Green energy firm to double output

A Welsh biotechnology business that generates renewable electricity from waste food is set to expand its operations, after receiving a £200,000 funding package.

       Share via email

Read time: 5 mins      Added: 12/04/2019

GP Biotec, based near Talgarth in Powys, uses industrial food waste and arable crops grown at its 600-acre farm to produce renewable energy using a process called anaerobic digestion.

The family-run firm will use the six-figure sum to invest in state-of-the-art equipment including two digester tanks, doubling the amount of electricity it can currently generate.

Powering homes, creating jobs

The business is expected to grow its turnover by 70 per cent thanks to the extra capacity, as well as creating five new jobs for people in the local community.

GP Biotec was founded in 2013, by Paul, Gary, Charles and Janet Jones and is based at Great Porthamel Farm, which has been in the Jones family for more than 50 years.

Renewable electricity generated by the plant is sold to a third-party supplier and is used to power approximately 520 homes across Wales.

"Consumer demand for cleaner energy sources has grown in recent years, with more people opting for green energy tariffs as they look to do their bit for the planet."

Paul Jones, director, GP Biotec

Paul Jones said: “The completed production facilities, which will be fully operational by July, will allow us to meet this upturn in demand, powering 325 more homes across the community whilst simultaneously diverting additional food waste from going into landfill.

"When arranging the finance, the team at Lloyds Bank took the time to understand our business and aims, and immediately recognised the benefits of investing in the new equipment."

GP Biotech

Lloyds Bank provided the funding through its Clean Growth Finance Initiative, a £2 billion scheme that offers discounted finance to firms investing in lower-carbon projects.

"GP Biotec is a fantastic example of an innovative, eco-friendly business that is helping people to become more sustainable."

Arthur Thomas, agriculture relationship director at Lloyds Bank Commercial Banking

The new funding enables GP Biotec to complete its original plans for the site that were outlined during the planning process in 2010.

The anaerobic digestion process creates methane gas, which is used to generate renewable electricity, as well as solid and liquid plant fertiliser, which is used on fields at the site.

All lending is subject to status.

Support for agricultural businesses

Find out about the support that we can provide to agricultural businesses

Read more

Important legal information

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc, Lloyds Bank Corporate Markets plc and Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH.

Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is a wholly-owned subsidiary of Lloyds Bank Corporate Markets plc. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH has its registered office at Thurn-und-Taxis Platz 6, 60313 Frankfurt, Germany. The company is registered with the Amtsgericht Frankfurt am Main, HRB 111650. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is supervised by the Bundesanstalt für Finanzdienstleistungsaufsicht.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.

While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.