Global Renewables, a Farington, UK-based business which creates fuel from waste, secured a £300k investment from Lancashire’s Rosebud Finance, which is managed by Enterprise Ventures.
The company intends to use the funds to install additional processing features to further improve efficiency and create a further 10 new jobs.
Led by Paul Mellor, managing director, Global Renewables operates the Lancashire Waste Recycling plant (in Fleetwood) takes waste destined for landfill and turns it into fuel which can be used by manufacturing plants and power stations.
The £6m plant was opened in 2013 by engineer Jim Entwisle and Mellor and has already created 15 jobs.
Currently, most of the fuel produced goes to Hanson Cement in Clitheroe. However, the two owners plan to open up a further four plants at locations around the UK and expand their customer base to sell to other industrial users and to energy-from-waste plants.
FinSMEs
03/06/2014