Foresight invests in Silvigen
by Real Deals & Real Business - Thursday, 3rd July 2008 -
Silvigen, a supplier of biomass fuels for use in the power industry, will use £1.75m from Foresight to finance the development of a processing plant in Goole, North Humberside.
The investment will also provide working capital to support the company’s future growth plans.
Silvigen was established in 2005 as a provider of consultancy services to the power industry on fuel processing and biomass supply.
In 2006, the company completed trials to perfect the processing of wood into a suitable fuel for co-firing in coal-fired power stations.
Silvigen has secured long-term contracts with a major UK power generator to supply a variety of biomass fuels in order to reduce carbon emissions.
One of the business's contracts is for the establishment of a Short Roation Forestry programme that produces biomass fuel from fast growing tree species. This provides high timber yields from low grade land, unsuitable for food crops.
Silvigen is recruiting landowners to establish new energy forest plantations that can produce financially attractive returns in as little as four years.
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