Iona Capital invests in First CHP plant with GLW Feeds

GLW Feeds

Iona Capital (Iona), the low carbon infrastructure investor and fund manager has financed the construction and operations of a new Combined Heat & Power energy plant located at GLW Feeds’ site in Shepshed, Loughborough.

GLW Feeds Limited (GLW) is one of the largest independent, family-owned livestock and speciality feed manufacturers in the UK and has a significant heat and power demand all year round.

The energy plant will be constructed by Edina UK Ltd and will comprise of a 1.5MW Combined Heat and Power plant (CHP) and a waste heat boiler to supply all power and heat directly to GLW, thus reducing their carbon footprint and controlling their energy bills.At full capacity, the energy plant will provide enough energy to power the equivalent of c.3,140 homes and heat a further c.3,332 homes per annum in the UK.

It will also have the potential to cut GLW’s carbon emissions by over 1,485 tonnes a year compared to its current energy sources which is equivalent to removing c.1,000 cars off the road while providing a better monitoring of energy inputs.

Michael Leclerc, Senior Investment Manager at Iona Capital said: “Iona is very pleased to have worked with GLW in delivering an energy solution that reduces their carbon footprint and ensure a consistent supply of energy to their facility. The installation will also free up capital which would have otherwise been used in the cost of installation.”

By entering into a long-term Energy Purchase Agreement, GLW can expect to better manage their energy costs as well as lower their carbon emissions.

Louis White, Managing Director of GLW Feeds Ltd: “At GLW Feeds, we have been actively working towards reducing our carbon footprint and maximising our environmental sustainability. The CHP plant combined with the energy purchase agreement with Iona Capital allows us to continue further capital investment in our plant to increase our overall energy efficiency per tonne of feed produced.”

“We now source c.70% of our major raw materials locally to the mill and have already enrolled in global sustainability schemes with other raw materials. Furthermore, we have links with Eco2 to provide a Global Warming Potential for the mill and all the feeds that we produce. We are pleased to be able to demonstrate that we can also reduce our carbon footprint through our energy consumption.”

 

Media Contacts:

Iona Capital

Michael Leclerc, Iona Capital: 020 7064 3300 / [email protected]

Paul Taylor, Taylor Keogh Communications:  020 8392 8250 / [email protected]

GLW Feeds Ltd

Louis White, GLW Feeds: 015 0950 1801 / [email protected] /

 

About Iona (www.ionacapital.co.uk / twitter: iona_capital)

Iona is a leading specialist investment manager with a focus on investing in long term projects in the renewable and low carbon energy infrastructure sectors. Iona manages four funds and has invested in 24 projects to date. Headquartered in London, Iona has an experienced team of renewable energy, waste industry and private equity specialists.

About GLW Feeds (www.glw-feeds.co.uk)

Founded in 1873 and based in the Midlands, GLW Feeds is one of the largest independent livestock and speciality feed manufacturers in the UK.

GLW specialises in the manufacture of compound and blended livestock feeds across the Dairy, Beef, Sheep, Pig and Poultry sectors. It also supplies straights and nutritional solutions direct to farm.

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