Scotland's first green chemicals manufacturer is launching a crowdfunding campaign

Scottish tech-led green chemicals manufacturer Celtic Renewables has launched its latest crowdfunding campaign with Crowdcube, aiming to raise at least £2.75 million to increase operational capacity and increase sales growth.

Celtic Renewables is the first in the world to produce and supply green chemicals to reduce the carbon footprint of thousands of products such as cosmetics, paints and household cleaners, and has recently sent its first production of bioacetone and biobutanol to distribution partner Caldic, a bespoke company creates tailor-made solutions for the food, pharmaceutical, personal care and industrial markets.

Funds raised from the Crowdcube campaign will be used to increase the global distribution of green chemicals, expanding the reach of products across multiple sectors where replacement for existing fossil fuel-derived chemicals is most needed.

Celtic Renewables has plans to build a further four biorefineries over the next four to five years with a combined product production of approximately 32,000 tonnes per year.

Celtic Renewables makes its green chemicals at its flagship biorefinery in Grangemouth, Scotland. Their patented technology converts low-value by-products, residues and waste from a range of industries, such as food and beverage manufacturing, into high-quality green chemicals.

These green chemicals, namely bioacetone, biobutanol and bioethanol, are chemically identical to their gas and oil-derived equivalents (acetone, butanol and ethanol) and can directly replace them.

Mark Simmers, CEO of Celtic Renewables, said: “The ultimate aim of this crowdfunding campaign is to enable us to scale up our operations, providing green chemicals to a long list of potential customers already lined up.

“The timing is right and many companies and industries are keen to make the change to reduce their dependence on fossil fuels. Our technology provides a commercially proven and green alternative to the production of key chemicals and will reduce the carbon footprint of everyday products such as skin creams, nail polish, household cleaners, paints, medicines and vitamins. We have the momentum and potential to accelerate the defossilization of the chemical industry and make everyday life more sustainable for consumers.”

The production of acetone, butanol and ethanol contributes significantly to CO2 emissions in the chemical sector, accounting for 18% of total industrial CO2 emissions worldwide. Celtic Renewables' bioacetone, biobutanol and bioethanol production generates up to 70% less CO2 emissions compared to petrochemical alternatives.

Simmers adds: “We are working closely with our strategic partner Caldic to develop an initial customer list for our green chemicals. The challenge is that demand is huge and our Grangemouth factory will only supply a small proportion of what we really need to produce, so the pressure is on to grow the business and build larger production plants.”

According to Future Market Insights, the global markets for acetone and butanol are estimated at $6.63 billion and $16.5 billion, respectively. Celtic Renewables' green chemicals have extensive applications across multiple industries and could completely displace petrochemical equivalents with an immediately addressable market of over $2 billion.

Bettina Brierley, Product Group Leader Caldic UK, says: “We have been waiting for a solution like Celtic Renewables for a long time. We don't need to change consumer habits, but instead we can improve the products we make by ensuring they do not come from fossil fuels.

“This is the first real innovation I've seen in the chemical space that is truly green, and not just greenwashed. The great thing about the product is that the chemicals are made from residual materials and not from food-competing crops. Our customers, including manufacturers of personal care and home care products, are very excited about this.”

Simmers adds: “The other good news is that the raw material we use to make our biochemicals – the residues, by-products or waste – is virtually unlimited. The key is to build the next few factories and demonstrate their performance. Our model is globally scalable across all industrial sectors. We will continue to look at commercial opportunities and there are some really interesting chemical groups that can also be made biologically in the future.”

Celtic Renewables' mission is to promote a more sustainable chemical industry and has to date raised over £55 million in funding from multiple sources, which has been used to build the Grangemouth biorefinery. With major commercial contracts in place, Celtic Renewables is now increasing investment to scale up production to meet demand.

Related Posts

  • Business
  • May 22, 2024
  • 2 views
  • 4 minutes Read
How will the violent unrest in New Caledonia affect global nickel prices?

Jakarta, Indonesia — Global nickel prices have soared since deadly violence broke out in the French Pacific region of New Caledonia last week. The overseas territory, which has been under…

  • Business
  • May 22, 2024
  • 3 views
  • 5 minutes Read
Elections in South Africa: How Mandela's once revered ANC lost its way

Cape Town, South Africa — For years, the African National Congress stood above politics in South Africa. It was a movement dedicated to liberating black people from the oppression of…

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

How will the violent unrest in New Caledonia affect global nickel prices?

  • May 22, 2024
How will the violent unrest in New Caledonia affect global nickel prices?

Michael Cohen has sworn he has nothing disparaging about Trump, another lie where all testimony ends

  • May 22, 2024
Michael Cohen has sworn he has nothing disparaging about Trump, another lie where all testimony ends

Megyn Kelly Educates Bill Maher on Hillary Clinton's Election Denial (VIDEO) | The Gateway expert

  • May 22, 2024
Megyn Kelly Educates Bill Maher on Hillary Clinton's Election Denial (VIDEO) |  The Gateway expert

SteelSeries releases limited Destiny 2: The Final Shape gear

  • May 22, 2024
SteelSeries releases limited Destiny 2: The Final Shape gear

Elections in South Africa: How Mandela's once revered ANC lost its way

  • May 22, 2024
Elections in South Africa: How Mandela's once revered ANC lost its way

Air Force veteran Monique DeSpain is running against Rep. Val Hoyle for the Oregon House seat

  • May 22, 2024
Air Force veteran Monique DeSpain is running against Rep. Val Hoyle for the Oregon House seat

Russian attacks on Ukraine's power grid hit Kiev with power outages ahead of peak demand

  • May 22, 2024
Russian attacks on Ukraine's power grid hit Kiev with power outages ahead of peak demand

Kellyanne Conway Explains How Joe Biden Lost Independent Voters (VIDEO) | The Gateway expert

  • May 22, 2024
Kellyanne Conway Explains How Joe Biden Lost Independent Voters (VIDEO) |  The Gateway expert

Paytm is calculating the cost of curbing regulations as losses mount

  • May 22, 2024
Paytm is calculating the cost of curbing regulations as losses mount

Longtime lawmaker Mike Simpson wins the Republican Party primary for Idaho's second congressional district

  • May 22, 2024
Longtime lawmaker Mike Simpson wins the Republican Party primary for Idaho's second congressional district

Hawaii court orders drug companies to pay $916 million in Plavix blood thinner lawsuit

  • May 22, 2024
Hawaii court orders drug companies to pay $916 million in Plavix blood thinner lawsuit