Deal Overview

In October 2012, Iona Capital invested in Biogen Waen Limited (“Waen”), a joint venture with Biogen (UK) Ltd, a leading UK owner and operator of Anaerobic Digestion (“AD”) facilities. Biogen constructed and now operate the plant located in St Asaph, Denbighshire processing 22,500 tonnes of food waste per annum producing 1MWe of renewable energy for the national grid. This energy provides sufficient power for 1,500 homes as well as a biofertilizer for local farmlands. The food waste is supplied by the Councils collection from local households and businesses together with additional third party food waste.

This type of technology is a recognised solution to  address the UK Government's objective to comply with EU landfill reduction targets and de-carbonise the UK electricity market. As such the electricity generated will benefit from premium selling prices through the Feed-in Tariff scheme. 

Operator

Waen is operated by Biogen, originally Greenfinch founded back in 1993 before being acquired by Biogen (UK) Ltd in 2008. The acquisition has since led to Biogen becoming the UK’s leading anaerobic digestion process building and operating company. Biogen has designed and built 19 AD plants up to date, processing over 180,000 tonnes of food waste annually and generating 8MW of green electricity. That is enough power for 25,000 homes.