In California, Los Angeles-based Arensis announced the financial close of $17 million in debt funding from Hadrian’s Wall Secured Investments Limited (HWSIL), a London Stock Exchange listed fund. The funding was secured for renewable energy facilities in the UK, expanding the company’s growth and global operations.
Arensis provides the first truly decentralized hardware/software IOT based microgrid solution, converting local organic and inorganic biomass waste into renewable energy 24/7. In the last 12 months, Arensis purchased two underperforming UK wood pellet production facilities, saving UK jobs and quickly turning each of the plant operations around by installing its biomass-to-energy technology. The strategy was completed by vertically integrating a fuel supply in the UK for heating that replaces natural gas with renewable resources. Funding will be used for loan refinancing and to complete the integration of 52 Entrade units into the pellet production facilities. Financing at this scale was possible by de-risking the project with long-term fiber supply and offtake agreements, all within the UK.
Category: Producer News