UK ethanol project seeks cash injection

UK-based biofuels producer Vireol is still hoping to secure more funding for its proposed ethanol plant in Grimsby.

It wants to raise £80 million (€95.4 million) to go towards constructing the 200 million litres per year facility which is reported to be using wheat as feedstock.

Vireol aims to commence building next year with operations slated to begin in 2016. CEO David Knibbs was quoted as saying the company will be looking at private-equity and strategic investors, among other avenues.