By Scott Longley, Professional Adviser.
Renovare Fuels is hoping to raise £1.76m from investors to fund its push to provide patent-pending technology to landfill operators that can convert landfill gas into diesel and gasoline. The technology allows for the displacement of large volumes of CO2 and, as a result, will be eligible for Kyoto Protocol Standard Greenhouse Gas Credits.
The company has advanced assurance from HMRC that it is an Enterprise Investment Scheme (EIS) qualifying investment. The technology can convert gas to commercial-grade liquid fuel profitably, without the need for government subsidies. It also meets government criteria for processing new waste and turning it into a valuable commodity via anaerobic digestion.