Blog: Sainsbury's invests in green energy start-up
Dean Best | 22 February 2012
UK retailer Sainsbury's has become an investor in Tamar Energy, a new firm looking to produce energy from anaerobic digestion.
Sainsbury's has joined the likes of The Duchy of Cornwall and Lord Rothschild in investing in the company in a bid to meet its targets on energy use.
Tamar was launched today (22 February) and its investors - which are spending over GBP65m to set up the business - hope it will build a network of over 40 anaerobid digestion plants in the UK.
Sainsbury's is putting up GBP2m and, despite the relatively low amount of investment, deemed it important enough to warrant an announcement to the London Stock Exchange.
"Sainsbury's is the UK's leading retail user of anaerobic digestion so we are delighted to be an investor and strategic partner of Tamar Energy," chief executive Justin King said.
The Sainsbury's chief said it would help its suppliers get access to Tamar's plants to reduce their own impact on the environment, which he said was vital part of the retailer's plans to become a more environmentally friendly operation.
"We will be working closely with our suppliers to ensure they have access to the new plants to help them reduce the environmental impact of their operations, a key strand of our 20 by 20 Sustainability Plan," King said. "With the support of our suppliers we are very confident that this new venture will be a success, helping build Tamar Energy into the UK's leading green energy company".
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