Celtic Renewables crowdfunds to back green tech
Martin Tangney: promoting environmental change
Cleantech innovation company Celtic Renewables has launched a crowdfund campaign on the back of investor appetite to fund companies with environmental, social and governance (ESG) factors.
Its technology converts unwanted and low-value biological material into high-value renewable chemicals, sustainable biofuel, and other commercially and environmentally valuable commodities.
The commissioning of its biorefinery at Caledon Green in Grangemouth – the first of its kind in the UK – is on track for Spring 2021 and on the back of £30 million funding already raised, the business is poised to play a pivotal role in the UK’s transition to a net-zero economy.
The latest round aims to attract £25 million, one of the largest achieved for a Scottish SME of this size and allowing investors to own shares in the company.
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-led innovation in achieving environmental change.”