ROMCO Raises $6.2million in Series A Equity Round and Achieves Valuation of $180million

Romco, an international metals recycler producing clean and sustainable essential metals that decarbonise the global supply chain, has announced a $6.2million investment to expand its operations and immediately drive revenue growth.

“Ex-London Plumber Taps African Aluminum Scrap as Prices Soar”, Mark Burton from Bloomberg writes about Romco Group (read article here) regarding Romco’s recent Series A equity raise. “London-based Romco raises $6.2 million to fund growth plans,” Mark continues, “as deepening shortages push aluminium to record highs, a London-based startup is raising cash to boost production of the critical industrial metal from untapped reserves of scrap in Africa’s biggest cities.”

“We have seen huge growth over the last two years, something that is clearly giving our investors confidence and positioning Romco as an innovative business. The additional capital will enable upgrades to existing facilities and increase feedstock capacity for them to process into quality, truly low-carbon materials.”

— Raymond Onovwigun, Romco Group CEO

In order to build on significant growth in 2021, with quarterly revenues of $9.1m set to more than double to $20-$25m quarterly for 2022, and recycling levels up 220% on the previous year, Romco has sold 3.39% of equity, valuing the company at $180m. The fundraise reflects the strength of Romco’s track record, its prospects, profitability and investor confidence in the Company’s medium to long-term growth strategy.

The Company has a very strong sustainable commodity investment case as it seeks to decarbonise the global metals supply chain. By 2025, Romco aims to produce 100,000 metric tonnes a year of metal through the operation of 7 plants. Romco produces metals for blue-chip automotive and industrial OEMs and its volume of recycling is expected to reduce the metal production industry’s CO2 by 338,000 t/CO2 per annum, equal to 354 round-the-world Boeing 747 flights, saving 1.2 mln mWh per annum of electricity, equivalent to powering 315,000 UK homes a year.

The Company also announces that is has signed up to private company share trading platform Asset Match, in order to provide more investors with secondary market access to its exciting investment case.

Romco founder and CEO, Raymond Onovwigun said:

“At Romco, we are transforming the production of metals to help solve the climate crisis. With demand for aluminium due to grow 80% by 2050, and current demand producing more CO2 than the entire aviation industries CO2 emissions, its production needs to urgently be decarbonised. This latest investment in our business will supercharge the growing recycling sector in Africa and provide a scalable model for other emerging markets.

“We have seen huge growth over the last two years, something that is clearly giving our investors confidence and positioning Romco as an innovative business. The additional capital will enable upgrades to existing facilities and increase feedstock capacity for them to process into quality, truly low-carbon materials.”

Romco currently operates metals recycling sites across Sub-Saharan Africa. The Company has plans to rapidly expand its facilities to increase the rate of metals recycling in Africa, where only 1% of the world’s recycled aluminium is processed. Romco is perfectly positioned to capitalise on the growth of this market, aiming to increase Africa’s rate of recycling to 5% in the next five years by opening five more factories to produce secondary materials from all coasts of the African continent.

Romco has built its business leveraging technical know-how and investing in local supply chain partners who can grow together as the business continues to evolve. This brings significant first mover advantage through a Small Business Buying Programme that’s creating thriving local sustainable businesses.

More than 3% of the world’s power is used to produce aluminium with some estimates putting the cradle-to-gate CO2 emissions as high as 20 metric tonnes for every one tonne of aluminium produced. Romco’s recycling facilities produce aluminium using 95% less power and water.

Acorn Property Group: Brooks Dye Works Reaches New Heights at Milestone Topping Out Ceremony

Acorn Property Group were delighted to join Galliard Homes and Halsall Construction to celebrate the ‘topping out’ of our award-winning 113 home Brooks Dye Works development in Bristol’s St Werburghs last month.

Built on the former 19th century dye works, a key regeneration site in St Werburghs, the topping out ceremony marked the final tile being placed on the last roof of the scheme.

With works beginning on site in 2019, the ceremony was an exciting landmark for our team and partners, Galliard Homes and Halsall Construction. Held on the roof of the new apartment block, the final phase of the scheme, with the final tile signed by Andy Corp, Managing Director of Halsall and Robin Squire, Regional Managing Director at Acorn’s Bristol office, before being hung in place.

Andy Corp commented:

“We are delighted to be working with Acorn and Galliard again on what is our flagship site. The new homes fit perfectly into the surrounding area, and we’re thrilled to be celebrating with our customers on this important milestone in the delivery of the scheme”.

Robin Squire said:

“We are proud to celebrate this key milestone. It’s fantastic to see this exciting project in Bristol come to life, working with Halsall to deliver a scheme which not only addresses the need for new homes in the area, but focuses on sustainability and wellbeing, by bringing a disused site back into use and improving access to public space for the local community.”

George Baffoe-Djan, Head of Strategic Partnerships at Galliard Homes said:

“Seeing the site today and how far it has come within the last few months is an achievement in itself. It’s been a great partnership between us all and I hope that we can work on similar development together in the future.”

During the topping out ceremony, Andy, Robin and George were joined by other team members involved in the development of the site.

Centred around the local landmark chimney of the historic former dye works factory, the scheme offers access to open green space with new pedestrian routes to the neighbouring Mina Road Park and new Alfred Brooks Square.

Designed with energy efficient features both inside and out, all homes are rated EPC B which mean running costs of a new home at Brooks Dye Works can be reduced by up to 30% compared to an average UK home.

Godwin appoints affordable housing expert to spearhead pipeline and homes growth

UK property developer Godwin Developments announces the appointment of Emma Webster, a highly experienced housing association professional, to the position of Associate Director of Partnerships to lead the company’s affordable housing expansion plans nationwide.

With an impressive 10-year track record in delivering homes for general needs and specialist housing – including Extra Care and Women’s Refuge – Emma has considerable expertise in securing land opportunities as well as managing the planning and construction process to increase the provision of affordable housing.

Utilising her in-depth knowledge in the sector, she will focus on developing Godwin Developments’ long-term strategic relationships with registered providers to expedite the delivery of new homes – both apartments and houses – across the country. She will be based at the company’s Birmingham Head Office, and will work closely with Associate Director, Tom Smallbone, and Development Manager, Claudine Tracey.

Prior to joining the business, Emma worked as Land Manager at Bromford Housing Group, a major UK housing association, where she managed many projects across central England and the South West. Her expertise was also honed through projects delivered for registered providers such as Rooftop and Citizen (formerly WM Housing Group), where she managed regeneration schemes in Solihull alongside Solihull District Council. Whilst at Housing 21, the specialist extra care housing provider, she sourced and exchanged on her first scheme within 9 months.

Matt Chandler, Managing Director of Godwin Developments, commented: “2021 has been a transformational year for our business and we’re looking forward to building on our success in 2022, which in addition to our aspirations in the BTR, commercial and industrial sectors also includes delivering more high-quality affordable houses and apartments. Emma’s strong experience and knowledge in affordable housing will be a real asset and we are pleased to welcome her to the team.”

Emma Webster, Associate Director of Partnerships at Godwin Developments, said: “There is a well-documented and urgent need to create more homes for people up and down the country that are of good quality and available for those unable to access open market properties. One of the most effective ways to address this requirement is to build more partnerships between registered providers and development companies that are committed to making a difference.

“This is why I am excited to join Godwin Developments who have clear plans to grow the UK affordable housing stock. I look forward to harnessing my knowledge, experience and relationships with housing associations and local authorities to bring forward new projects in 2022.”

In addition to her professional career, Emma works with several sports organisations including the Worcestershire FA, promoting equality, diversity and best practice. She is also currently undertaking Chartered Management Institute Level 7 qualification in Strategic Management and Leadership Practice and has a passion for bringing forward the next generation of leaders in the property sector.

Godwin Developments is an experienced national property developer with a focus on residential, commercial and mixed-use schemes, in partnership with the public and private sectors. The company employs over 45 property professionals across the UK supported by a Property Advisory Board of leading industry professionals.