Wheelabrator U.K. and Multifuel Energy become enfinium

June 3, 2021 | News Releases

LONDON, United Kingdom (June 3rd, 2021)

Wheelabrator U.K. and Multifuel Energy Limited today announce the integration of the two businesses into a single operating group, rebranded as enfinium. The company recognised the rebranding of the combined company with internal launch events at the Ferrybridge, Kemsley and Parc Adfer waste-to-energy facilities in the last week of May.

enfinium is the largest pure play waste-to-energy business in the U.K. and is a developer, owner and operator of seven strategically located waste-to-energy facilities in operation or advanced development. enfinium is an integral part of the U.K.’s environmental infrastructure, diverting waste that cannot be reduced, reused or recycled from landfills and export, and providing residents and businesses with local, sustainable waste treatment solutions, converting residual waste into heat and partially renewable power.

enfinium’s vision — Making a difference to deliver a cleaner tomorrow — guides the company’s strategy, priorities, and the opportunities it creates for its people, partners and communities. The enfinium logo reflects a horizon and a continued focus on the circular nature of our world and a brand promise to be a better partner for a cleaner world. The company’s five core values; safety on purpose, one team, pride matters, make a positive impact and take ownership, inform everything we do.

enfinium continues to execute on the company’s growth agenda with the Skelton Grange, 410,000 tonne per annum waste-to-energy facility in Leeds on track for financial close this month. Today, enfinium processes 2.3 million tonnes of residual waste, which cannot be reduced, reused or recycled, transforming waste into 1.8 million MWh of partially renewable electricity to power 500,000 U.K. homes, and is on track to deliver sustainable waste infrastructure to process 3.5 million tonnes of post-recycled waste, enough to power 820,000 homes by 2026. The company which is headquartered in London, employs 225 employees across four locations, in Yorkshire, North Wales, Kent and London, and generates significant economic benefits for the local community each and every year. The company’s new website www.enfinium.co.uk provides further information on the business and the way that waste-to-energy helps power homes, businesses and the circular economy.

The Board of Directors are pleased to appoint Sir Peter Gershon as Chairman of the enfinium Board, effective 1st July, 2021. A mathematician by training with extensive governance and Board experience, Peter most recently served as Chairman of National Grid plc for over 9 years until retiring at the end of last month. He is also the Chairman of the Dreadnought Alliance and Join Dementia Research. Alongside extensive private sector expertise, Sir Peter has held a number of senior positions within U.K. Government, including the Chief Executive Officer of the Office of Government Commerce, a non-executive director at HM Treasury, as well as leading the independent “Gershon Review” into U.K. Public Sector Efficiency. He is also a fellow of a number of bodies, including the Royal Academy of Engineering, the Institution of Engineering and Technology and the British Computer Society. Sir Peter joins Hamish Lea-Wilson and Nick Grant of First Sentier Investors (FSI) and Julia Watsford, Chief Executive Officer who have been members of the Board since FSI’s acquisition of the two businesses in February 2021. Additional non-executive directors will be added to the board over the course of 2021.

Julia Watsford, Chief Executive Officer of enfinium, said, “We are very excited to announce our new name and brand which reflects the combined company that we are today, and our mission for the future – to power green communities and the circular economy. The integration of Wheelabrator Technologies U.K. and Multifuel Energy Limited into the largest pure play waste-to-energy operator in the

U.K., has positioned our business to deliver best-in-class facilities supported by the best people, to deliver our essential service and drive a sustainable future. Our four operating facilities, Ferrybridge 1, Ferrybridge 2, Kemsley and Parc Adfer continue to deliver industry leading availability and reliability and we continue to advance our investment in new, strategically located waste infrastructure to support the green recovery. Our team are working tirelessly to achieve financial close on enfinium Skelton Grange later this month and enfinium Kelvin in the third quarter, with construction on both projects expected to commence this year. We look forward to welcoming Sir Peter to the enfinium Board of Directors and continuing to work with the team at FSI to deliver our strategic objectives, our commitment to operational excellence, customer service and sustainability: A better partner. A cleaner world.”

Hamish Lea-Wilson, FSI, said “Today represents a huge milestone in the integration of the two businesses and the vision that we have had for the company for over 18 months. enfinium comprises stand-out assets, which are truly best-in-class for the sector in terms of their location, technical efficiencies and management, and is an industry leader in waste-to-energy. FSI is fully committed to supporting the growth of the business and we look forward to working with Sir Peter to ensure enfinium delivers on our new and exciting brand promise.”

ENDS

For more information about enfinium, please contact Philip Curds by calling +44 (0)7990 031729 or emailing philip.curds@enfinium.co.uk.

Notes to editor:

About enfinium

enfinium is the largest waste-to-energy business in the U.K. and is an industry leader in the conversion of non-recyclable residential and business waste into heat and partially renewable power. enfinium currently has a platform of seven (three under advanced development) strategically located facilities across the U.K. Today, enfinium has an annual waste processing capacity of over 2.3 million tonnes, and a total combined electric generating capacity of 247MW (gross) — enough energy to power more than 500,000 U.K. homes. By 2026, the company will have an annual waste processing capacity over 3.5 million tonnes, and a total combined electric generating capacity of 380MW (gross) — enough to power more than 820,000 U.K. homes. The vision “Every day, we make a difference to deliver a cleaner tomorrow” speaks to the company’s ongoing commitment to the development of clean and renewable energy solutions for its customers and local communities. For more on enfinium, please visit www.enfinium.co.uk.

About First Sentier Investors

First Sentier Investors are stewards of over €130 billion in assets managed on behalf of a client base that extends across Asia, Australasia, Europe and North America. With more than twenty years’ experience in infrastructure investment, it is one of the longest established managers of infrastructure assets on behalf of institutional investors and currently manages approximately €12.0 billion of equity invested across assets in the utility, transport and energy infrastructure sectors in Europe, Australia and North America. The transaction represents an important cornerstone investment of FSI-managed European Diversified Infrastructure Fund III, a European domiciled, euro-denominated fund. FSI operates as a standalone business owned by the Mitsubishi UFJ Trust and Banking Corporation, a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc.

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