Renewable energy firm Biogen has secured £22m of funding from the Royal Bank of Scotland to “support the continued expansion of the business”.
Biogen designs, builds, owns and operates food waste anaerobic digestion (AD) plants that recycle waste food from homes, food manufacturers, retailers and the hospitality sector to generate renewable energy.
The revolving and term loan facilities with RBS together with the monies invested to date by Kier Group and the Bedfordia Group, will bring the amount put into Biogen’s developing plant network thus far to £70m.
Richard Barker, Biogen – “This is great news for Biogen and great news for AD in the UK. The additional funding provided by RBS allows Biogen to continue its strategy of rolling out additional capacity across the UK”
Biogen’s Chief Executive, Richard Barker said: “This is great news for Biogen and great news for AD in the UK. The additional funding provided by RBS allows Biogen to continue its strategy of rolling out additional capacity across the UK.
“Each new AD plant we build will result in more food waste being diverted from landfill, more renewable energy being generated for communities and more jobs created for local people.
“Not only that, but more businesses and local councils will have better access to sustainable food waste treatment on a national scale.”
Biogen is a British company with offices in Bedfordshire and Shropshire and works with local authorities and commercial customers throughout the UK. Its AD plants recycle waste food from homes, shops, pubs, restaurants, hotels, offices and food manufacturers to generate renewable electricity for the national grid.
What’s left from the AD process is a nutrient rich biofertiliser, which is returned to the land to grow more crops.
The company has laboratories at its sites in Ludlow and Bedford and has invested significantly in research & development and innovations to continually improve AD development.