The UK government has announced the creation of a new fund aimed at supporting small-scale recycling and waste projects.
The Recycling and Waste LP (RAW) fund will be seeded with a £50 million investment from the Green Investment Bank (GIB) and will be managed by Foresight Group LLP. The fund already has an "extensive" pipeline in place, according to GIB.
Foresight Group will raise at least a further £50 million from the private sector to match GIB's investment. The fund will be the second investment in a Foresight fund by GIB following the creation in 2012 of the UK Waste Resources and Energy Investments (UKWREI) fund.
GIB invested £50 million in UKWREI, which attracted a total of £230 million from the private sector. The fund has supported a range of waste-to-energy projects, including small-scale farm-based anaerobic digestion facilities and larger waste wood-fuelled power plants.