©Celtic Renewables 2017 Mark William Simmers (l) Martin Gerard Tangney (R)Celtic Renewables: Slainte !
- Whisky Residues as Feedstock for Biochemicals Plant

December 2017. Scottish Celtic Renewables Grangemouth plc has launched a funding campaign seeking to raise £5.25m through an ISA eligible investment with Abundance Investment Ltd. In December it 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.

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.

Based in Grangemouth, the two-acre site will produce Biobutanol. Used in a car for the first time in July 2017, Celtic Renewables has developed this ground-breaking process for biobutanol which is set to revolutionise sustainable transport. Company Founder and President, Professor Martin Tangney, said: “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.” With planning permissions now in place, building of the commercial demonstrator plant is due to begin in early 2018.

Abundance Investments Adds
Celtic Renewables Grangemouth is aiming to raise approximately £5,250,000 across two separate offers; one for investments of £5 or more and one for investments of £90,000 or over. This is the offer for investments of £5 or over which has now closed after raising the full amount available (£4.375m). The offer for investments of £90,000 or over is still open.

Edinburgh-based company Celtic Renewables is using a decades-old fermentation process to extract valuable chemical products from reject potatoes and whisky industry residues. These low and no value products are turned into sustainable acetone, butanol and ethanol, products that are used in a wide range of everyday products from paints to plastics to perfume and more. Biobutanol is the flagship product, as it can power cars with fewer harmful emissions.

The money from this offer will help build Celtic Renewables Grangemouth, the first commercial plant that will also act as a demonstrator and test site for other low value potential feedstocks such as waste paper and bakery residues. It will cost just over £20 million to build, almost half of which is coming from Scottish Government by way of grants and around £6 million from shareholders. The balance is being offered to Abundance investors to share in this exciting new technology development by partly funding the build. Investors will earn 15% interest a year for 2 years, paid at maturity. The plant will demonstrate the technology and process at commercial scale before rolling it out on a larger scale across Scotland and other key whisky producing countries.

Source: Celtic Renewables Grangemouth plc / Abundance Investment Ltd. 

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