Ervington Invests in Waste2Tricity
LONDON -- November 07, 2012
Waste2Tricity, a structured waste solutions provider, announced today that,
following the recent share acquisition in W2T’s strategic shareholder, AFC
Energy, Ervington Investments, whose ultimate beneficial owner is Roman
Abramovich, has acquired a 10% stake in the share capital of Waste2Tricity.
Paul Heagren, a long standing employee of Mr. Abramovich, will be joining the
company as a Non-Executive Director.
Peter Jones, Chairman of Waste2Tricity, said: “We are delighted to be able to
announce the valuable addition of Paul Heagren to the board and the new
relationship with Roman Abramovich’s company. We note Ervington’s recent
investments in AFC Energy Plc, the low cost alkaline fuel cell company, and
Alter NRG, the leading plasma gasification company. Waste2Tricity has a
longstanding relationship with both of these companies and their
Established in 2009, Waste2Tricity works with clients and partners to develop,
fund and support EfW deployment projects that integrate proven plasma
gasification and internal combustion engines/gas turbines (ICEs/GTs).
Waste2Tricity is a British venture established to implement the mostefficient
energy conversion process available – by implementing a unique combination of
AFC Energy’s new generation alkaline fuel cells with Alter NRG’s plasma
gasification and other existing proven technologies. The system will therefore
have significant environmental and cost benefits over other methods of
electricity generation. For more information, visit Waste2Tricity at
About fuel cells
A fuel cell is a device that produces electricity, heat and water by reacting
a hydrogen-rich fuel with oxygen. Conventional engines and turbines combust
fuel to produce mechanical energy prior to generating electricity. The direct
generation of electricity allows fuel cells to be highly energy efficient.
There are several different types of fuel cell, each with its own
characteristic but they are all based around a common central design. Fuel
cells are increasingly being deployed for applications ranging from vehicles,
domestic boilers, powering portable equipment and large scale power stations.
Sue Glanville/ Cate Bonthuys
Tel: +44 (0) 20 8971 6400
Press spacebar to pause and continue. Press esc to stop.