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material-change

Ed Bastow, Managing Director Project Star/Symonds Farm AD. www.material-change.com. Summary. Material Change Ltd AD development and risks Symonds Farm Power Limited. Symonds Farm AD March 2011. Material Change Limited. Established 2002 Composting contract equipment Own operating sites

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material-change

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  1. Ed Bastow, Managing Director Project Star/Symonds Farm AD www.material-change.com

  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

  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.’ Schematic plant layout Feed hopper Gas flare First phase fermentation Gas storage Gas engine Secondary fermentation

  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 • Lease • Feedstock • Daily operations • Solid & Liquid digestate use Symonds Farm Power Ltd Heat sales Electricity sales ROC sales Embedded benefits

  11. Tank base preparation

  12. Tank construction

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

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