Novera Energy
| website: | http://www.noveraenergy.com |
Company details
[Login to edit this information]What does it do?
Generates electricity from renewable energy sources.How is it social?
Novera is a leading figure in the UK renewable energy market. By investing in and promoting the sector the company is aiding the move towards a more sustainable, low carbon future.
What is its business model?
Novera Energy Limited is an established UK-focused renewable energy company that generates electricity from renewable sources of power using a portfolio of three businesses: wind; waste and water; and landfill gas.
In the wind business, the company currently has one wind farm operational, one consented, and a further 26 in planning or preplanning. These are all either owned by Novera or in partnership with other development companies. Novera can also install turbines on commercial and industrial sites to generate electricity.
For the waste and water business, Novera has a proposed plant that will convert Solid Recovered Fuel (SRF) (made from municipal waste left after recycling and composting) into a synthetic gas, which will then be used to generate renewable electricity.
The landfill gas business has 46 landfill gas sites, which collect methane from decomposing organics and use the gas as fuel in reciprocating engine generators. 98% of Novera's landfill gas output is sold under 15-20 year contracts to investment grade customers (e.g. government or large energy suppliers).
Novera's long-term strategy is to become the UK’s leading independent developer and owner of renewable energy assets.
Its history
The Company was originally founded in 1998 in Australia, with its headquarters in Sydney. The company was founded on the back of the Australian Government's Mandatory Renewable Energy Target (MRET) Review, and was listed on the Australian Stock Exchange in 2002. Novera has generated electricity from LFG in the UK since 2002. However, due to delays in legislating the MRET, and subsequent compromises to the original policy, the company began to concentrate solely on opportunities abroad, particularly the UK. In 2005 the company moved its headquarters to London and removed itself from the Australian Stock Exchange. It was listed on the London Stock Exchange's AIM market later in 2005. Novera reincorporated in the UK in 2007.
3i and Infinis have recently offered takeover bids for the company.
More information
| Current shareholders: | Och-Ziff, 13.0% Modal, 13.0% Kairos, 11.2% Bennelong, 9.5% Tudor, 6.5% Morley,3.9% Jupiter,3.5% |
| Chair: | Roy Franklin |
| Year of incorporation: | 2007 |
Company snapshot
| Company type: | PLC |
| Address: | 30 Bedford Street, London, GB, WC2E 9ED |
| Telephone: | +44 (0)20 7845 9720 |
| Blog: | |
| CEO: | David Fitzsimmons |
| Industrial sector: | Energy and Water |
| Social / Environmental benefit: | Climate change; |
| Certifications: | |
| Social business sector: | Alternative Energy and the Environment; |
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