Carbogenics has raised more than £1m to help build its first research, development and production facility in Scotland.
The company turns difficult-to-recycle food, farm and paper waste - which would otherwise go to landfills or be sent for incineration - into a product called CreChar. This is a carbon-rich, porous material that should help stabilise the performance of anaerobic digestion plants.
The investment has come from new lead investor Green Angel Ventures, along with existing investors Scottish Enterprise and Old College Capital.
Based on successful lab and industrial trials, Carbogenics’ growth plan includes building its first production facility in Perthshire, enabling the launch of CreChar into the UK anaerobic digestion market.
It is anticipated that the facility will be operational by the end of the first quarter next year.
The Edinburgh University spin-out is also creating new roles across production, operations and business development, doubling its size.
As part of this expansion, Carbogenics is in the process of raising further debt and investment finance in the coming months. This investment round is remaining open until November.
Chief executive Ed Craig commented: “This investment will allow us to scale the business significantly, including building our first production facility, solidifying our customer base in the UK, and facilitating our European expansion plans. .
“Carbogenics continues to innovate and as energy security joins sustainability as a key priority for the energy transition we believe the UK will grow its use of biogas from the current circa 1% and mirror its trading partners in Europe.”
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