LWARB Launches £20 Million Fund for Waste Infrastructure Projects
Friday, November 14, 2014
The London Waste and Recycling Board (LWARB) has launched a new £20 million fund for waste infrastructure developments to help fill the city’s gap in existing waste and recycling infrastructure.
The announcement follows the recent publication of LWARB’s investment framework for 2015-2020. It is hoped that the new funding will continue to play a key role in supporting waste projects at different development stages, ranging from new technology development to support for existing waste companies in London looking to upgrade their facilities and equipment.
LWARB has said they will only be evaluating proposals for projects that focus on London’s waste and that meet the environmental criteria set out within the Mayor of London’s waste strategies, including the low carbon criteria.
LWARB will consider proposals involving all technologies, including recyclate sorting and segregation, secondary material reprocessing or remanufacturing, anaerobic digestion, composting facilities and thermal and chemical treatment facilities. Technologies that focus on circular economy principles will also be considered, as will waste and material reuse projects.
Since 2010 LWARB have invested around £30 million in waste infrastructure projects in London. Such projects have included Plasrecycle, the UK’s first dedicated plant for recycling post-consumer shopping bags; TEG Biogas, an anaerobic digestion and composting facility; and Ecotech, a PET bottle reprocessing materials recovery facility (MRF).
LWARB has also helped establish and fund the London Reuse Network – a network of charities, social enterprises and non-profit organisations who work together to promote reuse across London.
Options within the new LWARB funding framework include:
- A £6 million capital fund for new infrastructure projects in or around London.
- A £5 million corporate loan fund for existing waste companies in London seeing to expand or upgrade their equipment.
- A £1 million development loan fund to support prospective projects in their earlier stages.
- A new £1 million venture capital fund, which will be launched in 2015, and the exploration of opportunities for a further £7 million investment in a new equity fund.
For further information on how to submit an expression of interest, including guidance on the application process and submissions criteria, please visit the LWARB website.