Energen Biogas has a new £7.25m long-term loan and asset finance package with Barclays.
The package will be used to fund the company’s growing anaerobic digestion business, which processes waste to generate electricity at a site in Cumbernauld.
Energen’s anaerobic plant is a joint venture between Shanks Group, the global waste management business, and Paragon. Now fully operational, it has the capacity to process 60,000 tonnes of waste a year.
Robert Etherson, managing director of Energen Biogas, told the Scottish Herald: “The agreement with Barclays is very welcome as it allows the business to continue to expand. While we operate in a very competitive marketplace, the customised service we offer is allowing us to significantly grow a wide and diverse customer base.”
Andrew Meadowcroft, of Barclays, said: “Energen exemplifies the types of business we are looking to support with thoroughly tested technology and strong commercial potential.”