£5.25m P2P Funding Sought for Grangemouth Biofuel Plant

VIDEO: Planning Permission for Celtic Renewables’ Whiskey Waste to Biofuel Plant

Celtic Renewables has secured planning permission from Falkirk Council to build a commercial demonstrator plant, which will produce over half a million litres of biofuel each year from whiskey wastes.

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Scottish biofuel start-up, Celtic Renewables Ltd, has secured planning permission from Falkirk Council to build a commercial demonstrator plant, which will produce over half a million litres of biofuel each year from whiskey wastes.

The company has established a new PLC – Celtic Renewables Grangemouth PLC – specifically to deliver this plant in Grangemouth and has now launched a funding campaign seeking to raise £5.25 million through an ISA eligible investment with p2p investment platform, Abundance Investment.

“We champion renewable projects across the UK and Celtic Renewables absolutely fits this remit,” explained Abundance Co-founder & Managing Director Bruce Davis commented.

“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,” he added.

Working with Tullibardine Distillery in Perthshire, Celtic Renewables said that it is recovering 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.

Based in Grangemouth, the two-acre site will produce Biobutanol, the new advanced and sustainable biofuel made using whisky residue that is a direct replacement for petrol and diesel. The resulting fuel was used for the first time in a car in July this year.

Company Founder and President, Professor Martin Tangney, said: “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.”

Mark Simmers, CEO of Celtic Renewables Ltd, added: “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.

“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,” continued Summers.

With news that the plant will create 25 jobs in the local area, Councillor Cecil Meiklejohn, Leader of Falkirk Council commented: “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.”

With planning permissions now in place, building of the commercial demonstrator plant is due to begin in early 2018.

A video explaining the process can be viewed below.

https://youtu.be/fGeli4k7_54

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