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BEL, manufacturer of renewable energy plants, secures €6M Investment
16/01/2012
Biomass Engineering Limited (BEL), manufacturer of renewable energy biomass plants, secured a €6m growth equity investment from a US-based investor.
The investment was made by Excelestar Ventures of Massachusetts, confirming Biomass Engineering’s sector leading biomass cogeneration energy and heat plant technology.
“Excelestar believes in BEL’s combined heat and power biomass plant. It is a robust and modular system that is the product of skilful engineering,” said Tasneem Dohadwala, General Partner of Excelestar Ventures.
BEL is an international leader in design, production and installation of biomass gasification CHP systems. As a pioneer in the industry, BEL’s technology is backed by more than 15 years of research and development.
“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.
Biomass Engineering developed a working process which 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 clean form of renewable energy and heat.
Their 90,000 sq ft base in Newton-le-Willows, Merseyside employs 42 people, is a complete design and manufacture facility for the modular gasification systems which provide carbon neutral, renewable energy solutions for a variety of clients.
EXCELESTAR VENTURES
Excelestar Ventures strive to add value to businesses seeking to expand their presence in industry. Excelestar helps its portfolio of companies realise operational efficiencies to produce growth and sustainable profits through a long term perspective. The firm’s management approach is hands-on, continuously working with clients to add real value. As such, Excelestar is selective in its investments in order to yield solid returns for investors. Excelestar invests globally understanding that opportunities for success are not limited by borders, but made through efficient but robust business models. The organisation’s success lies in refining and reinvigorating those sound models.
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