Small scale biomass plant developer Bioflame has received an investment of up to £4.5m from cleantech energy fund ESB Novusmodus.
The investment will be used to help Bioflame attract project funding, and accelerate the rollout of its advanced combustion technology which turns waste wood into heat and electrical energy.
Bioflame has entered into partnership with 17 MRFs around the country, in order to supply the small generators near to recycling facilities. Currently two Bioflame generators have been built, two more are under construction and full planning consent has been granted for the other seventeen.
Bioflame spokesman Victor Buchanan said: “We are delighted that ESB Novusmodus is investing in Bioflame. The combination of the project finance expertise of Novusmodus and the engineering experience of ESB makes ESB Novusmodus a unique partner.
“We have created a business model that is both profitable and environmentally positive, and are committed to making Bioflame the market leader over the coming years.”