The New Earth Group of Funds
With its New Earth Solutions and New Earth Energy operating companies that are establishing long-term utility-type infrastructure, the Group is straddling the interface between, on the one hand, waste as a liability requiring treatment and on the other, waste as a resource in the form of the re-usable materials and a source of renewable energy.
In contrast to most of its competitors, New Earth Solutions has continued to grow rapidly during the economic slowdown to become an established waste treatment provider. with a well-respected and increasingly high-profile brand. Since the summer of 2008, the Group has grown from a single site to having five operational sites.
The Directors form a strong senior management team with extensive experience in waste management, renewable energy, property, construction, and funding. The Group has invested significantly in its central overhead by establishing sufficient capability within the financial, technical, planning, and commercial teams to deliver its medium-term growth plans.
The Group’s funding strategy provides it with independent sources of project equity and junior debt combined with conventional senior debt. Subordinated debt funding lines are in place to finance the construction of the facilities with contracted revenue streams from Local Authority waste contracts and energy sale agreements. A pipeline of projects exists which is expected to generate substantial future growth and deliver ongoing investor value.
Strong and compelling market dynamics exist for the waste treatment and waste-to-energy industries. Landfill diversion targets, increasing taxes on landfill disposal, declining landfill availability, and the introduction of renewable energy targets and substantial price subsidies will further enhance the economics of waste treatment and renewable energy companies.
The management of the Group has capitalised on these attractive market dynamics to establish and grow the business through a combination of organic development and acquisition while also advancing renewable energy projects.
New Earth Solutions Group Limited went into administration in 2016. The company had been struggling financially for some time due to issues such as high levels of debt and difficulties in securing contracts. Despite efforts to restructure and find a buyer, New Earth Solutions was unable to continue operating and its assets were ultimately sold off.
The Funds
The Premier Investment Opportunities Fund Protected Cell Company plc (the “Fund”) is an open-ended investment company incorporated in the Isle of Man designed for Qualifying Investors as defined in the Scheme Particulars of the Fund. The Fund has three sub-funds (together the “Investment Funds”):
- New Earth Recycling and Renewables (Infrastructure) plc (“NERR”)
- The Premier Investment Opportunities Fund Protected Cell Company Plc (“PIOF”) and
- The Eclipse Investment Fund Protected Cell Company plc (“Eclipse”)
PIOF ( the ‘Company’) acted as a feeder fund to NERR and the investments of NERR were mainly equity and unsecured loads in the below three UK Trading Companies. As a result, due to losses, only NESGL and NESFM remained which both went into administration. When everything was winded up, the value of said investments was close to zero.
- New Earth Solutions Group Limited ( ‘’NESGL’’)
- The New Earth Solutions Facilities Management Limited (‘’NESFM”)
- New Earth Energy Facilities Management Limited ( ‘’NEEFM’’)
The Premier New Earth Fund is in liquidation. The investment objective of the New Earth Solutions Recycling Facilities Investment Sub-Funds is described as having the aim to ‘’provide long-term growth by investing directly or indirectly in Recycling Facilities in the United Kingdom and in the development of such facilities…for the processing and treatment of waste…and the conversion of waste to energy by any means’’. This information is available on a 2014 factsheet and this is what appealed to certain investors. It also showed a +89.10% net growth of the sterling sub-fund since July 2008. As liquidators were looking at possible recovery plans, it seemed unlikely investors would receive any money back.
Portfolio Bonds
The Portfolio Bonds comprise the Reserve Bond offered by Friends Provident International, the Executive Investment Bond, the Executive Redemption Bond, the Collective Investment Bond, and the Collective Redemption Bond offered by Quilter. Generali International Vision and Generali International Professional Portfolio offered by Generali. Generali Worldwide Vision, Generali Worldwide Professional Portfolio, Utmost Professional Portfolio are offered by Utmost Worldwide and Hansard International Capital Investment Bond is offered by Hansard International.
If you have purchased New Earth fund through a trustee or direct on the insurer’s platform and have lost money you may be entitled to recover money lost.
Please complete the questionnaire below to see if you qualify.