ESB buys stake in UK company
THE ESB has bought a stake in struggling UK company that makes small power plants which burn waste wood to generate electricity.
The state-owned power utility said its investment arm spent £4.5m (€5.3m) buying its stake in Yorkshire-based Bioflame which has already secured planning permission for 17 small biomass incinerator plants and can process up to 30,000 tonnes of waste a year and generate enough power for 6,000 homes. The plants are usually located next to dumps and burn wood that would otherwise end up in a landfill.
Bioflame plans to start building five or six plants a year and double its 32-strong workforce over the next 12 months. Four of the planned sites are in Yorkshire, including one in Leeds and another near York.
Bioflame's 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.
More than six million tonnes of waste wood are landfilled each year in the UK and Ireland.