Bioflame's novel and patented advanced combustion technology allows for a wide range of biomass waste fuel stocks to be converted into energy. Materials, such as waste wood, that would previously have been sent to landfill can instead be used to generate green electricity and heat. Bioflame's generators are small enough to be sited next to existing fuel sources such as recycling facilities, thereby removing the requirement for expensive, carbon-intensive transportation and handling logistics.
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For waste managers, Bioflame's business model mitigates the cost and environmental damage of landfill, and replaces it with revenue from the generation of renewable electricity and heat. Currently, it is estimated that over 6 million tonnes of waste wood are landfilled each year in the UK and Ireland.
Bioflame is rolling out its technology in partnership with commercial Material Recycling Facilities (MRFs) and has already secured full planning consent for 17 such partnerships. Two of the sites have already been built and two more are in the late stages of construction. ESB Novusmodus' investment will be used to complete the commercialisation of the Company's technology, attract project funding, and accelerate the rollout of projects. Bioflame's ability to process a variety of recovered fuels makes the technology suitable for a wide range recycling facilities across the UK, Ireland, and abroad.
Michael Aherne, of Novusmodus said: "Bioflame is a very exciting company with a first rate management team and a novel but robust technology that generates energy from biomass on a distributed basis. It adds to our investment portfolio which includes companies such as Nualight, InTune Networks and Selc."
(CD/KMcA)
