Bank brings biomass to food producers

A collaborative effort between Yorkshire Clydesdale Bank’s Renewable and Agricultural divisions has supported the greening of food production in North Yorkshire.

By facilitating £6m worth of funding to secure the acquisition of Thirsk-based Richard Maxwell Limited by Biomass Group Limited, the bank has accelerated the supply of renewable heating to poultry sheds.

Owning and operating 12MW of biomass boilers, Biomass Group Limited delivers sustainable heat at a level of 24Gwh per annum saving in excess of 6,000 tonnes of carbon dioxide.

For the production of chicken and turkeys, poultry sheds need to count on a reliable heat source.

Biomass boilers are key to greening farming operations, as they offer an opportunity to replace fossil fuel heating systems with a sustainable alternative in the form of either wood chip or pellet.

Trevor Coultan, managing director of Biomass Group, said: “We are keen to lead a transition towards sustainability across the sector, and are very happy with the funding facilitated by Clydesdale Bank introduced to us by Lennox Partners.

“We are a specialist biomass boiler company providing renewable energy to Agri businesses, and we are growing in confidence that our alternative fuels and infrastructure will put the pressure on eradicating dirty energy.

“We are dedicated to green solutions and are thrilled to be working with partners to bring down carbon emissions on the farm.”

Head of renewable energy at Virgin Money – owner of Yorkshire Clydesdale Bank – Keith Wilson, said: “As an entrepreneurial organisation that is committed to Net Zero, we believe we have an important role to play in supporting businesses seeking to transition to more sustainable forms of energy.

“Lending in support of on-site renewable heat generation plays well to our strengths and is rapidly becoming a niche for our team here at Virgin Money, with this transaction being our third, in as many years.”

Brian Richardson, head of agriculture at Virgin Money, said: “This is a great example of how the bank has been able to bring together its specialist knowledge from two distinct divisions to drive the sustainability agenda forward.

“Being able to bring our in-depth knowledge of the poultry sector and of future markets meant we were able to advise on the sustainability of this long-term project.

“This acquisition will make a real difference on the ground by providing renewable heat generation to large-scale poultry producers, who are aware of the impact of fossil fuels to their climate emissions.

“This is great for the sector, indicating the direction of travel and what needs to be done to prepare for the future.”