Scottish cleantech innovators Celtic Renewables launched its Crowdcube funding campaign on the back of investor appetite to fund companies with environmental, social and governance (ESG) factors. With commissioning of Celtic Renewables’ biorefinery in Scotland – the first of its kind in the UK – on track for Spring 2021, and on the back of £30 million funding already raised; the business is poised to play a pivotal role in the UK’s transition to net-zero economy.
With an expert team of world leading scientists, engineers and business executives, Celtic Renewables has a strong track record of generating funding with the latest round attracting £25 million, one of the largest achieved for a Scottish SME of this size. Now with the launch of the Crowdcube funding campaign, members of the public will be able to own shares in one of the UK’s leading Cleantech firms, and play their part in supporting the UK’s green recovery.
“The whole ethos behind Celtic Renewables – company founder, professor Martin Tangney said – has been supporting a circular economy. There is no doubting the awareness around sustainability, however by enabling the public to become shareholders in the company, we hope to promote a deeper understanding of the importance of industry lead innovation in achieving environmental change.”
Celtic Renewables’ patented low-carbon technology converts unwanted and low-value biological material into high-value renewable chemicals, sustainable biofuel, and other commercially and environmentally valuable commodities that impact across our daily lives. The new plant is expected to process around 50,000 tonnes of residues each year from the whisky industry, adding value and sustainability to one of the country’s most important sectors. The Celtic Renewables’ products will displace fossil-fuel equivalents across a broad range of markets: such as cosmetics and personal care; paints and costings; the food industry; cleaning; and advanced biofuel, bringing about positive climate impact and sustainability for products we all use on a day-to-day basis.
“Funding raised through the Crowdcube campaign – Mark Simmers, Chief Executive Officer of Celtic Renewables said – will allow us to fast track our global expansion programme and generate sustainable business growth to help support the post-Covid recovery. Our aim is to make a positive contribution to our planet’s future, whilst delivering excellent commercial returns to our shareholders and for the wider economy”.
Celtic Renewables reached their initial minimum target of £1.75m in less than 24 hours and the campaign is now open to the wider Crowdcube community and is accepting investments from the public.