May 8 (Renewables Now) - Verto Management LLC, the entity behind a newly launched asset management and investment platform, has secured an initial mandate to manage over USD 190 million (EUR 159.5m) of waste to value and integrated renewable energy assets for John Hancock USA.
Verto said in a statement on Monday that it has received an investment from K Road Verto LLC, led by power industry veteran William Kriegel, so it could launch its platform. The company’s strategy is to focus on assets that transform, utilise and integrate waste and lower grade material sources for the purpose of producing renewable heat, power, materials, chemicals, gas, solid and liquid fuels.
The initial mandate from John Hancock USA involves waste-to-energy projects in the UK as well as US wood pellet infrastructure investments in association with Enviva Holdings LP, the announcement says.
Verto added it is also pursuing a pipeline of potential project investments and acquisitions in North America, Europe and Australasia.
(USD 1.0 = EUR 0.839)