Penryn-based AP Waste Handling has secured exclusive UK and Ireland distribution rights for an innovative product which cheaply converts food waste into a nutrient-rich, reusable product. This latest development has been made possible thanks to investment from Finance Cornwall.
Anchorpac Compactors has been a tried and trusted name in waste processing and handling equipment for forty years and AP Waste Handling is owner of the Anchorpac name. AP Waste Handling, established in 2005, is now the exclusive UK and Ireland distributor of BioNova, a Swedish-built and industry-proven bio-process solution that converts food waste into a dry, nutrient-rich, reusable commodity.
The company, which also designs and supplies waste handling and processing equipment, has successfully secured expansion funding from Finance Cornwall, a £20m venture investment fund targeting small and medium sized enterprises in the region which has to date invested £10 million in 121 Cornish businesses.
The microbiological BioNova was designed as a fast, odour-free, on-site digester process for the treatment of industrial organic waste and rapidly breaks down unwanted materials to produce end products that can be sold on for biofuel, pet food and soil enhancement. It can be supplied to treat 1,000 to 100,000 litres of organic waste per week, transforming otherwise costly waste materials into powder in just 48 to 72 hours, and is already being used by businesses across the region.
AP Waste also supplies equipment for on-site ‘pelletising’ and biomass burning of the residual product, providing an effective total waste treatment and factory heating solution.
Clive Tayton, Managing Director of AP Waste Handling, said: “Offering a very low carbon footprint and very low running costs, the fully integrated BioNova provides a swift and cost-effective solution to today’s increasingly complex and expensive waste disposal and also ensures compliance with landfill regulations relating to organic and process food waste.
“As companies come under more pressure to fulfill their environmental obligations, so interest in the BioNova has soared. I am grateful to Finance Cornwall for realising the full potential of our company.”
Robert Seymour, Managing Director of Finance Cornwall Fund Managers Limited, said: “AP Waste Handling is at the cutting edge of this type of technology and we at Finance Cornwall see great opportunities ahead for the company.”
The investment has been made alongside working capital facilities arranged by Bibby Financial. The company was advised by Bond Pearce. Finance Cornwall was advised by Hancock Caffin and Winter Rule.
ENDS
Dated 29/05/08
Notes to Editors
Finance Cornwall is a £20m venture investment fund targeting small and medium sized enterprises in this region with a range of equity, mezzanine and debt capital. Finance Cornwall can lend or invest from £20,000 to £1 million per business and, to date, has invested £10 million in 121 businesses; levering £37.2 million into the Cornish economy, creating over 300 jobs and safeguarding 1,225. It is part funded by the EU through the Objective One Programme for Cornwall and the Isles of Scilly.
Finance Cornwall’s funds are administered by Finance Cornwall Fund Managers Limited; an investment company authorised and regulated by the Financial Services Authority registered in England and Wales, number 05010380, registered address 14 High Cross, Truro, Cornwall, TR1 2AJ.
For further information visit: www.financecornwall.co.uk
For further information on AP Waste Handling visit: www.apwastehandling.co.uk
PR contact:
Samantha McKay, PR Manager, Formedia Limited (PR for Finance Cornwall) on Tel: (01752) 762121 / email: samantha@formedia.co.uk / Mobile: (07818) 057437 |
