21 September 2006
The Northern Echo Business
Renewable energy company Helius Energy is planning expansion and a stock market float by the end of the year as it signed a deal to develop combined heat and power plants across the UK.
The Middlesbrough company, which employs about 40 people, and was set up by some of the founders of green fuels company D1 Oils, yesterday signed a deal with Finnish company Wartsila Biopower to develop up to 13 biomass plants.
Wartsila is a leader of biomass power generation units. The group is already planning a £100m green power station in Humberside to burn biomass, which is plant material or animal waste that gives off less emissions than burning coal or gas, to produce electricity.
John Seed, Helius' chief executive officer, said: "Our agreement will enable us to offer market leading and proven technology to convert biomass into green electricity.
"Biomass generation facilities will provide many companies with sustainable waste management solutions, whilst at the same time reducing their carbon footprint."
Helius will handle the financing, marketing and regulatory requirements for the power stations, whereas Wartsila will focus on the technology.
The companies plan to locate larger power stations close to ethanol and biodiesel producers as they can use the by-products from those processes as feedstock.
Helius is also understood to be looking at a flotation on the stock market before the end of the year to help fund the new generation of power plants.
Mr Seed said the company was based in Middlesbrough because Teesside was becoming a bioenergy centre.
Sembcorp Utilities is building a wood-burning power plant at the Wilton site and companies, including D1 Oils and the Biofuels Corporation, are producing biodiesel there.
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