£50 million financing for New Earth Solutions

New Earth Solutions has gained a £50 million finance package from commercial bank, Norddeutsche Landesbank (Nord LB) to develop new waste treatment facilities across the UK.

Dorset-based New Earth Solutions creates waste processing systems for the biological treatment of commercial and municipal waste. These treatments offer high levels of emissions control and assist local authorities in meeting targets for recycling and landfill diversion.

The finance package from Nord LB has already been utilised on two key projects: the mechanical biological treatment facilities in Dorset and Kent. Now New Earth Solutions plans to roll out five other treatment facilities.

Nord LB's Head of Waste and Environmental Services, Mathias Pahlke, said: "New Earth Solutions' non-thermal biological facilities mark an exciting new phase in waste management services and, combined with a robust and proven business model, are highly significant in their potential to deliver a long term solution to current industry and local government-wide challenges."

New Earth Solutions' Finance Director, Adrian Jones, added: "This package will help us deliver significant processing capacity as part of our goal of being one of the few proven solutions offering innovative and competitive packages to our clients. Ultimately, this will enable us to reach our target of recycling up to 2.5 million tonnes of municipal and commercial waste per annum by 2013."