Biomass Engineering (BEL), a manufacturer of renewable energy biomass plants, has secured a €6m (£5m) growth equity investment from a US-based investor.
The investment was made by Excelestar Ventures of Massachusetts.
‘Excelestar believes in BEL’s combined heat and power biomass plant. It is a robust and modular system that is the product of skillful engineering,’ said Tasneem Dohadwala, general partner of Excelestar Ventures.
Newton-le-Willows-based BEL designs, produces and installs biomass gasification CHP systems.
‘We are excited about the potential benefits of our renewal energy solution and this investment from Excelestar will allow us to press ahead with our growth plans,’ said Dave Clitheroe, chief operations officer at Biomass Engineering.
According to a statement, Biomass Engineering developed a working process that utilises energy crops, waste wood, wood chippings and forestry wood as fuel. This fuel is fed into a gasification process, producing a clean gas that in turn produces a form of renewable energy and heat.