Waste Knot Energy has secured funding to build its first alternative fuel pelleting plant in Teesside, UK.
The funding from Gresham House’s British Strategic Investment Fund (BSIF) will enable the firm to produce an alternative fuel to replace coal and pet-coke, reducing emissions.
The facility will produce Waste Knot’s branded pellets – Green Knot pellets - using non-recyclable waste that would otherwise be sent to landfill. The high calorific value of the pellets makes them a reliable, low-emission bulk alternative to coal and pet-coke for energy-intensive industries such as cement and steel.
Once completed, the new plant in Middlesbrough, Teesside, will create more than 20 full-time jobs in the region. It is estimated the plant will manufacture over 240,000 tonnes of fuel pellets annually, which will be transported within the UK by rail or exported by ship.
The plant is being developed on a brownfield site owned by AV Dawson, a local freight logistics specialist with a 40-hectare port facility in Middlesbrough.
Roger Ferguson, founder of Waste Knot, said: “The circular economy demands that we re-use materials wherever possible and landfill should always be avoided. Green Knot pellets are the future of fuel, to sit alongside other sustainable power generation.”
“The benefits to the UK from the Waste Knot Energy project are myriad,” said Ed Simpson, BSIF fund manager and investment director of New Energy at Gresham House, “from providing a waste disposal alternative to reducing carbon emissions from the industrial sector and stimulating regional economic activity.
“Having just completed its final funding round, this is exactly the type of strategically important sustainable project BSIF is looking to facilitate while generating attractive returns for investors.”
Tees Valley Mayor Ben Houchen said it is “fantastic” to see Teesside hosting the first plant for the project. “Whether it is Net Zero Teesside, e-scooters or pioneering the use of hydrogen across Teesside, Darlington, and Hartlepool, we are developing the technologies of the future and creating sustainable good quality, well-paid local jobs for local workers,” he said.
“This amazing news further supports our ambitions to drive forward the clean energy agenda, further cementing our region’s reputation as an innovator and a world leader in decarbonisation.”