In Perpetuum Partners was engaged to review the business plans and supporting data for the pyro-fuels proposition with financial investment from a family office. We carried out this work by following our proprietary 7-layer model for such reviews and developing an index for an anticipated virtual data room. The availability of evidence was cross checked against this virtual index.

The outcomes of the project were:

• Our assessment indicated that now (2020) is a good time to take forward the concept into a business proposition. We understand that there are a number of competing, similar technologies being developed and while there is a risk that these could move to market sooner than this opportunity, the preferred investment and development strategy will influence funding options.
• In order to take the business forward, a clear investment strategy and a well-coordinated, and suitably qualified and experienced management team is needed.
• This team should engage and build on existing work to solidify the evidence base and confirm the levels of investment returns at EBITDA level before supporting the existing partners in seeking new development partners. This will include consideration of what type of new investment partner would offer benefits to the project.
• A new team was created in 2021 through the organisation of Terrae Novo Ltd to take this forward and the investors announced investment through to financial close which should take place in Q4 2023.

In Perpetuum Partners LLP was engaged to provide a strategic review of a wood for energy processing facility in Europe. We reviewed the operations at site and reviewed the markets, including the European market for the products from site. We also reviewed potential alternative complementary technology options and the policy landscape as part of a review of the Strengths, Weaknesses, Opportunities and Threats facing the business.

The outcomes of the project were:

• Fulfil the commercial shortcomings of the business. This would add €10Mn to business revenues per annum.
• Mitigate threat of business closure from a total market failure precipitated by current policy debates. This would prevent business closure.
• Pursue the opportunity for additional revenue from chip procurement and sales. This would add €7Mn to business revenues per annum.
• Invest in opportunity to make and sell Premium Pellets. This would add €7Mn to business revenues per annum for an investment of €150k.
• Invest in sugar technology. This would add €5Mn per annum to revenues for an investment of €5Mn.
• Invest in a sugar extraction unit. This would add €2Mn per annum for an investment of €6Mn.