacity to produce in excess of 100,000 tonnes of solid recovered fuel (SRF) pellets per year, using non-recyclable household waste. SRF Pellets, an alternative to fossil fuels, are primarily used in the cement industry. Following the acquisition, Biffa will work to recommission the plant over the coming months.
Eco-Power group commercial director Louis Calders said that the sale was “testament to the vision, hard work and commitment of the Eco-Power team for the past seven years”, adding that Biffa has “the necessary expertise and resources to take the business on to the next level”.
The acquisition is the latest in a series of takeovers that have seen £1.4bn waste management firm Biffa significantly expand its operations, with several deals improving the company’s sustainability and environmentally-focused operations.
Biffa’s chief operating officer for resources and energy Mick Davis said that the acquisition and recommissioning of the Melton facility “allows us to further diversify our capability to divert more difficult-to-deal-with wastes away from landfill and help reduce customers’ carbon footprint.”
Davis added: "It's an exciting opportunity for us to develop our expertise in the alternative fuels market and could potentially be a stepping stone to a broader strategy in this space."
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