Cogeneration plant secures €6M investment

Biomass Engineering Limited (BEL), a manufacturer of renewable energy biomass plants, has secured a €6m ($9.2m) growth equity investment from a US-based investor.

The investment in BEL, an international leader in design, production and installation of biomass gasification CHP systems, was made by Excelestar Ventures of Massachusetts.

“We are excited about the potential benefits of our renewal energy solution and this investment from Excelestar will allow us to press ahead with our growth plans.” said Dave Clitheroe, Chief Operations Officer at Biomass Engineering.

Biomass Engineering has developed a working process which utilises energy crops, waste wood, wood chippings and forestry wood as fuel. This fuel is fed into a gasification process producing a clean gas that in turn produces a clean form of renewable energy and heat.

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