£5m fund to support biomass

A Yorkshire renewable energy company has secured a £5m funding pot to help businesses switch to biomass.

The free business biomass scheme will be operated by Harrogate-based firm Think Renewable Energy, which has completed some of the region’s biggest clean energy projects including 700kW of renewable energy technologies at Fridlington Farms in York and the recent installation for John Lewis’s new Monks Cross store.

Under the scheme, which is supported by debt finance, businesses will be able to apply for a fully funded biomass system to enable them to manage their energy costs and reduce CO2 emissions.

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Anthony Barrett, CEO of Think Renewable Energy, said the free business biomass scheme has the potential to fund 7MW of biomass installations and reduce the region’s CO2 emissions by 65,000 tonnes over the term of the scheme.

He said: “Many SMEs are under increased pressure from their supply chain to establish and report carbon reduction targets. Biomass provides an excellent opportunity to achieve C02 savings without any capital cost.

“In addition to the C02 savings, there are considerable financial benefits of switching from traditional heating sources such as oil, LPG, electricity.

“Our customers are achieving up to 50 per cent fuel savings from the switch to biomass which makes the scheme very attractive for any commercial organisation.

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“The biomass fund will enable businesses that are concerned about carbon management and the rising cost of energy to introduce biomass now rather than having it as a long term objective.

“Those companies that have already earmarked capital for biomass can now apply for free biomass and use the money for investment in other areas of their business.”

The new scheme will cover the entire cost of each biomass system and includes a free feasibility study to determine the most effective solution for the business, its buildings and operational needs.