letsrecycle.com

Celtic Renewables starts funding campaign to raise £2.75m

Celtic Renewables, a company specialising in the production of green chemicals, has initiated a crowdfunding campaign through Crowdcube which aims to raise £2.75 million.

Celtic Renewables has said its production methods yield up to “70% fewer carbon emissions compared to petrochemical alternatives”.

The company has said it will use this money to expand the global distribution of Celtic Renewables’ green chemicals and the expansion aims to cater to sectors where the replacement of conventional fossil fuel-derived chemicals is “most needed”.

These green chemicals: bioacetone, biobutanol and bioethanol, are chemically identical to  their gas and oil-derived equivalents (acetone, butanol and ethanol).

Celtic Renewables has said its production methods yield up to “70% fewer carbon emissions compared to petrochemical alternatives”.

Goal

Mark Simmers, CEO of Celtic Renewables, said: “The ultimate goal of this crowdfunding campaign is to allow us to scale what we are doing which will allow us to supply green chemicals to a long list of potential customers who are ready and waiting.

“The timing is right, and many companies and industries are eager to make the change to reduce their dependence on fossil fuels. Our technology offers a commercially proven and green alternative for the production of key chemicals and will lower the carbon footprint of everyday products like skin creams, nail varnish, household cleaning products, paints, medicines and vitamins. We have the momentum and potential to accelerate the defossilisation of the chemical industry and make everyday life more sustainable for consumers.”

Celtic Renewables has also stated it has plans to establish four additional biorefineries over the next four to five years, with a combined production capacity of approximately 32,000 tonnes per year.

‘Innovation’

Bettina Brierley, product group leader at Caldic UK, said: “We have been waiting for a solution like Celtic Renewables for a long time. We don’t need to change consumer habits, but instead we can improve the products we make by ensuring they are not derived from fossil fuels.

“This is the first real innovation that I have seen in the chemical space that is truly green, not just greenwashed. The beauty of the product is that the chemicals are made from residue materials, not food competing crops. Our customers which include manufacturers of personal care and homecare products, are very excited by this.”

Production

Recently, Celtic Renewables announced it has delivered its inaugural production of bioacetone and biobutanol to Caldic, its distribution partner. Caldic specialises in tailored solutions for industries including food, pharmaceuticals, personal care, and industrial markets.

Share this article with others

Subscribe for free

Subscribe to receive our newsletters and to leave comments.

Back to top

Subscribe to our newsletter

Get the latest waste and recycling news straight to your inbox.

Subscribe