Tuesday, 4th August, 2020

Cory Riverside Energy publishes integrated annual review

  • Company produced enough energy to power over 90,000 homes
  • 148,000 tonnes of CO2e saved compared with landfill
  • 69,000 tonnes of recyclable waste processed

Cory Riverside Energy (Cory) has published its first integrated annual review, which details its business strategy, operational performance, sustainability priorities, governance, and consolidated financial results in 2019.

In 2019, Cory produced 304GWh of energy at its energy from waste facility in Belvedere, enough to power over 92,000 homes, whilst diverting 742,000 tonnes of non-recyclable black-bin waste from landfill. This saved around 148,000 tonnes of CO2e from being released into the atmosphere.

Cory also saw strong performance across its recycling operations, sorting around 69,000 tonnes of recyclable waste at its Materials recycling Facility, with further recyclables processed through two Household Waste and Recycling Centres.

Financial performance was strong for the year. The company generated £138.1 million in revenue, and £66.8 million in profit before tax.

Dougie Sutherland, CEO of Cory Riverside Energy, said:

I am pleased to announce the launch of our integrated annual review for 2019, outlining Cory’s performance and continued commitment to providing sustainable business growth.

Cory has shown resilience and the ability to adapt to the changing needs of London. Whilst 2020 has brought new global challenges too, I am proud that the Cory team has continued to deliver essential services through the current pandemic and mitigate against any impact to our operations.

I am excited about the future for Cory as we have plans to deliver over £800 million investment into new projects particularly at a time when London needs investment in the economy and in new jobs.  I am focused on growing the business while reducing our impact on the environment.  Our plans include: the development of the Riverside Heat Network providing heat for up to 26,000 homes in Thamesmead; Riverside Energy Park - our new energy recovery facility; and in new river infrastructure so that we can take more lorries of London’s congested roads making London cleaner and safer.  Cory’s future is very bright as we ensure that there is no waste from waste.

Read the Annual review here.