There has been a joint venture between the Clydesdale Bank and the Yorkshire poultry sector. The bank has announced a £6 million investment in the poultry sector to boost its overall growth.
The investment is made to provide renewable energy to sustain the poultry farms. As far as the funding is concerned, there has been a collaboration between two distinct departments of the bank. Thus, the Renewable and Agricultural divisions have stepped forward to join hands in the £6 million investment plan.
Furthermore, Richard Maxwell Ltd. will be acquired by Biomass Group Ltd. to ensure that the poultry gets a steady supply of renewable heat.
A Few Key Points About Biomass Group Limited
- The group owns 12 MegaWatt of biomass boilers to ensure a consistent supply of renewable heat to the poultry.
- Annually, the company produces nearly 24 Gwh of renewable energy.
- Such large-scale heat production saves more than 6,000 tons of CO2 (Carbon dioxide).
- Hence, the group is not just working on the poultry forefront but also working to save the planet by limiting and minimising CO2 emissions.
With the advent of new technologies, gone are the days of burning fossil fuels. Thus, the emergence and active participation of biomass boilers have become quite imminent. Poultry depends on heat sources to ensure there is adequate production of chicken and turkeys.
Thus, biomass boilers have been an excellent replacement for fossil fuels. Apart from that, biomass usage contributes to green farming alternatives. Hence, renewable heat seems like a deemed option to replace wood, coal, or pellets to serve the world.
The owner of Clydesdale Bank has spoken out in favour of biomass usage. Virgin Money was seen talking about reducing the emission of greenhouse gases. Hence, he was talking both from a business and an individual point of view. With the new acquisition, Virgin Money is now the head of renewable energy.
What could be the reason to invest such a large amount in renewable sources of energy? Do the investors have a vision in their minds? What this acquisition holds for the future of poultry and other sectors? Keith Wilson answered all such questions in his talk about receiving financial support. He says:
“As an entrepreneurial organization that is committed to Net Zero, we believe we have an important role to play in supporting businesses seeking to transition to more sustainable forms of energy. Lending in support of on-site renewable heat generation plays well to our strengths and is rapidly becoming a niche for our team here at Virgin Money, with this transaction being our third, in as many years”.
Mr. Brian Richardson, the Head of Agriculture at Virgin Money has commented on the views mentioned above. He exclaims:
“This is a great example of how the Bank has been able to bring together its specialist knowledge from two distinct divisions to drive the sustainability agenda forward. Being able to bring our in-depth knowledge of the poultry sector and of future markets meant we were able to advise on the sustainability of this long-term project. This acquisition will make a real difference on the ground by providing renewable heat generation to large scale poultry producers, who are aware of the impact of fossil fuels on their climate emissions. This is great for the sector, indicating the direction of travel and what needs to be done to prepare for the future.
“It’s clear that now, and into the future, food production will be all about green credentials. It will continue to rise in importance for consumers, and helping industry leaders deliver on the Net Zero ambition is a core goal of our financing strategy.”
With a positive nod from numerous personnel in favour of green energy, the more and more commercial sector is stepping forward to join the movement. Hence, there is a bounce in demand for green energy in supermarkets and restaurants.
These are the signs of efforts to implement the policies of the NetZero agenda. Not just the commercial sector but also the business world is running errands to bring green energy to the front. Hence, joint efforts are being made to keep fossil fuel energy at bay. This is done to implement and execute the clear intentions of using biomass green energy.
Trevor Coultan, Managing Director of Biomass Group Limited commented:
“We are keen to lead a transition towards sustainability across the sector and are very happy with the funding facilitated by Clydesdale Bank introduced to us by Lennox Partners. We are a specialist biomass boiler company providing renewable energy to Agri businesses, and we are growing in confidence that our alternative fuels and infrastructure will put pressure on eradicating dirty energy. We are dedicated to green solutions and are thrilled to be working with partners to bring down carbon emissions on the farm.”