Ashurst advises renewable energy developer IBMS Group on investment by Lazard Asset Management

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    The DBE Energy plant contributes to both the decarbonisation and circular economy ambitions of the UK by producing green, renewable gas from organic waste and supplying it to the National Grid for commercial and domestic use as a carbon neutral alternative to fossil gas.

    The state-of-the-art anaerobic digestion facility began receiving local food waste in January 2020, has the capacity to process up to 25,000 tonnes of food waste each year and to produce 2.3 million cubic metres annually of clean, green, biomethane for approximately 700 homes. The company has the potential to be scaled up, and its long-term ambition is to further grow the business through, for example, considering developing further AD projects.

    The Ashurst team was led by energy partner Michael Burns, assisted by counsel James Shepherd and associates Shaan Swaris and Jo Lee. Partner Ruth Buchanan, supported by senior associate Liz Parkin and associate Natalie Flynn advised on employment matters. Global markets partner Helen Jones and senior associate Louise Young also advised.

    Commenting, partner Michael Burns said:

    "It has been great to work for IBMS to help set up a new partnership with Lazard Asset Management for future development and growth in anaerobic digestion, a sector where we foresee there is going to be significant consolidation over the next 12-24 months."

    Commenting on the Ashurst team's performance, Steve Sharratt OBE, said:

    "Our relationship with Ashurst is a new one. We appointed them based on their strong track-record of working on the establishment of energy and infrastructure platforms with infrastructure fund investors. We saw that experience in action on the deal and they were able to translate the prior experience into delivering solutions within the context of our transaction."

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