Waste2Tricity, a UK-based energy-from-waste firm, has sold 10% of its shares to Ervington Investments, an investment vehicle for Russian oligarch Roman Abramovich who owns local football club Chelsea FC after being a controlling shareholder in oil major Sibneft after its privatization from the Russian state in 1995.
Paul Heagren, a director of Chelsea FC, will be joining Waste2Tricity’s board.
Last month, Ervington Investments also acquired 15% of Waste2Tricity’s strategic shareholder, AFC Energy, for £8.6m ($12m).
Abramovich’s spokesperson said he was moving from the hydro-carbon economy to the hydrogen economy and had also invested in plasma gasification company Alter NRG, which can generate carbon from waste, and he is also reportedly interested in buying a stake in Australia-based Linc Energy, a company that has produced diesel and jet fuel from gas.
