Mathew Hancock, Minister of State at the Department for Business, Innovation and Skills of Great Britain announced new investments for small-sized projects both in waste treatment and waste management in Great Britain.
A new program of special-purpose funds with a title of RAW (Investment Partnership in Secondary Wastes Recycling) will be managed by Forsyte Group company. It was announced during Minister’s visit to the city of Tyseley where works were being performed in Birmingham BioPower project implementation with overall cost of 47 mln pounds.
After completing all the works this enterprise will treat up to 67 000 tons of timber manufacturing industry wastes annually. This timber will be used as raw material for power production in volume enough to supply 17 00 households. This project implementation is expected to revive the local economy and provide 100 work places. The project’s investor is the Green Investment Bank.
Mr. Hancock mentioned that bioenergy project’s support performed by the Green Investments Bank allowed Great Britain taking a leadership in wood waste recycling into energy industry. Besides Shaun Kingsbury, Executive Director at the Green Investments Bank shared that this enterprise was an example of modern and highly-technology infrastructure Great Britain needed. All provided investments were a successful element of the Bank strategy. The new fund will be the second joint project implemented by the Bank and the Forsyte Group company and allows providing necessary support for small-sized projects all over Great Britain.
