Vireol Ltd. plans to raise about 80 million pounds ($125 million) to invest in building a bioethanol plant in northeast England, gaining a foothold in a market that may be worth as much as 1.5 billion pounds by 2020.
The North Yorkshire-based company seeks to raise the money by the first quarter, looking at strategic and private-equity investors, as well as its current retail-investor base, Chief Executive Officer David Knibbs said in an interview in London.
The U.K. plans to get 10 percent of the energy used in road transportation from renewables such as bioethanol and biodiesel by 2020. Vehicles contribute as much as 21 percent to its total greenhouse gas emissions, according to the government.
“All investors and banks look for a strong lead from government and at the moment our biofuels target only runs to 2020, compared to 2037 for renewables under the Renewable Obligation regime,” said Knibbs. “We need more certainty.”
The greater certainty should be provided by shouting \”No! Fuck Off!\”.
This is for a wheat to ethanol plant, something even more stupid than corn to ethanol. And the business case rests entirely on legislative fiat, that the ethanol must be used.
Yet we now all (some have known for a long time, the Greens have only realised it recently) know that plants to fuel is a crazed lunacy.
So let us provide certainty to these investors.
No. Fuck off.