Crowdfunding launched to finance UK's first whisky residue plant in Scotland

Written by: Editorial staff | Published:
From left to right: Mark Simmers, CEO and Professor Martin Tangney, founder and president of Celtic Renewables

Scottish biofuel company Celtic Renewables has launched a funding campaign to build the UK's first biofuel plant at a whisky factory in Grangemouth.

The plant will produce Biobutanol, an advanced and sustainable biofuel made using whisky residue that is a direct replacement for petrol and diesel.

Celtic Renewables has already obtained planning permission from Falkirk Council to build on the site but now needs to raise £5.25m through an ISA eligible investment. So far, almost £1m has already been invested.

Mark simmers, CEO of Celtic Renewables, said: “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.”

Celtic Renewables predicts the site will create 25 jobs in the area, with building expected to start in early 2018.

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