Agrivert Gets $150 Million to Finish U.K. Waste-to-Power Plants

Agrivert Ltd., a U.K.-based provider of waste-recycling facilities, secured 96 million pounds ($150 million) in refinancing to help complete two power plants that will turn waste into electricity.

Of that amount, the company raised 63 million pounds of debt from GCP Infrastructure Investments Ltd., it said Friday in an e-mailed statement. The 17-year, fixed-rate loan replaces more costly short-term debt. Existing shareholders have re-invested the remainder as part of the deal, allowing Alcuin Capital Partners LLP, Agrivert’s private equity backer, to exit fully.