9.2 C
Lancashire
Sunday, June 16, 2024

Waste recycling business set for expansion with Rosebud investment

A start-up business that recycles household waste and turns it into fuel to minimise landfill is expanding its operations following a funding boost.

Envirofuel (SRF) Limited has received a £250,000 loan from Lancashire Rosebud Finance. The fund is managed by Enterprise Ventures, part of Mercia Technologies PLC, on behalf of Lancashire County Developments Limited (LCDL).

The company plans to produce high-quality Solid Recovered Fuel (SRF) from a newly established 19-acre site at the former colliery in Hapton Valley, near Burnley.

Envirofuel is eyeing significant growth over the next two years, expecting to double its workforce by creating over 30 new jobs in the area.

The business was founded by managing director Paul Mellor and operations director Jim Entwisle, who have long-term plans to further develop the site and expand the team.

Paul Mellor, Managing Director of Envirofuel, said:

“We are looking to become the fuel of the future by recycling household waste into Solid Refined Fuel which reduces landfill and creates an alternative fuel for heavy industry which currently rely on coal. With the help of Rosebud and our own personal investment, we will be able to grow faster as a business. We have opened the site in Burnley which has already created stable jobs with more to come as the business continues to grow.” 

Peter Rooney, Investment Manager at Enterprise Ventures, said:

“We are looking forward to seeing Envirofuel grow its operations in Lancashire and we are pleased that Rosebud is able to continue supporting such a diverse range of businesses, particularly in the area of sustainable environment. 

“In East Lancashire alone, approximately 60,000 tonnes per annum of waste is going to landfill every year, so it is vitally important that this amount is reduced.” 

Andy Walker, head of business growth at Lancashire County Council, said:

“Envirofuel is a fairly new company, but both Paul and Jim have years of experience which they’re using to develop their innovative product and look for new opportunities.

“They’re already supplying Hanson at Clitheroe, but have set themselves strong ambitions to bring in business from across the world in the coming years. Through Rosebud’s support, we’re proud to be helping them to make this happen.”

spot_imgspot_img

Latest

Bespoke named Best Place to Work by The Sunday Times

Chorley-based digital marketing agency Bespoke has been named by the...

Sky Bet Bonus Code 50/1 England to Wear White – Get £50 Free Bets

New customers at Sky Bet this June, ahead of...

US Open: McIlroy and Cantlay share lead after round one

Rory McIlroy and Patrick Cantlay hold a share of...
spot_img

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

College sustainability expert helps homeless charity save thousands on energy costs 

Nelson and Colne College’s sustainability expert has teamed up...

How to keep your banking details safe online

With online banking at our fingertips, it’s never been...

Work begins on £1.5m annex to Greater Lancashire Hospital

Greater Lancashire Hospital has commenced building work on a...

Best Betting Sites UK for June 2024

It isn't an understatement when we say that the...

More News

How to keep your banking details safe online

With online banking at our fingertips, it’s never been more important to safeguard personal and financial information. With cyber threats becoming more sophisticated and...

Xelix Unveils Helpdesk, a Gen AI Solution for Streamlined Vendor Query Management

Xelix, a leading provider of Accounts Payable and Procure-to-Pay software, proudly announces the launch of its newest solution, Helpdesk. Helpdesk is designed for enterprises dealing...

Fuuse Closes £8.7m Series A Funding Round to Accelerate EV Charging Expansion

Fuuse, the UK’s premier electric vehicle charge point management platform, has secured significant funding to fuel its next stage of growth across the UK...