News Articles‎ > ‎

Cumbernauld Energen Biogas firm get £7m finance boost

Written by Scott Campbell.
 
 
 
 
 
Published at 15:19 GMT on Thursday, May 16th, 2013.

Top Links:   About Cumbernauld    About Us    Advertise    Directory    History    Local Information    Our sister sites    Newswire    

Like it? Share it!


CUMBERNAULD-based Energen Biogas has welcomed a £7.25 million funding boost, from high street banking giant Barclays.

Energen Biogas, based at Wardpark Industrial Estate, is a joint venture between Shanks Waste Management and Dundee-based Paragon Efficiencies.

Last week, the business announced that it had scooped over £7m in a cash grab from the Bank of England’s Funding for Lending Scheme through Barclays’ “Cashback for Business” programme.


Donate to Cumbernauld Media and keep Cumbernauld's local website alive and online. Thank you.  

Robert Etherson, managing director of Energen Biogas, said: “The agreement with Barclays is very welcome as it will allow the business to continue to expand.

“While we operate in a very competitive market place, the customised services we offer are allowing us to significantly grow a diverse customer base.”

Following a year of testing, the firm’s Cumbernauld site is now fully operational and has the capacity to process 60,000 tonnes of waste each year; using bacteria to break down rubbish and produce gas under a process known as anaerobic digestion.

Andrew Meadowcroft, a relationship director at Barclays, said: “Renewables is a key growth area for us, and Energen Biogas exemplifies the types of business we are looking to support. Shanks Group is a long-standing client of Barclays and we have worked with the joint venture on this project from the very early stages.”


Donate to Cumbernauld Media and keep Cumbernauld's local website alive and online. Thank you.  
Search for more news

    
Like us on Facebook

 
Cumbernauld's top spots