Waste Knot Energy project to produce 240,000 tonnes of fuel pellets each year offering alternative to coal in steel and cement manufacturing
An innovative waste-to-energy plant in Middlesbrough geared at transforming non-recyclable waste into green fuel pellets for steel and cement manufacturing has secured a major funding boost this week, after securing support from sustainable investment specialist Gresham House.
Waste Knot Energy's first green fuel pelleting project is designed to process household waste otherwise destined for landfill or export into a high-calorific value fuel, which it claims can be used as an alternative to coal and pet coke for energy intensive industrial manufacturing.
Construction of the plant is currently underway on Teesside, and once completed it is expected to create over 20 full time jobs in the region, producing more than 240,000 tonnes of alternative fuel pellets each year, the developer said.
The facility is situated close the port on a brownfield site owned by freight logistics firm AV Dawson, and the resulting fuel pellets will either be transported by rail or exported via ship, the firm explained.
Roger Ferguson, founder of Waste Knot Energy, said the project would help to reduce greenhouse gas emissions by reducing the need for coal burning, while also making use of waste and helping to boost the circular economy.
"The circular economy demands that we re-use materials wherever possible and landfill should always be avoided," he said. "Green Knot pellets are the future of fuel, to sit alongside other sustainable power generation."
The funding injection from Gresham House - which declined to disclose the figure - was made through its British Strategic Investment Fund (BSIF), which specialises in investments in small to medium UK housing and infrastructure projects.
Ed Simpson, BSIF fund manager and investment director of new energy at Gresham House, said the investment in the Waste Knot Energy project was "exactly the type of strategically important sustainable project BSIF is looking to facilitate", and that it would also generate attractive investment returns.
"The benefits to the UK from the Waste Knot Energy project are myriad - from providing a waste disposal alternative to reducing carbon emission from the industrial sector and stimulating regional economic activity," he said.
Tees Valley Mayor Ben Houchen also hailed the project's green credentials. "This amazing news further supports our ambitions to drive forward the clean energy agenda - further cementing our region's reputation as an innovator and world leader in decarbonisation."
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