Biofuel start-up Celtic Renewables has secured planning permission from Falkirk Council in Scotland to build a commercial scale demonstrator plant. Once completed, the new facility will produce over half a million litres of biofuel a year, according to a statement from Celtic Renewables.
The two acre-site in Grangemouth will produce biobutanol, an advanced biofuel made using whisky residue. The fuel can be used as a direct drop-in for petrol and diesel.
“This is a huge step forward for Celtic Renewables as this demonstration plant will enable the roll out of the technology at full industrial scale across Scotland and internationally,” said Mark Simmers, CEO of Celtic Renewables.
“Grangemouth is the perfect location for the plant, where we can benefit from the synergies of locating within the national petrochemical hub and work with a range of complementary partners with the full support of local and national Government agencies.”
The start-up company has established a new PLC: Celtic Renewables Grangemouth PLC, specifically to deliver the new facility. A funding campaign has been launched which seeks to raise £۵.۲۵ million through an ISA eligible investment with P2P (peer-to-peer) investment platform, Abundance Investment.
Abundance cofounder & managing director Bruce Davis commented: “We champion renewable projects across the UK and Celtic Renewables absolutely fits this remit. The new demonstrator plant is an exciting step forward for biotechnology innovation for the UK. It is a win-win for our investors seeking to diversify their investments in the transition to a clean growth economy.”