Bioethanol project proposed for Grimsby
A $308 million (€212 million) bioethanol project will be constructed in Grimsby, northern England, thanks to a partnership between Future Capital Partners, biofuels company Vireol and the engineering group Simon Carves.
Vireol will operate the ethanol plant once it has been completed, while Future Capital plans to sell or offer shares in its percentage within six years.
A contract worth a minimum of $1.6 billion has been signed, with an unnamed investment bank agreeing to buy all the ethanol produced over the next decade.
An international animal feeds company has also committed to purchasing dried distillers grains; the by product of biofuel manufacture.
Vireol will operate the ethanol plant once it has been completed, while Future Capital plans to sell or offer shares in its percentage within six years.
A contract worth a minimum of $1.6 billion has been signed, with an unnamed investment bank agreeing to buy all the ethanol produced over the next decade.
An international animal feeds company has also committed to purchasing dried distillers grains; the by product of biofuel manufacture.
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