Sustainable Scotland: Scots cleantech’s global goal

A Scottish-based cleantech innovator is to accelerate its global growth plans after securing a major new deal with a leading provider to the life sciences industry.

Celtic Renewables sign deal with Caldic at the Grangemouth Bio Refinery.

Celtic Renewables says it will scale-up its sustainable operations worldwide after striking a re-seller arrangement with the internationally renowned firm Caldic which operates from 19 countries across Europe, North America and Asia Pacific.

It is also to launch a new crowdfunding campaign after previously securing £3.68 million from 2,500 investors in its previous round in 2019, the second-largest equity raise ever by a Scottish company.

The new partnership – the first significant deal of its type for the Grangemouth firm – has secured a fast go-to-market strategy for Caldic’s bio-solvents range, supporting its customers in advancing their sustainability journey.

It was announced by Mark Simmers, chief executive of Celtic Renewables, during Scotland’s Green Innovation and Investment Showcase, attended by Scotland’s First Minister Nicola Sturgeon.

Celtic Renewables’ patented low-carbon technology converts unwanted and low-value biological material into high-value renewable chemicals, sustainable biofuel, and other commercially and environmentally valuable products.

Caldic, a leading solutions provider for the life science and speciality chemical industries will distribute the bio-solvents produced by Celtic Renewables.

The high-purity, bio-solution, with an extremely low-carbon footprint, will provide their customers with a sustainable bio-based alternative to fossil fuel produced solvents.

Roger Collis, business development director at Caldic, says: “Caldic is delighted to have agreed a partnership with Celtic Renewables for the distribution of their bio-solvents throughout Europe.

“The addition of these high-quality products is in line with our strategic plan to grow our portfolio with products with a lower-carbon footprint.

“We are excited to be bringing to the market these unique bio-solvents which offer an environmentally friendlier solution that will be of interest to manufacturers of personal care and homecare products, as well as those involved in the production of biofuels.”

The significant deal coincides with COP26 just as the UK prepares to transition to a net-zero economy.

Simmers says: “This strategic partnership with Caldic not only secures the viability of our Grangemouth plant, but also allows us to fast track our global expansion programme.

“In fact, today we also launch an additional round of crowdfunding to support our plans to build larger scale facilities around the world, which will enable us to bring more of our sustainable solutions to a greater number of people who are interested in doing the right thing for the planet.”

Celtic Renewables, awarded the most innovative biotech SME in Europe, is recognised as a best-in-class sustainable solution provider with innovation it says can steer the world away from dependence on petrochemicals.

The new crowdfunder is expected to back that confidence.

Simmers adds: “Despite the rhetoric, institutional investment in sustainability remains hesitant. However, the one arena where we see investment is in crowdfunding which is why we are launching our second crowdfund to enable us to drive the change the world needs.

“For those of us who care about sustainability, crowdfunding in cleantech organisations isanother, and important way in which we can help redefine our planet’s future.”

Celtic Renewables successfully raised £3.68m via Crowd Cube in 2020. The business launches its new crowd funding campaign today, with the aim of raising new funds to build further bio-refineries, in key locations globally.

Regarded as one of the most innovative new sustainable cleantech companies in the UK, Celtic Renewables it has also completed construction of its first production plant – and Scotland’s first bio-refinery – at Caledon Green in Grangemouth, Scotland.