Celtic Renewables Ltd, the innovative Scottish start-up providing next-generation biofuel, has secured planning permission from Falkirk Council to build a commercial demonstrator plant in Grangemouth, which will produce over half a million litres annually of biobutanol.
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The pioneering young company has recently established a new public limited company (PLC) – Celtic Renewables Grangemouth PLC – specifically to deliver this plant in Grangemouth and has launched a funding campaign seeking to raise GBP 5.25 million (≈ EUR 5.9 million) through an ISA-eligible investment with leading “people-to-people” (p2p) investment platform, Abundance Investment.
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, said Bruce Davis, Cofounder and Managing Director at Abundance Investment.
Based in Grangemouth, the two-acre (0.8 hectare) site will produce biobutanol, an advanced and sustainable biofuel made using whisky residue that is a direct replacement for petrol and diesel.
Used in a car for the first time in July 2017, Celtic Renewables has developed this ground-breaking process for biobutanol which the company says is set to revolutionize sustainable transport.
This is a very exciting time for biotechnology in Scotland. Our plant, which will use entirely sustainable raw materials to make high-value low carbon products, will be the first of its kind in the world. It will shine a global spotlight on innovation in Scotland in the low carbon economy, said Professor Martin Tangney, Founder and President.
Working closely with Tullibardine Distillery in Perthshire, Celtic Renewables is helping to derive value from the production residues of the malt whisky industry in Scotland which currently produces almost 750 000 tonnes of draff and 2 billion litres of pot ale, by converting it into much-needed advanced biofuel and other high-value low carbon products.
This is a huge step forward for Celtic Renewables as this demonstration plant will enable the rollout of the technology at full industrial scale across Scotland and internationally. 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 Governmental agencies, said Mark Simmers, CEO of Celtic Renewables Ltd.
With planning permissions now in place, construction of the commercial demonstrator plant is due to begin in early 2018 and it is expected to create 25 jobs in the local area.
The new Celtic Renewables Grangemouth commercial demonstrator plant is great news for the local economy. Celtic Renewables choosing Grangemouth as the location for such an innovative facility is further proof that the Falkirk area is the prime location for Chemical Sciences development in this country and strengthens our imminent bid for growth deal funding to position Falkirk as the manufacturing and innovation hub for Scotland, said Councillor Cecil Meiklejohn, Leader of Falkirk Council.