Los Angeles-based clean energy firm Arensis has today announced £13 million in debt funding from Hadrian’s Wall Secured Investments Limited (HWSIL).
Arensis, who own and operate a biofuel facility in Grangemouth in Scotland and Andover in England, confirmed that the funding was secured for renewable energy facilities in the UK, “expanding the company’s growth and global operations”.
With the firm purchasing both UK sites over the last 12 months and integrating a fuel supply in the UK for heating that replaces natural gas with renewable resources, funding was acquired for loan refinancing and to complete the integration of 52 other UK units into pellet production facilities.
Tony Morberg, Arensis Corporate Investment Director, said: “The projects will produce 85 gigawatts (GW) of thermal energy per year, helping the UK prevent at least 20,000 metric tons of greenhouse gas emissions annually.
“Not only is this a benefit for the local environment but the integration of our technology is forecast to reduce production costs by over 20%.”
Arensis CEO, Julien Uhlig, added: “We extend our sincere appreciation to Hadrian’s Wall Capital, our advisers Bridge & York Capital Partners, and our partners A.W. Jenkinson Forest Products and Verdo Renewables for helping us complete our vision of vertically integrating UK pellet plant production utilizing biomass resources that are both local and sustainable.
“The culmination of putting together the right partners, the right team and the right technology has set us up on a production path for success in the UK and continued growth globally.”
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