Company updates from 2025
25 April 2025
Source: Celtic Renewables
As we move into Q2 2025, we're pleased to share a snapshot of what's been a strong start to the year for Celtic Renewables, commercially, operationally, and publicly. Regular shipments of our green chemicals are reaching customers, and we've seen increasing interest from both government and media.
In recent months, we've welcomed new team members, hosted high profile visits from the First Minister and the Deputy First Minister of Scotland, received multiple award nominations and wins, and gained consistent media coverage. It's been a fantastic start to the year, and there's much more ahead.
Operations Update
The manufacturing performance in terms of fermentation success, total solvent production and throughput for the period of January to early April 2025 has continued to show strong improvement.
Fermentation success has improved across the period with our standard recipe of pot ale and reject potatoes at 84.5% (above our target of 75%). Our equivalent success rate for the same period in 2024 was just over 30%. As a result we have been able to increase throughput to 6 fermentations per week, with a target of 7 per week consistently by the end of 2025. In March we achieved 9 fermentations in 9 days with 8 successful, and so we are confident of achieving this target.
With throughput increasing, so too is our production of green chemicals, with regular shipments to customers being achieved (see below).
Project Willow Report & ABE Fermentation The recently announced Project Willow Report highlights key opportunities and technologies that could position Grangemouth as a low carbon manufacturing hub, to replace the petrochemical refinery, which is closing next month. The EY-authored report commissioned by both UK and Scottish Governments, evaluated over 300 low-carbon technologies, and identified nine projects with the potential to protect the future of Grangemouth, including ABE biorefining, where Celtic Renewables is the recognised global leader. There has been considerable media coverage on the report, and with that increased profile and with support expected from both governments, work is underway on plans to develop a world-scale biorefinery in Grangemouth as part of Project Willow
Government Recognition
Celtic Renewables welcomed two Scottish Ministerial visits to the Grangemouth biorefinery during Q1. Deputy First Minister Kate Forbes toured the site in January, followed by a visit from First Minister John Swinney in March, coinciding with the release of the Project Willow Report. First Minister, John Swinney
The First Minister visited Celtic Renewables’ site following the release of the Project Willow Report, which outlines key opportunities to establish Grangemouth as a low carbon industrial hub. During the visit, the First Minister toured the biorefinery, met with employees, and acknowledged Celtic Renewables' role in driving a major shift in Grangemouth’s future direction
Deputy First Minister, Kate Forbes
Deputy First Minister, Kate Forbes visited site to see Celtic Renewables' sustainable manufacturing first hand. Speaking at the visit, she said "Celtic Renewables is a great example of the talent, energy and commitment which will ensure Scotland plays an important global role in reaching net zero targets and demonstrating how the path to net zero is a means of creating wealth and prosperity for communities
Regular Shipments of Green Chemicals
Since our last update on the first tanker release, we have continued to send regular shipments of our green chemicals to customers, in partnership with our distribution partner, Caldic. The photo to the right shows one of the latest tankers being filled last week, ready for shipment to Caldic in Chesterfield. Customer demand for the green chemicals continues to grow, with the focus now being on the next plants to meet this growing demand.
Leadership & Talent Development
Celtic Renewables continues to invest in building a world-class team, including the launch of an apprenticeship programme this April. We are also strengthening our executive team, with Bettina Brierley joining as Chief Commercial Officer from Caldic, and Kerry Crawford stepping in as Chief Financial Officer, replacing Donal Fullerton.Bettina Brierley, Chief Commercial Officer
Bettina is a highly skilled executive with over 35 years of experience in the chemical industry, specialising in sales, business development, and key account management. With significant expertise in the industry, she is well positioned to bring Celtic Renewables’ green chemicals to the global market.Kerry Crawford, Chief Financial Officer
Experienced CFO with over 30 years international experience leading finance, funding, corporate, investor relations and transformation activities. An EY-trained Chartered Accountant and Associate Member of Corporate Treasurers (AMCT), Kerry has used her extensive experience in dynamic, fast-growing companies in a variety of sectors.
Awards & Recognition
Celtic Renewables continues to gain recognition through a growing number of award applications and wins. Towards the end of last year, we received an award from the BBIA, followed by a win at the CEED Awards earlier this year for Remanufacturing. Most recently, we've been shortlisted for the UK Green Business Awards in two categories: Low Carbon Project of the Year and Manufacturer of the Year. Message from CEO, Mark Simmers
Q1 has marked a strong start to the year for Celtic Renewables. We've maintained and improved steady-state commercial operations with regular shipments to customers, strengthened our leadership team, and received recognition at the highest levels. As we continue to scale, we remain committed to delivering long-term value through sustainable manufacturing. On behalf of the Celtic Renewables team, we thank you for your continued support and we look forward to continuing this positive trajectory over the rest of the year. Warm Regards,
Celtic Renewables Team
18 September 2025
Source: Celtic Renewables
Celtic Renewables has continued to make significant progress since our last update, advancing our commercial position considerably to present a more mature investment opportunity and progress key strategic growth opportunities alongside ongoing fund-raising activities.
H1 2025 Summary
- The first plant at Caledon Green in Grangemouth is fully operational with consistent successful performance, producing high-quality green chemicals, which are being sold and shipped to customers.
- The demand for the green chemicals far outreaches our supply capability such that we are having to strategically allocate product to key future customers in sectors such as pharmaceuticals, cosmetics and industrial chemicals. A recent report produced for the company by PwC, confirms the very significant market opportunity for the company, with the high value market for bio-butanol and bio-acetone worth over US$500m.
- Celtic Renewables received considerable national recognition when the company was identified in the joint UK and Scottish Government commissioned Project Willow report as one of 9 core process technologies to be part of the new low-carbon manufacturing complex to be developed in Grangemouth – the repurposing of the petrochemical-refinery site which closed in May 2025.
- We now have three strategic project opportunities in progress - the most advanced is the industrial-scale biorefinery in Grangemouth as part of Project Willow. The Feasibility Study – the detailed design and technical specification for our “Standard” industrial biorefinery - has been positively reviewed by an independent engineering company and is ready to be adapted for each of these three projects.
- The progress for the company through H1 2025 has been funded through additional investment provided by Scottish Enterprise and existing equity investors who have continued to support the Company.
Caledon Green Biorefinery
The commercial demonstrator biorefinery built and operational at Grangemouth has delivered as it set out to do which is to produce green chemicals from by-products and waste and these are now being sold to customers (e.g. V-Mane - Fragrance; Astra Zeneca - Pharmaceuticals; Evonik - cosmetics and industrial chemicals).
Strong market demand is being demonstrated – the key constraint being the limited volume that can be produced through the existing facility. The company has recently received a very positive Market Report from PWC confirming this market position.
Our Chief Commercial Officer (Bettina Brierley) joined in April 2025 from our distributor Caldic. She brings a wealth of experience in the chemicals industry and is strategically engaging across the various market segments with blue chip customers seeking larger volumes, in order to build the commercial offtake pipeline that will be fulfilled from the next (and subsequent) scaled-up biorefineries that are being progressed.
Strategic Projects
The company has progressed from a single potential project to three live project opportunities running concurrently. With the advent of Project Willow, the company is now pursuing this project as its primary focus with two co-partner projects being progressed alongside.
Project Willow – Industrial-Scale Biorefinery in Grangemouth, Scotland
Project Willow was jointly announced by the UK and Scottish Governments on 19 March 2025, with the media announcement in Scotland by First Minister John Swinney made at the Celtic Renewables site. The objective is the creation of a low carbon manufacturing complex in Grangemouth on the previous petrochemical-refinery site that was closed in May 2025. Grangemouth has significant strategic importance to both Governments and consequently significant attention and political focus alongside government funding has been earmarked for its regeneration. The EY-authored Project Willow report commissioned by the Governments assessed over 300 technology prospects for a new Grangemouth cluster and selected 9 core technologies which have the potential for immediate deployment at full industrial-scale, with Celtic Renewables ABE fermentation being one of those 9.
The Scottish Government announced a development fund (Just Transition Fund) of £25m to fast-track the potential projects as part of Project Willow, and the UK Government announced £200m of capital funding to be provided by the National Wealth Fund to support the project finance requirements of these projects.
A comprehensive ‘Grangemouth Industrial Just Transition Plan’ (referencing Celtic Renewables) was subsequently released by the Scottish Government on 19 June 2025 with Scottish Enterprise designated as the distributor of governmental funds earmarked for Project Willow.
We are currently working closely with Scottish Enterprise (SE) to access the Just Transition funding, which alongside additional investment from SE and private investors will fund the company and support the final development phase of this project to the point it is shovel-ready in early Q3 2026, when we can achieve Final-Investment-Decision (FID) for this project. The core activities to be undertaken in the period to FID include, Front-end Engineering Design (FEED), input feedstock and commercial offtake agreements and land acquisition, planning and consents, all of which are being progressed. Celtic Renewables is also progressing two co-partner projects in parallel (Kerry Menstrie and Grissan) where large-scale trials are being undertaken and standard plant designs advanced during the pre-FEED stages of these projects.
Read more about Celtic Renewables & Project Willow
Funding
Funding through 2025 has come through additional investment provided by Scottish Enterprise and existing equity investors who have continued to support the company.
The growth equity market has proved to be incredibly challenging but with the maturing of the project investment proposition for our strategic opportunities with three projects now progressing, the pool of potential investors for this next stage of investment is wider and deeper.
Our primary focus is on securing funding for the business for the near-term project development phase through to the project financing phase (given FID is now only just 12 months away for Project Willow). In parallel we are planning to secure the project finance and further growth capital to fund the development of the larger biorefineries and the expansion of the team to enable the international roll-out of the company’s technology and commercial proposition. As outlined above, non-dilutive grant funding through the Just Transition Fund (Scottish Enterprise distributed Project Willow funds) is an enabler for project progression and de-risking as well as a significant catalyst to crowd-in matching equity funding required to reach FID. For the project finance and larger growth raise post FID, investment by the National Wealth Fund (NWF) will also be integral in unlocking funding from the institutional investors and commercial banks.
Circularity Renewed: The New Normal
We have developed a new short film, using storytelling in a powerful way to bring our message to life. The film explores how the everyday items we rely on can be made cleaner and more sustainable with Celtic Renewables’ green chemicals. Helping to make a low-carbon future The New Normal.
This film is a key asset to highlight our urgent message, it’s not about changing the way we live but changing the inputs to make daily living more sustainable.
Watch | Circularity Renewed: The New Normal
https://www.youtube.com/watch?v=dMCE1kDUqFg&feature=youtu.be
We hosted two premiere launch events for the film at the Observatory in Edinburgh and at BAFTA in London, hosted by Environmentalist Journalist and Reporter Lucy Siegle . In London, we hosted Fireside chats with key thought leaders in the industry, including Jen Vanderhoven from the BBIA and Dr David Greenfield from CIWM. It was an excellent opportunity to focus on discussions around using bio-based materials for sustainable chemical production and the need to drive change.
Celtic Renewables in the News
The Guardian
Celtic Renewables was cited in The Guardian having been identified as key to Grangemouth’s low-carbon future. As Scotland focuses on a Just Transition plan, our Grangemouth facility is scaling up bio-based chemical manufacturing, creating green jobs and supporting the Just Transition.
Chemical Industry Journal
We were also featured in the Chemical Industry Journal as a leading force in Scotland’s growing bioeconomy. The article highlights our pioneering role in commercialising ABE biorefining and scaling green chemical production at our Grangemouth facility.
Modern Apprenticeship Scheme
In collaboration with Forth Valley College based in Falkirk, 5 minutes from our Grangemouth facility, we have recruited 4 new apprentices covering process operations and electrical engineering. This is the start of the long-term commitment by the company to apprenticeships.
What these students will learn over the next three years will stand them in good stead to secure one of the highly skilled, well-paid roles that are already being created as Scotland looks to make a just transition to green, net zero economy.
If we are to realise Scotland’s potential as the home of new low-carbon industries and technologies, we need to bridge the current green skills gap, and our apprenticeship programme will be an enabler of this.
The apprentices recently met with Cabinet Secretary for Scotland, Gillian Martin at Forth Valley College (pictured above).
A Message from the Celtic Renewables Team
We’re continuing to help shape the future of sustainable chemical production in Scotland and beyond. From national recognition in the Just Transition Plan to industry features and conversations with key leaders in the industry, we’re proud to be leading change at a critical moment.
Thank you for your continuous support throughout our journey. We look forward to sharing more in the months ahead as we continue to scale.