Iona Capital, the specialist environmental fund manager, is opening a northern office in York to increase its focus on its growing portfolio of biogas infrastructure assets in Yorkshire.
Currently Iona has £75m of investments in nine facilities in Yorkshire, generating enough electricity in a year to power 12,400 homes, and enough gas to heat a further 5,600. The environmentally friendly energy plants save the equivalent of 37,300 tonnes of CO2 each year.
The office will have a team of 25 in the region, with another 13 employed indirectly to support the business, many of these roles will be new appointments.
Mike Dunn, co-founder of Iona, said: “Yorkshire is an increasingly important market for us. We not only have our portfolio of facilities in the county but also investors, such as West Yorkshire Local Authority Pension Fund, are excited by our regionally based approach to renewable energy infrastructure. York is also a great location within the region as it has excellent transport links which means we can easily visit our sites across the region and of course London is only two hours away by train.”
The office is based in Westminster Place, part of York Business Park.
Iona’s portfolio of investments stretches from Brocklesby, near Hull, to Leeming outside Northallerton, Gravel Pit, just north of York and New Mill, Wray House, Washfold, Home Farm, Westholme and Howla Hay, which are all near Thirsk. It also owns and operates another 10 facilities outside Yorkshire.
These plants generate biogas, which is used either to generate electricity or heat businesses or homes, from agricultural and food waste.