Business opportunity identified in the UK in 2005 – currently in a start up phase
Network Economy is engaged and has invested in the set-up of a project developer and operator of large-scale integrated waste treatment and power generation facilities in the UK to address the increasing waste disposal problem for local authorities. The UK local authorities have fallen behind in developing effective waste management strategies to achieve the toughening diversion from landfill targets set by EU and national regulation.
Biossence is currently developing a reference plant in the Northwest to process with autoclaving technology 400,000 tons of Municipal Solid Waste and to produce a biomass fuel that will be used in an integrated power generation plant. The plant will allow the local authority to turn potential penalties for breaches of the Landfill Directive into a profitable businessby trading LATS Credits with other authorities. The plant is being developed as a showcase and demonstration centre for integrated clean waste processing technologies combined with energy recovery, reducing the impact on the environment and exporting ROCable ‘green energy’ directly to the industrial customers.
Network Economy has joined forces with the founder of the business concept and has incorporated Biossence Ltd. in early 2006 to funnel all project development activities. Biossence has since then implemented the business concept. For the reference plant implementation, a special purpose vehicle has been set-up, an engineering consortium has been formed, the site for the plant has been secured, and the necessary planning approval process is being undertaken. The construction of the reference plant will start in 2007 and will be fully operational in early 2009.
Moreover, Biossence has extended its business development activities to develop a further 10 projects for which appropriate sites have been identified in the UK. Expressions of interest in the project/technology have been received from other EU countries and the Middle East.