Stobart wins new biomass contract

Sustainable energy investment firm Greensphere Capital and Stobart Biomass Products have entered into an agreement that will see Stobart's biomass division supply up to 1 million tonnes of biomass to existing and future power plants.

Greensphere will be investing in a national platform of waste biomass power plants, which will be supplied by the framework agreement with Stobart's biomass division. The two companies' partnership spans 18 months and during this time they have identified a number of projects suitable for investment.

As well as generating income from the supply of woody biomass, Stobart will also generate income from transporting the biomass and from supporting each new project through to commissioning.

'While we continue to work with a number of other plant developers, this agreement promises to underpin a sizeable element for our business supply strategy,' Stobart CEO Andrew Tinkler was quoted as saying.