At Bure Valley Group, it is an immense privilege to be able to work alongside some of the UK’s most exciting, world-changing startups. One of these projects within our exclusive investor network is Plastic Green Power; a dynamic renewable energy business which is seeking to address the UK’s reliance on coal, replacing this with a range of new technologies.
The UK has publicly committed to eliminate the country’s reliance on coal by 2024 and phase out current nuclear power plants. The result of these efforts has been a lowering of capacity in base-load power generation, which is set to exacerbate as decommissioning of older power plants continues over the coming years.
This problem is made worse by efforts to move to renewable energy sources like solar and wind, which pose problems of irregular electricity supply due to variable output. The good news is, a range of technologies can be brought to bear to address these problems in a circular, profitable way…
A bit of background
Incorporated in July 2019, Plastic Green Power is based in London and operates as a consultancy in the field of renewable energy. It exists to draw commercial gain from the UK’s energy markets, whilst making a positive contribution to environmental sustainability.
With their specialisation in renewables and wealth of experience in the industry, PGP is poised to find, assess and develop favourable opportunities. Leveraging relationships with technical engineers, landowners and energy providers across the UK also positions PGP to engage in efficient, sustainable and subsequent energy trading which provides a return for investors.
The opportunity ahead
Gas Peaking Plants provide power to the UK in times of peak demand and prices. The main problem is that they run on natural gas or CH4. However, technologies now exist which can reconstitute plastic into useful gases and oils.
The gaseous products include hydrogen, which can be sold as a fuel or burned to create electricity while synthesis gas (syngas / green-gas) can also be burnt as a fuel. The idea, therefore, is to combine the technologies: plastic gasification to create green-gas, and utilise the green-gas to run gas peakers.
The opportunity in the marketplace is considerable. Not only is there pervasive plastic waste to leverage, but local councils can also be approached for a gate fee. This means they could be sold electricity and conceivably, one day, hydrogen.
Seed / Enterprise Investment Scheme (S/EIS)
Plastic Green Power Ltd should be eligible for SEIS (first £150,000) then EIS very soon. These applications will be processed accordingly, once trading is formally established.
The company’s initial funding round is already part-funded, but the company requires additional funding to:
- Finalise technology combinations and overarching process
- Identify new and existing sites for development and/or commissioned sale.
- Consult on early-stage development of land assets to Reading To Build status (RTB).
- Facilitate the sale of acquired or self-developed assets.
- Achieve funding down the line for construction of PGP’s plant.