Evero raises and deploys £215million of funds to further fuel growth

Evero has today completed the raising and deploying of £215million of funds to further fuel growth.

Evero has established one of the UK’s largest portfolios of energy recovery facilities. These are comprised of Lisahally Power Station (in Northern Ireland), Ince Bio Power and Mersey Bioenergy (North West England), Levenseat Renewable Energy (Scotland) and Energy Works Hull (Humberside). The company’s feedstock is locally sourced waste (wood and refuse).

The initial deployment of funds has allowed Evero to fully consolidate its ownership of Lisahally and Mersey Bioenergy through the acquisition of the interests of co-shareholders.

The financing follows the expansion of Evero’s Services business earlier in the year, which saw the signing of a contract to provide Operations and Maintenance to an additional three waste fuelled gasification plants based in Hull, Barry and Boston.

The lending was led by Santander as sole underwriters. The facilities have been issued under a Green Financing framework, meeting ICMA and LMA guidelines.

Evero recently completed a rebranding from Bioenergy Infrastructure Group. The company’s new name and identity embody the company’s recent growth and strategic vision to restore balance in the way society thinks about waste.

CEO, Simon Hicks, said:

“The new identity is based on our committed belief that the current way we approach waste fails to fully meet the needs of the energy transition and society’s expectations. We believe there is a future where the world is fuelled sustainably. We have the imagination to unlock it and the knowledge to do so.

“We have consolidated our ownership in Lisahally and Mersey Bioenergy as they are leading assets in the generation of low carbon energy from local, sustainably sourced waste wood. They provide us with a platform to continue to grow the business and develop further prospects in our future fuels strategy.”

Notes for editors

• Evero was financially advised by Jefferies and worked with Linklaters for legal support. The lenders were advised by Clifford Chance. DNV provided the third-party opinion the Green Financing Framework.
• The company is a generator of low carbon electricity with the majority of the company’s feedstock being locally sourced waste wood.
• Evero is a specialist in gasification of waste
• Evero is owned by Infracapital and Helios Energy Investments
• Evero was previously known as Bioenergy Infrastructure Group

Press contact:

Greg Williams – Head of Regulatory Affairs

[email protected]

07435 783748