Celtic Renewables, a spinout of Edinburgh Napier University, has won an £11m ($16.92m) award from the UK government which it plans to use to build the world’s first plant capable of turning residue from whisky production into biofuel.
The spinout is one of three companies sharing from a £25m pot set aside by the UK Department of Transport for the competition. Celtic hopes that it can construct a plant capable of producing one million litres of biofuel for cars by 2019.
Martin Tangney, Celtic’s founder, said: “We are committed to developing a new industry in the UK that will be worth more than £100 million a year. This funding announced today will allow us to scale-up to industrial production.”
