UK biomass project reaches financial close

Arensis has announced the financial close of £13,500,000 in debt funding (US$17,000,000) from Hadrian’s Wall Secured Investments Limited, a London Stock Exchange-listed fund. The funding was secured for the Verdo pellet plant in Grangemouth.

The project involves the installation of biomass generators at two existing pellet plants, which Arensis acquired from Verdo. The facility creates more than 60,000 tonnes of wood pellets sourced from local timber per year. Arensis will install 30 biomass generators at the pellet plant site itself, to power manufacturing operations.