Prestige Appoints Hobbs
Prestige is pleased to announce the appointment of Dr Phil Hobbs, who has joined its Cambridge based, specialist finance arranger Privilege Finance. Dr Hobbs will be focusing on optimising new and under-performing digesters in the agricultural and food waste industries - a core area of funding growth.
Privilege Finance is owned by Prime Holdings (which also owns Prestige Capital Management) and provides integrated specialist consulting and financial solutions for small businesses within the agricultural, farming and food related sectors across the UK. It offers a range of funding strategies, including specialist project finance focused on the development of on farm energy, waste to energy and waste to heat related projects within the UK.
Dr Hobbs brings with him considerable experience in the biogas, pharmaceutical, instrumentation and aerospace industries. His work as a project manager stands him in good stead when it comes to developing high performance anaerobic digestion plants. His previous roles include working as head of bioenergy in a research institute where he developed new ideas for automated optimisation and monitoring of biogas and fermentation processes.
“Part of our long term focus as an alternative investment fund / business has been to provide finance for the development of green and sustainable energy projects in the UK countryside,” says Craig Reeves, Founder of Prestige. “Secured lending from asset managers has replaced some of the more traditional sources of funding for biogas projects. It is also important that we have a senior team with the technical expertise to help these projects become a success and to have the confidence to enable us to grow our business further.”
“Food security remains a key area of concern for the Government, as does the significant amount of waste created both by the food industries and a growing population. Equally we are seeing many small businesses look for ways to ‘finance in’ productivity and ‘finance out’ some of their rising fixed operating costs,” Reeves continued.
Now in its 10th year, Prestige Funds has raised over USD 1.5 billion globally from a diverse institutional investor base for its secured lending strategies, specialising in providing commercial finance to small companies in the UK. Privilege Finance is responsible for originating loan opportunities within some of the Prestige Funds focusing on small companies in the UK’s rural economy.
Privilege has provided financing for in excess of 50 biogas projects in the UK, and has participated in the financing of some of the largest such projects in the country.