Iona capital

Environmentally focused investors

Iona is an independent investment company based in London and Manchester. The investment team is largely comprised of waste management and renewables executives who are particularly experienced in negotiating and implementing long term infrastructure projects. The investment team has a combined track record of over ÂŁ2.5bn of investments in UK infrastructure projects.

Iona manages funds in behalf of institutional investors, principally UK pension funds, who are attracted to the sector for its appealing cash yields and non-correlated absolute returns.

Iona launched its first institutional fund, Iona Environmental Infrastructure LP, in 2012 with support from UK pension funds. Further funds were launched in 2016 and the funds are focussed on investments in the Bioenergy sector and have made investments in 20 environmental infrastructure projects in England, Scotland and Wales.

Graphic Design : blackincagency.co.uk Photography : dresserphotography.co.uk Print : Andrew Kilburn Print Services 4

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Gavel Pit 7

Construction of Gravel Pit was completed in September 2015. During the construction period 38 people have been employed full time, transitioning to 6 permanent employees operating the site. The plant provides 300 cubic metres an hour of natural gas into the national gas grid from non-fossil fuel sources. This will reduce methane emissions into the atmosphere by processing farmyard slurry and chicken manure, as well as maize and grass silage. Digestate from the plant will provide very high quality agriculture fertilisers for use on surrounding farms.

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Gavel Pit 9

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Gavel Pit 11

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Home Farm 13

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Howla Hay 15

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Howla Hay 17

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Howla Hay 19

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Iona Capital has invested in Leeming Biogas which facility is one otf the largest gas-to-grid AD plants in the UK. During the construction more than 60 people have been employed in constructing the plant, and 13 people are now in permanent jobs operating and maintaining the plant.

The plant processes up to 80,000 tonnes per year of commercial food waste produced by local businesses and generates approximately 6,000,000 cubic metres of biomethane per year. The plant at Leeming will recycle food waste to provide renewable energy and a bio-fertilizer that will be distributed on local farm land to improve crop production.

Mike Dunn, Director, Iona Capital noted: “Creating a sustainable energy sector is a top priority for the UK and Iona’ s biogas projects provide both attractive commercial returns to investors as well as long term social, economic and environmental benefits to local communities and future generations.�

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Iona Capital has invested in New Mill which plant provides 2MW of electricity capacity into the National Grid from non-fossil fuel sources. This will reduce methane emissions into the atmosphere by processing farmyard slurry, as well as maize and grass silage. The plant uses excess heat produced by the combined heat and power (CHP) generators to run digestate drying and pasteurisation to provide very high quality agriculture fertilisers for use on surrounding farms. This will have the additional advantage of reducing reliance on traditional, fossil fuel intensive nitrate fertilisers.

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New Mill 31

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Keithick 33

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Keithick 35

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Keithick 37

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St. Boswell’s 39

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On 8 February 2013, Iona Capital (“Iona”) announced that it has completed a transaction in which it invested in Stanley Renewable Energy Ltd. This facility will not only provide an elegant solution for processing organic waste and generating renewable energy for distribution into the local network, but it will also reduce greenhouse gas emissions associated with spreading farm waste on land. This will therefore contribute to the Government’s commitment to deliver “zero waste” by 2020 and increase renewable energy generation.

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Stanley Renewable Energy 43

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Gwyriad 47

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In October 2012, Iona Capital invested in Biogen Waen Limited, a Joint Venture company established with Biogen (UK) Ltd, a leading UK owner and operator of Anaerobic Digestion facilities. Biogen constructed and operate a 22,500 tonnes per annum AD plant at Waen, St Asaph, Denbighshire to process the food waste supplied by the Councils from local households and businesses together with additional third party food waste. The plant produces 1 MWe of electricity which is exported to the National Grid

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Waen 51

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Waen 53

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Waen 55

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Washfold 57

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Washfold 59

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Wray House 61

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Wray House not only processes organic waste and generates renewable energy for distribution into the local network, it will also reduce greenhouse gas emissions associated with spreading farm waste on land. This will therefore contribute to the Government’s commitment to deliver “zero waste� by 2020 and increase renewable energy generation.

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Iona Capital Ltd 86 Jermyn Street, London, SW1Y 6JD. Phone: +44 (0) 20 7064 3300 www.ionacapital.co.uk