Scottish technology-led producer of inexperienced chemical substances (together with biofuels), Celtic Renewables, has launched its newest crowdfunding marketing campaign with Crowdcube aiming to boost a minimal of £2.75 million to spice up operational capability and scale income progress.
Celtic Renewables is the primary on the planet to supply and provide inexperienced chemical substances to decrease the carbon footprint of hundreds of merchandise like cosmetics, paints and family cleaners, and has just lately despatched its first manufacturing of bioacetone and biobutanol to distribution accomplice, Caldic, an organization that creates bespoke options for the meals, pharma, private care and industrial markets.
Funds raised from the Crowdcube marketing campaign will likely be used to extend the worldwide distribution of inexperienced chemical substances, broadening the attain of merchandise throughout a number of sectors the place alternative of incumbent fossil gasoline derived chemical substances is most wanted.
Celtic Renewables has plans to construct an extra 4 biorefineries within the subsequent 4 to 5 years with a mixed product output of round 32,000 tonnes per yr.
Celtic Renewables makes its inexperienced chemical substances at its flagship biorefinery in Grangemouth, Scotland. Their patented expertise converts low-value by-products, residues and waste from a variety of industries, resembling meals and drinks manufacturing, into high-value inexperienced chemical substances.
These inexperienced chemical substances, specifically bioacetone, biobutanol and bioethanol, are chemically equivalent to and may immediately exchange their fuel and oil-derived equivalents (acetone, butanol and ethanol).
Mark Simmers, CEO of Celtic Renewables, says: “The final word purpose of this crowdfunding marketing campaign is to permit us to scale what we’re doing which can enable us to produce inexperienced chemical substances to a protracted record of potential prospects who’re prepared and ready.
“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.”
The manufacturing of acetone, butanol and ethanol contributes considerably to CO2 emissions within the chemical sector, accounting for 18% of whole industrial CO2 emissions globally. Celtic Renewables’ manufacturing of bioacetone, biobutanol and bioethanol generates as much as 70% much less carbon emissions in comparison with petrochemical alternate options.
Simmers provides: “We are working closely with our strategic partner Caldic to develop a list of initial customers for our green chemicals. The challenge is that the demand is huge and our Grangemouth plant will only supply a small fraction of what we really need to produce, so the pressure is on to grow the business and build bigger production plants.”
World markets for acetone and butanol are estimated at $6.63 billion and $16.5 billion respectively and rising, in accordance with Future Market Insights. Celtic Renewables’ inexperienced chemical substances have intensive purposes spanning a number of industries and may fully displace petrochemical equivalents with an instantly addressable market of over $2 billion.
Bettina Brierley, Product Group Chief Caldic UK, says: “We have now been ready for an answer like Celtic Renewables for a very long time. We don’t want to vary client habits, however as an alternative we will enhance the merchandise we make by guaranteeing they don’t seem to be 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.”
Simmers provides: “The other great news is that the raw material that we use to make our biochemicals – the residues, by-products or waste – is almost unlimited. The key is to build the next few plants and demonstrate their performance. Our model is scalable globally across industry sectors. We will continue to look at commercial opportunities and there are some really interesting chemical groups that in the future, also could be made biologically.”
Celtic Renewables says its mission is to foster a extra sustainable chemical business and has thus far raised in extra of £55 million funding from a number of sources which was used to construct the biorefinery in Grangemouth. With massive business contracts in place, Celtic Renewables is now elevating funding to scale up manufacturing to satisfy demand.
