Cory is one of the UK’s leading recycling and waste management companies, operating multiple sites from West to East London, including one of the largest energy from waste (“EfW”) facilities in the UK on the banks of the River Thames, processing around 780,000 tonnes of waste per annum.
- Energy
Cory Group
- Dalmore Capital Fund 3
- Dalmore Capital Fund 4
Case study overview
Waste is transported from waste transfer stations in Wandsworth, Battersea, the City of London, Tower Hamlets and Barking and Dagenham via the River Thames using a fleet of 52 barges and tugs.
This saves over 100,000 truck movements a year, getting traffic off the road and making London safer and less polluted. Cory is also developing a second EfW facility adjacent to the existing plant which will add a further 650,000 tonnes of processing capacity. Combined the two facilities will generate enough electricity to power of 370,000 homes.
Sector
EnergyFund
Dalmore Capital Fund 3, Co-InvestmentsFirst Investment date
July 2018Shareholding
36.8%
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Investment strategy
How we invest
For the past 14 years Dalmore has focused on investing in infrastructure that provides services critical to the functioning of society.
Through disciplined selection Dalmore funds have invested in lower volatility assets without significant exposure to GDP, traffic, usage or market price risk. Geographically Dalmore’s focus remains the UK, although we also manage assets in Europe and North America.
Looking forward, the UK mid-market core and core-plus segment continues to be our main focus, which we believe offers opportunities where disciplined underwriting, a thorough analysis of market exposure and local market expertise may support attractive risk-adjusted returns.