In this episode of I Squared Insights, Ben Harper, Head of Sustainability at I Squared Capital, sits down with Roger McDermott, CEO of Enva, and Bill Miller, CEO of Oriden, two I Squared portfolio companies putting brownfield redevelopment into practice.

A former quarry in Ireland and a decommissioned military site in Indiana are the starting points for this episode of I Squared Insights. Ben Harper, Head of Sustainability at I Squared Capital, speaks with Roger McDermott, CEO of Enva, and Bill Miller, CEO of Oriden, about how these two portfolio companies are putting brownfield redevelopment into practice. Their conversation explores the opportunities within previously used land and the work required to turn those opportunities into productive infrastructure.

STARTING WITH WHAT A SITE ALREADY OFFERS

At Enva’s Walshestown facility near Dublin, soils from construction sites are washed to recover sand and aggregates for reuse. Recovering more material reduces the need for newly extracted resources and limits the amount used to backfill the former quarry, extending its operating life. Following its acquisition in December 2024, Enva commissioned an expanded recovery facility in April 2026, tripling recovery capacity in approximately 16 months.

At Oriden’s Vermilion project in Indiana, existing roads, fencing, and extensive environmental studies provided a foundation for solar development. Nearby transmission infrastructure also supports plans for multiple phases. Bill explains how these inherited assets helped reduce development costs, while the team’s approach incorporated more challenging areas of the property and preserved land for other uses.

MAKING REDEVELOPMENT WORK FOR THE COMMUNITY

Both projects illustrate the importance of understanding a site’s local significance. At Walshestown, a partnership with neighboring Punchestown Racecourse is helping create an extension for flat racing. The wider restoration project also aims to reinstate Priest Hill, a historic viewing point lost to quarrying. Resource recovery and landscape restoration are therefore connected to the future of a longstanding community venue.

At Vermilion, Oriden’s proposal responded to the county’s priorities, including keeping land available for conservation and developing areas that were harder to put to other uses. Bill describes the ongoing work of listening to residents and addressing practical questions about road use and eventual decommissioning. Both leaders emphasize that being a good neighbor is a continuing responsibility throughout a project’s life.

TAKING A LONG-TERM VIEW

The discussion also considers what would help these solutions expand. Roger highlights the importance of demand for recovered materials, including through public procurement and recycled-content requirements. Bill points to transmission as a constraint on new generation, calling for incentives that could accelerate grid investment where the cost of major infrastructure is too large for an individual project to bear.

Bill explains how I Squared’s investment has enabled Oriden to move from developing projects for sale to developing, owning, and operating them over the long term. That shift supports planning for additional phases and technologies at Vermilion, alongside a continuing commitment to landowners and local stakeholders. For Roger, the foundations of a lasting business include demand for its services and the specialist capabilities required to operate the facility.

Their shared advice is practical: investigate environmental conditions early, understand where the business can add value, and commit the resources needed to deliver. A site’s history can create opportunities, but realizing them requires a clear business case and the ability to meet ongoing obligations.

Watch the full webinar for an operator’s perspective on bringing previously used land back into productive use.

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