Acquisition of a further 2 Anaerobic Digestion Plants
September 1, 2019
Material Change and Foresight are pleased to announce the acquisition of two large scale Anaerobic Digestion plants as part of the sale of Strutt & Parker (Farms) Limited, one of East Anglia’s oldest and best-known diversified farming businesses.
The two plants, Euston and Bay Farm are located in Thetford and Newmarket. In combination, the plants will produce c. 95,000 MWh of power per annum, which is the energy equivalent of powering 30,000 homes in the UK. Both plants are fully operational.
The transaction is a continuation of the partnership between Foresight and Material Change Ltd and its parent company Heathpatch Ltd. As part of the deal, Material Change has entered into long term feedstock supply, digestate offtake and management & maintenance services contracts while Heathpatch are equity investors in the projects. Material Change now provides services to 7 AD sites and sources over 250 000T of waste and grown crop feedstock to the plants and returns 300 000T of organic matter to land from its composting and AD businesses.
Charles Course, Material Change Ltd and Heathpatch Ltd said:
“We are pleased to have further expanded our relationship with Foresight and look forward to developing and enhancing the plants acquired. We hope that the combination of Foresight’s expertise, and our knowledge and experience in agriculture, waste processing, AD development and operation will make us a first choice for anyone considering the sale, or enhancement, of AD assets.”
Commenting on the deal, Charlie Sheldon, Director at Foresight, said: “We are delighted to have completed the acquisition of this AD portfolio alongside our partner Material Change. We look forward to making further acquisitions as part of our wider AD aggregation strategy.”
About Heathpatch / Material Change
Heathpatch is a family owned, 4000 acre diversified Suffolk farm business. It employs over 290 people in its businesses involved in farming, organic waste recycling, supplying and servicing recycling machinery, production of thermal and acoustic insulation and sports products from recycled waste tyres, electronics and enclosure manufacture and property management. It has operations in the UK, Germany, China and Hong Kong. Improvement of the natural environment, wildlife and habitats is a key objective, throughout the Heathpatch group.
Material Change has developed and operates 3 AD plants and 6 composting sites as well as managing 4 AD sites for third parties. The business has developed consultancy services and assists a number of plants with accreditation reporting and compliance. It has an exceptional reputation and track record in the safe, compliant and efficient operation of organic waste processing sites.
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