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Presentation on theme: " Ed Bastow, Managing Director Project Star/Symonds Farm AD."— Presentation transcript:

1 Ed Bastow, Managing Director Project Star/Symonds Farm AD

2 Summary Material Change Ltd AD development and risks Symonds Farm Power Limited

3 Symonds Farm AD March 2011

4 Material Change Limited Established 2002 Composting contract equipment Own operating sites Local Authority contracts Depackaging equipment PAS100 compost certification

5 Heathpatch Group Heathpatch Ltd PVP GmbH Global Recycling Solutions Limited Material Change Limited Boxon Swift Renewable Energy K W Holdings Camden Boss Limited Camden Shenzhen BOSS Enclosures Ingleton Homes

6 AD Development Economic advantage needed – heat user, gas to grid, private wire Mixed feedstocks – farm and waste based Symonds Farm in construction Pipeline but more needed, range JV to technology sale Lots of froth and not much action among competitors

7 Project risks Development – security/project funding Electricity subsidy - FIT (REFIT)/ROC Waste streams Grown crop failure Wheat prices Technology

8 agraferm technology Agraferm Group provides turnkey and best quality systems in accordance with industrial standards, as well as full service from a professional partner for effective solutions to biogas production. First phase fermentation Feed hopper Gas storage Secondary fermentation Gas engine Gas flare Schematic plant layout

9 Symonds Farm summary MCL/Symonds Farm Joint Venture £5m Capex £1.4m equity, BDO non recourse funding £0.75m diversification grant Equity IRR 18% Whole project IRR 12% 1.4MW electricity Private wire sales

10 JV structure Material Change Ltd Planning Technology Project management Technical support Operating contract Waste Symonds Farm Power Ltd Symonds Farm Lease Feedstock Daily operations Solid & Liquid digestate use Heat sales Electricity sales ROC sales Embedded benefits

11 Tank base preparation

12 Tank construction

13 Symonds Farm timetable Silage clamp and civils groundworks 50% complete Tank construction starts 30 th May Commissioning starts November 2011 Full production February 2012

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