Palatine’s Impact Fund Backs Growth at Global Water and Environmental Technology Innovation Consultancy

29-02-2024

We have made our fourth investment from Impact Fund II with the acquisition of a majority share in fast-growing environmental consultancy Isle Utilities.

Isle Utilities is a global innovation consultancy specialising in the development and commercialisation of emerging technologies in the water and environmental sectors. Acting as a partner across the entire innovation cycle, Isle takes the lead on a wide range of sustainability and climate issues in water and the broader environmental sector, bridging the gap between early-stage technology and the adoption of solutions.

Isle was founded in 2010 by leading industry expert Dr Piers Clark who was, previously managing director of Blackstone-backed Global Water Development Partners and commercial director at Thames Water. Isle’s European operations are headquartered in London, with a global presence in 10 countries, employing more than 100 highly skilled engineers, scientists and business professionals with extensive and diverse consulting expertise.

Globally, water service provision is seeing huge investment as ageing, poorly-maintained assets are upgraded and improved with the adoption of digital, data-driven asset management. In the UK alone £96bn will be invested in water and sewage infrastructure between 2025 and 2030, some 40% of the total investment in the rest of Europe.

Innovation is at the heart of achieving net zero and the building of circular water companies, whilst also tackling other global challenges such as widespread water shortages, poor access to sanitation, and the increasing prevalence of micropollutants.

Isle Utilities is led by CEO, Dr Benjamin Tam, who joined the business in 2016 and has extensive water industry experience including Innovation roles at Anglian Water. Founder, Dr Piers Clark will remain on the Board as a Non-Executive Director following Palatine’s investment. Ian McAulay will join Isle Utilities as Chair, utilising his experience from previous roles, which include CEO positions at both Southern Water and Viridor.

Dr Piers Clark, Founder at Isle Utilities, said: Palatine has an impressive track record in Impact investing and ESG-driven value creation and I am excited to be working with the team to take Isle Utilities to the next level at a time of huge demand for innovation and investment in the water industry.”

Rupert Brown, Senior Investment Director in Palatine’s Impact Fund team, said: “As a purpose-led investor we are thrilled to be backing Isle Utilities, a company which shares our passion to make a difference to our planet and society.

“In the wake of the COP28 summit, the focus on water security and quality has moved further up the international agenda. Water consultancy related services are becoming more valuable, and innovation within these spaces is paramount.

“This makes Isle Utilities a great investment opportunity for Palatine and the Impact Fund. Focused on delivering returns in the right way, we look forward to supporting and working with Ben, Piers and the team.”

 

Palatine will be a great partner to support Isle on the next stage of its journey, their passion for Impact and Sustainable investment aligns exceptionally well with the culture and ethos of Isle and I am looking forward to working with the Palatine team.

Dr Benjamin Tam

CEO at Isle Utilities