Newbridge Energy is installing three biomass units in North Wales and doubling the size of its workforce, following a “multi-million pound” investment by fund manager Iona Capital.
The three new wood-chip biomass CHP units at Ruthin will generate a combined output of 3MWe of renewable electricity and 12MWh of reusable heat.
They are set to enter operation before the end of the year and so qualify for Renewables Obligation Certificates and the Renewable Heat Incentive, Iona Capital said.
Newbridge will also increase its workforce to 48 people over the next six months.
Newbridge Energy director Phil Wildbur said: “Iona Capital’s investment provides us with the catalyst and the confidence to invest and grow our business.
“Newbridge Energy is now well positioned to expand its biomass operations throughout North Wales and become one of the leading biomass and wood chip producers in the area.”
Newbridge’s main operating subsidiary, Blazer Fuels, which is based at Ruthin, processes approximately 20,000 tonnes of virgin wood offcuts each year into premium wood fuel pellets and other products.
The plant is located adjacent to a fence post manufacturing plant that supplies the majority of its wood offcuts under a long-term supply agreement.
Image: sxc
