Cory Riverside Energy awarded Tower Hamlets contract
London, 5 October 2017
Cory Riverside Energy (“Cory”) is pleased to confirm that it has been awarded a contract to provide waste management services to the London Borough of Tower Hamlets (“LBTH”).
The contract runs from October 2017 to March 2027, with an extension option to 2035, and will see Cory process up to 110,000 tonnes of waste from the Borough per year.
Under the terms of the agreement, Cory will be responsible for developing and running the LBTH Re-use and Recycling Centre alongside the Northumberland Wharf Transfer Station. Cory will also oversee the disposal and processing of residual waste, converting it into renewable electricity for London’s homes and businesses.
Cory will work closely with the Authority to achieve a variety of environmental objectives by encouraging increased recycling and by reducing the carbon footprint of the waste disposal process through the use of river transport.
Residual waste will be compacted at the Northumberland Wharf transfer station and then transported by barge along the River Thames to Cory’s Riverside energy from waste (EfW) facility at Belvedere, East London. This use of the River Thames avoids the significant pollution, congestion and road safety issues associated with disposal of waste using traditional road haulage. Cory’s use of its river fleet will generate annual carbon savings of 1,700t CO2e per annum, to the benefit of Londoners and the environment.
Nicholas Pollard, CEO of Cory Riverside Energy, added: “We are thrilled to have been awarded this service contract by the London Borough Tower Hamlets. We have enjoyed a solid relationship with the Authority for some years now, investing in and running the Northumberland Wharf facilities to enable transportation of waste down the ‘green highway’ of the River Thames for conversion into electricity at our energy from waste plant.”
“The waste processed from this one contract alone will enable us to generate enough electricity to power 19,000 homes, and recover 30,000 tonnes of aggregates each year from the waste for use by the construction industry.”
“We look forward to building a strong, long-lasting business relationship with Tower Hamlets and working together to ensure that the Borough’s waste is treated responsibly and sustainably.”
A Tower Hamlets Council spokesperson said: “Following a rigorous procurement exercise, Cory has been awarded our new waste disposal contract. We know how important it is to keep the borough clean and protect the environment and our waste disposal contractor plays a big part in that. Making sure we have the right company to run our Re-use and Recycling Centre, dispose of our residual waste appropriately and provide cost effective waste services is important to us and our residents.”
For further information, please contact:
Andy Rivett-Carnac, Henry Wallers, Caroline Dobbin
+44 (0)20 3805 4822
Notes to editors:
- Cory Riverside Energy is one of the UK’s leading resource management, recycling, and energy recovery companies.
- Riverside is the largest operating Energy from Waste facility in the United Kingdom, with a unique river-based infrastructure on the Thames for delivering waste.
- Cory Riverside Energy is currently majority owned by funds advised or managed by Strategic Value Partners LLC or its affiliates.
- The existing shareholders have been in place since 2015, and since then have overseen a major restructuring programme, with three of Cory Group’s four business lines sold:
- June 2016: Sale of Cory Group’s municipal collection business, Cory Environmental Municipal Services Ltd, to Biffa Waste Services Ltd.
- July 2016: Sale of Cory Group’s national waste brokerage (“Brokerage”) businesses to Reconomy. Brokerage comprised UK Nationwide Skip Hire Limited, trading as Skippy Nationwide, Skips @ Home Limited, trading as Skip Hire UK, and Cory Environmental Recycling Services Limited.
- January 2017: Sale of Cory Group’s landfill sites and associated landfill gas operations, across 14 locations in the UK, to Armour Group Holdings Ltd.
- 2016 was a record year for Cory Riverside Energy, which has had an exceptionally strong operational track record, operating at its full permitted capacity since day one.
- Other highlights include:
- 528 GWh of baseload electricity generated;
- 753,000 tonnes of waste diverted from landfill;
- 100,000 truck journeys removed from London’s road every year thanks to our Thames river infrastructure;
- Equivalent of 160,000 homes powered;
- 230,000 tonnes of carbon saved by not sending waste to landfill;
- 200,000 tonnes of ash recycled as road aggregate;
- 10,000 tonnes of Air Pollution Control Residue recycled to create building blocks used in construction.
The waste processed from this one contract alone will enable us to generate enough electricity to power 19,000 homes, and recover 30,000 tonnes of aggregates each year from the waste for use by the construction industry.