News

Merger Update & Board Changes for Foresight 3 / Enterprise VCTs..

The board of directors of the Company (“the Board”) are pleased to advise that the resolution proposed at the extraordinary general meeting of Enterprise held today was duly passed to be able to implement the Scheme and effect the merger.  By way of implementation of the Scheme, the assets and liabilities of Enterprise have been transferred to the Company, in consideration for the issue of shares in the Company, as set out below.

Merger Update & Board Changes for Foresight 3 / Enterprise VCTs

The board of directors of the Company (“the Board”) are pleased to advise that the resolution proposed at the extraordinary general meeting of Enterprise held today was duly passed to be able to implement the Scheme and effect the merger.  By way of implementation of the Scheme, the assets and liabilities of Enterprise have been transferred to the Company, in consideration for the issue of shares in the Company, as set out below.

Foresight Group Appoints Nigel Aitchison as Industrial Partner

“Combining operational experience from industry with financial skills has always been at the core of Foresight’s added value,” said Matt Taylor, partner at Foresight, “Nigel’s appointment extends our ability to drive the success of our portfolio companies as they look to roll-out local-scale infrastructure for renewable energy, waste diversion and recycling. We are looking forward to Nigel taking up his new role in September”.

Foresight Invests £1.75 Million in Biomass Supplier Silvigen.

Silvigen was established in 2005 as a provider of consultancy services to the power industry on fuel processing and biomass fuel supply.  In 2006, the company successfully completed trials designed to perfect the processing of wood into a suitable fuel for co-firing in coal-fired power stations. Silvigen has secured long term contracts with a major UK power generator to supply a variety of biomass fuels over the next 10 years and beyond. The company is in negotiation with a number of other UK power generators and large industrial businesses looking to increase their use of biomass fuels in order to reduce carbon emissions.  

Foresight Invests £14 Million In Recycling And Renewable Energy Companies

The Investments Foresight has invested £5 million in Yorkshire-based Land Energy, a producer of wood pellets, to fund the development of wood pellet production plants.  Each plant will source wood from local forests and produce pellets for local use, delivering renewable wood fuel in the form of wood pellets to schools, homes and offices in the area in order to help them lower their carbon impact.  Although wood is not a new fuel for heating, its value as a renewable resource has just begun to be recognised. In Germany, for example, wood pellet consumption for fuel has risen ten-fold in the last four years because pellets are both easy to use and economical.

Foresight Group Wins Promotion of the Year Award

The £22 million Foresight Sustainable UK Investment Fund, which closed oversubscribed in December 2007, presents an opportunity for investors to achieve capital profits from a diverse portfolio of unquoted, UK focused, environmental infrastructure opportunities. The fund is the first of its kind in the UK and its strategy is to invest in renewable energy and recycling.  

Foresight Leads Defence & Homeland Security Seminar

The seminar provided an opportunity for companies from the sector to network and share information on sales models, marketing and pricing, and to discuss the outlook for mergers and acquisitions. Robin Southwell, the Chief Executive of EADS UK, one of the world’s largest defence firms, gave a keynote speech in which he noted spend in the homeland security sector is growing at a much more rapid rate than the relatively flat defence sector, with investment being driven by preparation for the London Olympics in 2012.

Portfolio Company Zoo Digital Wins Disney Contract

In addition, Sony Pictures Entertainment has licensed ZOO’s Templated Authoring System (“TAS”) and will shortly be in production of standard definition DVD titles using this innovative productivity tool.  Through Sony the Board expects that TAS revenues will increase considerably in the current financial year.