Cleantech innovators Celtic Renewables has launched its Crowdcube funding campaign as investor appetite to fund companies with environmental, social and governance factors grows.
With commissioning of its refinery in Scotland on track for spring 2021 and on the back of £30 million (€33 million) funding already raised, the business, awarded the most innovative biotech SME in Europe, is poised to play a pivotal role in the UK’s transition to a net-zero economy.
Celtic Renewables has already attracted £25 million (€27 million) in its latest round of funding - one of the largest achieved for a Scottish SME of its size.
Now with the launch of the Crowdcube funding campaign, members of the public will be able to own shares in Celtic Renewables.
Company founder Professor Martin Tangney said: “The whole ethos behind Celtic Renewables has been supporting a circular economy.
“There is no doubting the awareness around sustainability. However, by enabling the public to become shareholders in the company, we hope to promote a deeper understanding of the importance of industry lead innovation in achieving environmental change.”
Celtic Renewables’ patented low-carbon technology converts unwanted and low-value biological material into high-value renewable chemicals, sustainable biofuel and other commercially and environmentally valuable commodities that impact daily lives.
The new plant is expected to process around 50,000 tonnes of residues each year from the whisky industry, adding value and sustainability to one of the country’s most important sectors.
The Celtic Renewables’ products will displace fossil-fuel equivalents across a broad range of markets such as cosmetics and personal care; paints and costings; the food industry; cleaning; and advanced biofuel.
Mark Simmers, Chief Executive Officer of Celtic Renewables, added: “Funding raised through the Crowdcube campaign will allow us to fast track our global expansion programme and generate sustainable business growth to help support the post-COVID recovery.”
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