Energy efficiency
Announcements prior to September 2017, including this announcement, occurred under previous ownership.
24 June 2015
UK Green Investment Bank plc (GIB) has today announced the 50th transaction it has funded since it was formed in October 2012. It has now committed a total of over £2bn to transactions worth over £8bn, in every part of the UK.
The Equitix-managed fund Energy Savings Investments (ESI), in which GIB is a cornerstone investor, is investing £2m in a sewage heat recovery system installation programme in locations across Scotland, beginning with Borders College.
An additional £2m of private sector capital has been mobilised from the Equitix Energy Efficiency Fund (EEEF).
It will be the first time the sewage heat recovery technology, developed by SHARC Energy Systems, has been deployed in the UK.
The pilot project will see heat extracted from waste water intercepted from Scottish Water’s Galashiels network. The heat will then be sold to Borders College under a 20-year purchase agreement resulting in energy and cost savings and a reduction in carbon emissions.
Installation of the system is scheduled to start later this month and completion is expected by the end of the summer. The work will be carried out with no disruptions to normal operations.
The announcement was made at GIB’s annual review event in Edinburgh this morning where stakeholders gathered to hear about GIB’s progress over the year 2014/15.
Lord Dunlop
Parliamentary Under Secretary of State for Scotland
Lord Smith of Kelvin
Chairman, UK Green Investment Bank
Geoff Jackson
Cheif Executive Officer, Exquitix
Ross Burton
Chief Executive Officer, SHARC Energy Systems
Total GIB share of investment: £2m
Total capital mobilised: £4m
Co-investors: Equitix Energy Efficiency Fund (EEEF)
Expected completion: Summer 2015
Developer: SHARC Energy Systems
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About Equitix
Equitix is a company established to deliver and manage infrastructure projects from bidding and closing through to construction and service provision. Its reputation is built upon strong relationships with its clients and partners, as well as a committed approach to every project in which they are involved and investment they make.
About SHARC Energy Systems
Launched in June 2014, SHARC Energy Systems is a UK organisation specialising in sewage heat recovery technology that is a sustainable alternative energy source.
Unique in the UK and Europe, the system generates energy-saving, cost-effective and environmentally-friendly solutions for heating, cooling and hot water for commercial and residential buildings.
SHARC Energy Systems is the trading name of IWWS (UK) Limited, and its technology is developed by its parent company International Wastewater Heat Exchange Systems (IWHES) based in Vancouver, Canada. IWHES is regarded as a leader in sustainable alternative energy sources in Canada and the USA.
The company has its UK and European headquarters in Nottingham. Its CEO is Russ Burton, who has worked at a senior level in the property and commercial sectors for thirty years. SHARC represents the realisation of his personal interest in the renewable energy industry.