Foresight Group (Foresight), a leading alternative asset manager, has been awarded ‘Investor of the Year’ at the Rosenblatt New Energy Awards at a ceremony held at the Natural History Museum in London on the 25 February.
Foresight beat off stiff competition from BlackRock, HgCapital and Invesco to win the award which ‘seeks to recognize the private equity firm, venture capitalist, business angel, serial investor or investing institution that has done the most to help renewable energy prosper and progress in 2008’.
The group was acknowledged for its continued investment in environmental technologies and infrastructure projects around the UK during 2008.
Foresight’s Environmental Team expanded significantly during the year and now comprises twelve people focused on specialist areas including biomass, recycling, waste to energy, solar and alternative energy.
Investments made by Foresight during 2008 included:
• £1.75 million in Silvigen Ltd, a UK based producer and supplier of biomass fuels for use in the power industry, to finance the development of Silvigen’s biomass processing plant in Goole, North Humberside, as well as providing working capital to support the company’s future growth plans.
• £5 million in Yorkshire-based Land Energy, a producer of wood pellets, to fund the development of wood pellet production plants which deliver renewable wood fuel with a lower carbon impact.
• £6 million in AWP Environmental, a company that is looking to convert potentially dangerous industrial wastes, such as used oil, paints and inks into renewable electricity using an advanced gasification technology to avoid harmful emissions.
• Closed Loop Limited, who is behind the first ever plant to recycle waste plastics back into food packaging material opened its first plant in Dagenham, London in June 2008 funded by a £3 million investment from Foresight in 2007. Foresight has since increased this investment to partially fund the building of a second plant in Wales.
Andrew Page, Partner, Foresight Group said, “2008 has been an excellent year for Foresight’s Environmental Team and we have successfully identified and invested some of the most innovative environmental infrastructure projects in the UK. We are very pleased and honoured to be recognised for our commitment to investments in the environmental infrastructure sector. We continue to see very strong deal flow and outstanding investment opportunities, and despite the current financial climate anticipate another active year for the team.”