Biogen secures £22m funding from RBS
Biogen has secured £22m of funding from the Royal Bank of Scotland to support the continued expansion of the business.
BIOGEN designs, builds, owns and operates food waste anaerobic digestion (AD) plants which recycle waste food from homes, food manufacturers, retailers and the hospitality sector to generate renewable energy.
The revolving and term loan facilities with RBS together with the monies invested to date by Kier Group and the Bedfordia Group, will bring the amount put into BIOGEN’s developing plant network thus far to £70m. The new funding demonstrates the bank’s keen interest in sustainable development and validates the benefits of leveraging a longstanding relationship between Kier and RBS as well as underpinning the credibility and position of BIOGEN as the UK’s leading food waste AD operator.
BIOGEN’s Chief Executive, Richard Barker said: “This is great news for BIOGEN and great news for AD in the UK. The additional funding provided by RBS allows BIOGEN to continue its strategy of rolling out additional capacity across the UK. Each new AD plant we build will result in more food waste being diverted from landfill, more renewable energy being generated for communities and more jobs created for local people. Not only that, but more businesses and local councils will have better access to sustainable food waste treatment on a national scale.”