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.
Celtic Renewables Ltd, the innovative Scottish start-up providing next generation biofuel, is building a commercial demonstrator plant, which will produce over half a million litres of biofuel each year.
The bioeconomy is innovation, the result of the skills and passion of researchers and managers able to create value and new high-qualified jobs. At the end of 2014 Il Bioeconomista launched a new initiative: The 10 Most Innovative Bioeconomy CEOs. We ask a panel of world bioeconomy experts to tell us the Chief Executive Officers that have stood out as the most innovative during the last year.
This is the result in 2015:
Celtic Renewables won Europabio’s Most Innovative Biotech SME Award for Industrial Biotech.
Celtic Renewables, the Edinburgh-based biofuel company, has signed an agreement with Europe’s foremost biotechnology pilot facility to undergo next stage testing of its process to turn whisky by-products into biofuel that can power current vehicles. The partnership, which will allow the company to develop its technology at Bio Base Europe Pilot Plant (BBEPP) in Ghent, has been made possible by second round funding worth €1.5million, including more than €1million from the UK Government, to help meet its ambition of growing a new €125 million-a-year industry in the UK.
A Scottish energy start-up commercialises a process for producing a superior next generation biofuel (and other high value sustainable products) from the by-products of biological industries. The company – Celtic Renewables is its name – is initially focused on the £4 billion Scottish Malt Whisky industry as a ripe resource for developing bio-butanol – a next generation biofuel. Biobutanol has 25% more energy per unit volume than bioethanol; it has a lower vapour pressure and higher flashpoint (making it easier to store and safer to handle); it can be blended without requiring modifications in blending facilities, storage tanks or retail station pumps; in sharp contrast to ethanol, it can run in unmodified engines at any blend with petrol and may also be blended with diesel and biodiesel; it is less corrosive than bioethanol and can be transported using existing infrastructures. Biobutanol was legally recognised as a biofuel by incorporation in the 2009 amendment to the Road Transport Fuel Obligation (the UK implementation of the EU Renewable Energy Directive, which dictates that 5% of the UK’s transport fuel comes from a renewable source by 2013, and 10% by 2020).