Los Angeles-based Arensis has closed on $17,000,000 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.
Courtesy of Arensis
Arensis provides a decentralized hardware/software IOT based microgrid solution, converting local organic and inorganic biomass waste into renewable energy. 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.
“The projects will produce ~85 GWh of thermal energy per year, helping the UK prevent at least 20,000 metric tons of greenhouse gas emissions annually,” stated Arensis Corporate Investment Director, Tony Morberg.
Arensis CFO, Nick Tarditt, added, “Hadrian’s Wall Capital conducted exhaustive legal, technical, operational and financial due diligence and I’m very proud of our team for accomplishing this milestone transaction. We are all thrilled with the outcome and the new partnership with HWSIL.”
The company stated, "Arensis is making a global impact as a provider of energy access to remote regions and rural areas currently without grid access to electricity or natural gas," adding that Arensis is bringing relief support to those most impacted by climate change.
"The decentralized energy units offer an off-grid disaster relief solution when the electrical grid goes down in a natural disaster."