Advertisement

LudgateEnvironmental funds expansion of electronic waste recycler Terra Nova

LudgateEnvironmental Fund (LEF) has led a 4.2m euro funding round into electronic waste recycler Terra Nova, the company said Wednesday.

LudgateEnvironmental Fund (LEF) has led a 4.2m euro funding round into electronic waste recycler Terra Nova, the company said Wednesday.

The company, which invested €1.6m as part of the funding, has been helping Terra Nova in raising money to finance growth over the coming year as it develops ways to recycle electronic waste.

Advertisement - Article continues below

LEF has so far invested £5.3m into Terra Nova and will hold a 37% stake in the company. The latest investment will help the recycler expand its capacity.

"The funds will be used to finance Terra Nova's rapidly increasing production and capital projects to increase processing capacity and scope," the company said.

Terra Nova, established in 2006 by experts from the metals sector, recently launched its first plant for recycling printed circuit boards.

The facility has started making regular deliveries to metals smelters and demand for production volumes has exceeded the existing capacity of the plant.

Christian Thomas, Chief Executive Officer of Terra Nova, said: "I'm delighted to announce the close of our fundraising led by Ludgate Environmental Fund. With this capital, Terra Nova has the resources to deliver rapid growth.

"We have made huge progress over the last three years and this investment will allow us to meet the customer demand which is outstripping our initial production capacity."

RD

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

OBR: UK house prices could fall by 12% next year
House prices

OBR: UK house prices could fall by 12% next year

The Office for Budget Responsibility says UK house prices could fall by as much as 12% next year. John Stepek looks at how likely that is.
14 Jul 2020
Three ideas for Lloyds Bank's new boss
UK stockmarkets

Three ideas for Lloyds Bank's new boss

The Black Horse needs whipping into shape. A change at the top provides a great opportunity, says Matthew Lynn.
12 Jul 2020
We’re spending more than at any time since World War II – how will we pay it back?
UK Economy

We’re spending more than at any time since World War II – how will we pay it back?

With the UK spending vast sums on stimulus measures, this year’s budget deficit will be greater than at any time since World War II. The big question,…
14 Jul 2020