Liverpool bioenergy firm sold in deal worth £2m

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Liverpool-based Billington Bioenergy has been offloaded by its parent company Drax Group in a £2m deal.

The company, a distributor of wood pellets in the UK heating market, has been sold to AIM-listed London company Aggregate Micro Power Holdings.

AMPH specialises in the sale of wood fuels and the development of distributed energy assets, including biomass boilers and battery storage.

Yorkshire-based Drax moved Billington on for £1.6m of shares in AMPH and £0.4m in cash.

Through its shareholding in AMPH, Drax will retain an interest in the UK heating market, whilst gaining exposure to the development of small-scale distributed energy assets.

Drax chief executive Dorothy Thompson said: “We are pleased with the sale of BBE and our investment in AMPH. With their leadership in the UK wood pellet heating market, we believe they are the right partner to take forward and grow BBE, whilst supporting the UK’s transition to a low carbon economy.

“We look forward to working with AMPH.”