The iCON group of funds, which are advised by iCON Infrastructure, have invested in high quality infrastructure businesses:
Verbrugge International is a leading bulk and break-bulk port terminals business based in the Netherlands.
The business consists of four tri-modal port terminals located on the Scheldt Estuary and Zeebrugge together with ancillary warehousing, marine and logistics businesses. Key products handled by Verbrugge International include pulp and paper, fertilizers, minerals, steel and various metals.
iCON Infrastructure entered into a strategic partnership with Verbrugge International in December 2013.
Mountaineer Gas is an independently operating, regulated local gas distribution company based in the United States and is the market leader in West Virginia.
Mountaineer Gas supplies natural gas to 220,000 residential and industrial end-users in its state. The Company’s distribution system is comprised of over 5,200 miles of mains and 250,000 service lines.
The iCON Team led the acquisition of interests in Mountaineer Gas in February 2011 and February 2012.
firmus energy owns a gas distribution network and energy supply business located in Northern Ireland, UK. Its network comprises approximately 870km of low pressure gas pipelines with connections to over 20,000 residential, commercial and industrial customers. It also supplies gas and electricity to over 65,000 customers across Northern Ireland.
iCON Infrastructure acquired 100% of firmus energy in June 2014.
Oslofjord Varme (formerly known as Fortum fjernvarme) is one of the largest district heating and cooling providers in Norway.
Oslofjord Varme provides approximately 215 GWh of district heating and 60 GWh of district cooling per annum to commercial and residential customers, mainly in the Oslo region. Oslofjord Varme holds three long-term district heating concessions (two in Greater Oslo, one in Mosjøen) and owns three B2B plants which it operates for large business customers.
iCON Infrastructure acquired 100% of Oslofjord Varme in June 2014.
Beckton Energy is the operating company for an environmentally friendly, 19MW combined heat and power generation project in Beckton, London.
The company will deliver heat and electricity under long term contracts to major infrastructure facilities owned by leading UK utilities located in the vicinity of the CHP plant.
iCON Infrastructure led the acquisition of Beckton Energy in March 2013.
Manicargas has ownership interests in Terminal Contentores de Leixões S.A. (TCL) and Terminal de Carga Geral e de Granéis de Leixões, S.A. (TCGL), the sole concessionaires of the container and solid bulk/general cargo terminals respectively in Leixões, the port of the city of Porto. In addition, Manicargas also owns and operates a container depot.
TCL has the capacity to handle over 600,000 twenty-foot equivalent units (TEUs) with throughput of 480,000 TEUs in 2010. TCGL has the capacity to handle over 4 million tons of general and solid bulk cargo with throughput of 2.5 million tons in 2010.
The iCON Team led the acquisition of a 38% interest in Manicargas in March 2008. iCON’s partners in the investment are Grupo ETE, a large Portuguese transport and logistics group, and Grupo Sousa, a Madeira based conglomerate.
Rothes CoRDe is the operating company for an environmentally friendly, 8 MWe / 34 MWth combined heat and power (CHP) plant in Rothes, Scotland.
Rothes CoRDe’s CHP plant is fuelled by a combination of whisky distillery by-product (draff) and wood chips. The company also owns a pot ale processing plant and operates an effluent treatment facility which serves Rothes CoRDe and local distillers. The facility has been in commercial operations since July 2013 and benefits from a suite of long-term contracts and the UK Renewable Obligation regime.
iCON Infrastructure acquired 94.7% of Rothes CoRDe in April 2015.
Service Terminal Rotterdam (STR)
Service Terminal Rotterdam (STR) owns and operates a modern, purpose built bunker fuel terminal strategically located in the Port of Rotterdam (Netherlands) with a capacity of 242,000m3 across two tank farms and a total quay length of 450 metres.
The terminal is ideally located to serve the Antwerp-Rotterdam-Amsterdam (ARA) bunker market and comprises tank infrastructure that is optimised to cater to the demands of bunker fuel traders with modern blending capabilities. STR currently operates as a dedicated facility for LITASCO, the exclusive international marketing and trading company of LUKOIL OAO, under a long term exclusive contract. In addition, STR offers board-to-board and lay-by services to a wide range of third party customers.
iCON Infrastructure acquired 100% of STR in April 2015.
Gruppo Spinelli is a leading container terminal and logistics business headquartered in Genoa, Italy.
The business consists of a port container terminal in the Port of Genoa and an associated network of container depots, warehousing and logistics facilities located across Northern Italy. In 2014, Gruppo Spinelli handled over 366,000 TEUs at its 145,200m2 container terminal, in Genoa. In addition, Gruppo Spinelli operates a network of off dock and inland container depots with a total area of 541,000m2, and its container logistics business transports over 220,000 containers each year.
iCON Infrastructure entered into a strategic partnership with Gruppo Spinelli in August 2015.
Combined Cargo Terminals (CCT)
CCT is a container port terminal business located in Moerdijk, the Netherlands.
CCT handles shortsea container services to/from the UK, Norway and Portugal and operates a major inland terminal in Moerdijk that handles deep-sea containers from barge services to/from the Port of Rotterdam, the Port of Antwerp and the European hinterland. In 2015, CCT handled 268,000 containers.
iCON Infrastructure acquired 95% of CCT in April 2016.
Bristol Water is one of the 11 regulated water-only companies in England and Wales.
Founded in 1846, Bristol Water is the sole water supplier in the Bristol area. The company provides water services to an area of approximately 2,400 square kilometres and is responsible for the abstraction, treatment, storage and distribution of approximately 266 million litres of water every day to approximately 1.2 million people.
iCON Infrastructure acquired 50.0% of Bristol Water in April 2016 through its acquisition of Capstone Infrastructure.
Capstone Power is a Canadian independent power producer with over 480 MW (net) of installed capacity.
Headquartered in Toronto, Capstone Power develops, owns and operates renewable and conventional power generation assets. The current portfolio consists of on-shore wind, solar, hydroelectric, biomass, and combined cycle gas cogeneration plants. Capstone Power has a further portfolio of development and construction stage projects.
iCON Infrastructure acquired 100% of CPC in April 2016 through its acquisition of Capstone Infrastructure.
Värmevärden is a district heating company based in central Sweden.
Headquartered in Orebro, Värmevärden owns and operates district heating plants across 10 municipalities with total heat generation capacity of 639 MW and annual heat and steam sales of c.1.1 TWh. Värmevärden’s production facilities primarily use biomass and waste and the business serves both residential and industrial customers via 4,000 supply points on its 300km pipeline network.
iCON Infrastructure acquired 33.3% of Värmevärden in April 2016 through its acquisition of Capstone Infrastructure.6.
Gasnätet Stockholm, Stockholm Gas
Gasnätet Stockholm was founded in 1853, and owns and operates the only gas distribution network in Stockholm. The network operates on a standalone basis (not connected to Sweden’s transmission grid), and comprises approximately 520km of gas pipelines, with connections to over 66,000 residential, commercial and industrial customers and over 200 GWh distributed. Its sister company, Stockholm Gas, is the only third-party gas supplier on the network.
iCON Infrastructure acquired 100% of Gasnätet Stockholm and Stockholm Gas in November 2016.
The GridLink project is the development of a 1.4GW electricity transmission interconnector between the UK and France.
The proposed interconnector will consist of a c.150km offshore subsea HVDC cable between Kent in the UK and the Port of Dunkerque in France. GridLink is currently being considered for approval under Ofgem’s Cap and Floor regime and is also in the process of obtaining the French regulator’s (CRE) approval for RTE’s participation in the project. The project benefits from strong UK government support as interconnectors address the key tenets of the UK’s energy policy. Once operational, the interconnector will provide the UK with low cost electricity, reduce CO2 emissions by an average of 1.8mt/year over 25 years and enhance the UK’s security of supply.
iCON Infrastructure owns 100% of GridLink and has partnered with Elan Energy to develop the project.