A waste to fuel start-up is preparing to move to the next level, following substantial investment.
Envirofuel has received a £250,000 loan from Lancashire Rosebud Finance. The funding boost will allow the company to expand its operations.
Envirofuel recycles household waste into fuel to minimise landfill. Aided by the new investment, the company plans to produce ‘high-quality’ solid recovered fuel (SRF) from a newly established 19-acre site at the former colliery in Hapton Valley, Burnley. Envirofuel is expecting significant growth over the next two years, with plans to double its work force and create 30 new jobs in the area.
“We are looking to become the fuel of the future by recycling household waste into Solid Refined Fuel which reduces landfill and creates an alternative fuel for heavy industry which currently rely on coal,” Paul Mellor, Managing Director of Envirofuel, said. “With the help of Rosebud and our own personal investment, we will be able to grow faster as a business. We have opened the site in Burnley which has already created stable jobs with more to come as the business continues to grow.”
Peter Rooney, Investment Manager at Enterprise Ventures who manage the Rosebud fund, said: “We are looking forward to seeing Envirofuel grow its operations in Lancashire and we are pleased that Rosebud is able to continue supporting such a diverse range of businesses, particularly in the area of sustainable environment.
“In East Lancashire alone, approximately 60,000 tonnes per annum of waste is going to landfill every year, so it is vitally important that this amount is reduced.”
The local council are equally enthusiastic about the potential of the new project. Andy Walker, head of business growth at Lancashire County Council, said in a statement: “Envirofuel is a fairly new company, but both Paul and Jim have years of experience which they’re using to develop their innovative product and look for new opportunities.
“They’re already supplying Hanson at Clitheroe, but have set themselves strong ambitions to bring in business from across the world in the coming years. Through Rosebud’s support, we’re proud to be helping them to make this happen.”