Burges Salmon leads £59.6 million joint venture in Government-backed Peak Cluster Project

The JV brings together leading producers in the cement and lime industry Breedon, Tarmac, Holcim and SigmaRoc, together with Progressive Energy and Summit Energy Evolution, as experts in industrial decarbonisation.

Established on a performance-based vesting model, the JV boasts a £59.6 million equity raise, including a landmark £28.6 million equity investment made by the National Wealth Fund to support the development of Peak Cluster’s planned carbon dioxide transportation pipeline.

Burges Salmon’s Edinburgh-based Corporate and M&A team advised Peak Cluster, led by partner Danny Lee and senior associate Katie Carter.

Danny comments: “We are proud to have played a role in the creation of the Peak Cluster JV, a flagship project that aims to secure a decarbonised future for 40% of the UK’s cement and lime industry. The investment from the National Wealth Fund is a testament to the project's ambitious vision and its potential to drive significant positive change within the industry. Our extensive experience in industrial decarbonisation projects and the establishment of successful joint ventures made us well-suited to support our client throughout this lengthy and complex process.”

John Egan, CEO of Peak Cluster Ltd, says: “Peak Cluster is focused on securing a sustainable future for the cement and lime industry. Together with our partners, we will capture, transport and store carbon dioxide emissions to support a critical UK industry to thrive in a low carbon future economy. We found Burges Salmon a pleasure to work with. The team, through Danny and Katie, bought into our vision from the start and their expertise and collaborative efforts ensured our objectives were met throughout the negotiation process.”

Burges Salmon has a strong Corporate and M&A team advising multi-national organisations and institutions, entrepreneurial businesses and high net worth individuals. Working closely with the firm’s ESG and Net Zero services, the team advises on the implementation of Net Zero strategies across commercial and industrial buildings, renewable energy technologies, and low-carbon transport, guiding clients through evolving regulatory requirements and emerging opportunities.

Read the article online at: https://www.worldcement.com/europe-cis/16072025/burges-salmon-leads-596-million-joint-venture-in-government-backed-peak-cluster-project/