Recycling fund reaches milestone

New Earth Solutions has raised its first target of £10m since July 2008 for its Recycling Facilities investment sub-fund.

The fund invests directly in New Earth Solutions' recycling and waste management facilities, which is set up in conjunction with Isle of Man-based fund provider, Premier Group.

David Whittaker, a director at Premier says: "Despite the recession we are still seeing strong appetite to invest in the waste sector. Investors and their independent financial advisers have been monitoring the market for some time and recognise the potential for good financial returns from the waste and recycling market."

He says the fact leading life companies like Aegon and Canada Life have joined up indicates the stength of the offering.

Adrian Jones, finance director at New Earth Solutions says: "New Earth Solutions is poised for accelerated growth over the next five years as we grow a network of biodegradable waste treatment facilities throughout the UK and the fund will help support this."