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Green Investment Bank Mulling £50m Anaerobic Digestion Investment
Market report says technology is “at the heart” of its waste investment strategy By Will Nichols 11 Jun 2013 The Green Investment Bank (GIB) has said anaerobic digestion (AD) projects are “at the heart” of its waste investment strategy, revealing that it is currently considering direct investment of up to £50m in the sector. The news comes in a report the government-owned institution published yesterday assessing the investment potential of the UK’s AD sector, which currently amounts to around 106MW of capacity in operation or under construction, with a further 148MW in the latter stages of planning. The UK’s AD plants process over five million tonnes of food and farm waste each year, generating electricity, biogas, and a nutrient rich fertiliser known as digestate. AD has been hailed as a sustainable way of dealing with food and agricultural waste and according to the industry the technology is capable of meeting 10 per cent of the UK’s gas domestic demand, while contributing up to £3bn to the economy and creating 35,000 jobs. The GIB was set up to invest in green infrastructure and waste technologies have been designated as one of its priority sectors. The new report acknowledges that funding has been an issue for the UK AD sector, with some investors deterred by concerns over feedstock availability, the availability of power off-take agreements, and local markets for digestate. It also warns that the fact that the majority of AD facilities in the UK have been in operation for less than three years means the sector lacks an established and informed investor community. But the report argues that putting robust contracts in place with feedstock suppliers and energy companies will help AD plants reduce their investment risk profile and attract debt finance, not least from the GIB. “For debt investment in the sector, GIB is actively investigating the opportunity to directly participate in up to £50m of financing for AD projects which achieve the specific metrics identified above,” the report said, adding that the GIB will continue to make equity investments through its nominated waste fund managers, Foresight and Greensphere. Adrian Judge, the GIB’s managing director for waste and bioenergy, said AD offers a lot of potential for investors. “AD is rightly at the heart of the Government’s waste policies, and GIB’s waste investment strategy,” he said. “For organic waste, AD is a cost-effective and sustainable waste management option. “Although the UK market is still young and there are challenges for projects in delivering a consistent revenue stream, well operated AD facilities have the potential to achieve attractive commercial rates of return to both equity and debt providers.” In related news, three UK companies were yesterday awarded a share of £1.34m to help encourage bioenergy production from wetland biomass. Natural Synergies, AMW IBERS, and AB systems were among seven companies shortlisted for the scheme, each of which is focused on improving harvesting and biomass energy generation techniques from wetland areas. Supporters of biomass energy have long argued that wetlands could offer a sustainable source of biomass feedstock, as it ca be developed without impacting on productive agricultural land. Continue reading
A Precious Fragment Of Oudh
Mark Frauenfelder at 10:33 am Wed, Jun 5, 2013 In my most recent mailing (MLF03), I sent my subscribers a fungal infection. From my letter: Before you call a hazardous waste team to dispose of it, though, read what what Chandler Burr, author of the fascinating book, The Emperor of Scent , has to say about the odor of oudh : It’s a drop-dead smell, very complex, honey, fresh tobacco, spices, amber, cream. … Incredibly strong, first of all. It knocks you over, clubs you like a falling stone. But its vast dimension is what astonishes: a huge smell, spatially immense, and incredibly complex, a buttery layer as deep as a quarry… Oudh grows inside a particular species of evergreen tree in south Asia. When the fungus attacks the tree, its wood becomes dark and resinous. Oudh is arguably the most-highly prized ingredient for perfume makers and a pound can cost as much as $25,000 (making it over six time more costly than high-grade medical cannabis). Below, more photos from my mailing. http://media.boingbo…6/MLF03_008.jpg Subscribe to my next mailing (MLF04) on Quarterly.co Continue reading
United Airlines To Use Biofuel In L.A. Flights By 2014
Published on Wednesday, 05 June 2013 By 2014, United Airlines will be using sustainable aviation biofuel on their flights departing from LAX. United has executed a definitive purchase agreement with AltAir Fuels to buy 15 million gallons of lower-carbon, renewable jet fuel over a three-year period, with the option to purchase more. AltAir expects to begin delivering five million gallons of renewable jet fuel per year to United starting 2014. “This is a great day for United and the aviation biofuels industry. This agreement underscores United’s efforts to be a leader in alternative fuels as well as our efforts to lead commercial aviation as an environmentally responsible company,” said United’s Managing Director for Global Environmental Affairs and Sustainability Jimmy Samartzis. AltAir develops and operates projects for the production of low carbon fuels and chemicals derived from sustainable feedstock. As part of their strategic partnership with United, AltAir will retrofit part of an existing petroleum refinery to become a 30 million gallon advanced biofuel refinery near Los Angeles. “United Airlines has been a strategic partner for several years as we work to establish our biofuel facility,” said AltAir’s Chief Executive Officer Tom Todaro. “We cannot overestimate how important this milestone is for the commercialization of sustainable aviation biofuels, and we at AltAir are proud that United is our first customer.” Using a process technology developed by Honeywell’s UOP, the AltAir facility will convert non-edible natural oils and agricultural waste into renewable jet and diesel fuels. These advanced biofuels will be drop-in replacements for petroleum-based fuel, providing the same performance with at least a 50 percent reduction in greenhouse gas emissions on a lifecycle basis. The agreement with AltAir is in line with United Airlines’ commitment to sustainable aviation. A signatory to the Sustainable Aviation Fuel Users Group, United signed a pledge to pursue the advancement of drop-in biofuels that achieve important sustainability criteria, work with leading organizations to achieve biofuel certification standards and take actions to enable commercial use of aviation biofuels. In 2009, United became the first North American carrier to perform a two-engine aircraft flight demonstration using fuel derived from algae and jatropha. They also operated the first flight by a North American commercial airline using synthetic fuel made from natural gas in 2010 and in 2011 operated the first U.S. commercial flight power by advanced biofuels from Huston to Chicago. – EcoSeed Staff Continue reading
