A host of private sector organisations including Interserve, Lloyds Banking Group and JLL have all backed a new initiative aimed at reducing the estimated 15bn waste costs incurred by the private sector, by championing the circular economy in the workplace.
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Financial incentives for redistribution and publicly reported data on food waste were among the proposals put forward by business and political figures at a high-level panel discussion about food waste in Westminster. On Monday, Scotland-based Aggreko announced that it would be acquiring Germany-based energy storage company Younicos for 40m. Younicos delivers modular and scalable smart energy storage and has over 200 MW of installed storage systems, with a strong pipeline across both developed and emerging markets. The Younicos CEO, Stephen Prince, will report directly to Chris Weston, Aggreko Chief Executive. For the calendar year 2016, Younicos had revenuesof 7m and made an operating lossof 15m; gross assetsat 31 December 2016 were 20m. Aggreko expects it to be loss making in the short term and therefore earnings dilutive. The investment will be made in cash. Chris Weston, Aggreko Chief Executive, said:As energy markets continue to decarbonize, decentralize and become more digital, the integration and control of multiple energy sources, including thermal and renewable, will be essential to ensure the provision of reliable power. As a pioneer of smart energy solutions based on battery storage, Younicos is at the forefront of this trend. Together we are a powerful combination; our scale, fleet and global presence, coupled with a smart energy capability, will allow us to open up new markets and provide our customers around the world with a reliable, cheaper and cleaner source of energy. |
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