Investor updates from 2024

27 February 2024 

Source:  Crowdcube, Spring 2024

At Celtic Renewables, we have had a positive start to the year, and we are confident of making good and steady progress as a company this year.

Caledon Green, Grangemouth

Progress in Q4 2023 was somewhat hampered with issues relating to maintaining sterility in the plant, which is a critical element in achieving successful fermentations. However, we focused on systematically working through the various processes at the plant to eliminate these problems. This work was completed in January, and we are now operating with more consistency, with the focus now on the ramp-up of production. This will enable us to build up inventory of saleable products in the coming weeks, to generate first revenues. 

Our new COO, Jim Gibson, has been central to this progress, with a parallel focus on the continuing training of our manufacturing team to master the running of the process at the Caledon Green plant. Samples of butanol and acetone have now been sent to over 40 prospective  customers, and the initial feedback has been positive. We are now receiving orders for products from customers, as we build-up inventory at Caledon Green.

Growth strategy

Large scale production plants

We plan to develop and build four plants in the next five years, which will be 8-10x the capacity of our first  plant. The plants will be developed as “Build, Own, Operate” or Joint Venture business models, with the target to achieve revenues of over £120m by 2029.

Technology development 

We have completed a detailed and ambitious Technology Development Roadmap, which will broaden and deepen the IP portfolio at Celtic Renewables. This  will enable the company to further optimise and enhance our base process technology and increase the application of the technology to a wider range of potential input feedstocks.

Business development

With the immediately addressable markets in Acetone and Butanol being of a value in excess of US$2Bn, there is the potential to develop over 100 large-scale plants  globally. In parallel with developing the next four larger scale plants, we will establish the commercial structures  and partnerships to licence our process technology solution/s internationally.

Finance and funding  

The funding strategy is aligned to our growth strategy and has three components, each with a largely different target investor group:
Interim funding round expected to complete in three tranches in March, April and June 2024 with a target raise of £6m. This raise along with disciplined cash management will extend the cash runway to  December.

Series-B funding round with a target raise of £25m is expected to complete in September / October 2024 which would fund the business (excluding
construction of new bio-refineries) for at least the next two years. Project finance funding rounds to fund full-scale bio refinery Asset-Cos, be that 100% subsidiaries or 50% JVs.  We have appointed Corporate Financial Advisors to support the fund raise activity.  

Celtic Renewables team

Our team has now grown to 60 people, building our capability to deliver the planned growth. Our focus this year is on the development and retention of our team. We had a full team away-day in early December (see photo to the left), and there were some great suggestions for initiatives that we will develop with the team.  One of those initiatives is to increase our outreach to schools in  Scotland, with a strong focus on STEM subjects, and as a result we welcomed our first school visit recently to Caledon Green. We hope this will inspire young people to join our industry and
broaden our home-grown talent pool for the future.

Thank you

We thank you as ever for your support for Celtic Renewables. These are very exciting times for the business, with first products being distributed from the Grangemouth plant and the expectation to achieve full operational capacity later this year. In parallel we will shortly be launching our Series B fund raise to support our five-year business plan for growth. We will of course continue to inform you of further progress in our subsequent updates.

12 April 2024

Source:  Celtic Renewables

We wanted to provide you with an update on the exciting progress happening at Celtic Renewables.

Revenue Generation
In our February Investor Update, we shared news of our successful distribution of samples of our green chemicals – butanol and acetone – to over 40 prospective customers, from whom we have received positive feedback.

As a result, we will start generating revenue through product sales, with first products going to Caldic, our distribution partner and first customer beginning in late April. This marks a huge inflection point for Celtic Renewables, and a key focus for the rest of 2024 will be to increase the distribution of the green chemicals, to broaden the reach of our products across multiple sectors where replacement of incumbent fossil-fuel derived chemicals is most needed. We are very excited about further expanding the distribution of the green chemicals to wide range of new markets.

Interim Fundraise Progress
We mentioned in our previous update that our interim fundraise will be completed in three tranches, March, April and June to raise a total of £6m. We are pleased to inform you that we are currently on track with this fundraise, and as part reaching our overall target, we will be partnering with Crowdcube to close out this investment opportunity.

Stay tuned for more details on our upcoming campaign and how you can participate. We're committed to keeping you in the loop every step of the way and your continued support has been instrumental in our success – we are grateful for your belief in our mission.

Website Redesign Preview
We also want to give you a sneak peek at our fresh, redesigned website to be launched in early May. Our new website will offer access to a variety of information and updates from Celtic Renewables. As ever, we're grateful for your continued support and investment in our journey and we’re looking forward to sharing more updates with you in the weeks ahead.

25 April 2024

Source:  Celtic Renewables.

We are crowdfunding!

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. 

We are excited to announce that we will soon be launching another crowdfunding campaign on Crowdcube!

As one of our early investors, your support has been absolutely instrumental in our journey so far, driving the business towards various major commercial milestones, including the construction of our industrial-scale planet in Scotland, the securement of a multi-million pound off-take agreement with a global distributor, and the growth of our team to 50+ incredible people.

It’s safe to say that the green chemical revolution is now well and truly underway!

Now, we’re offering our Crowdcube investors a further opportunity to own a piece of Celtic Renewables. Our previous campaigns have exceeded our funding target by more than double, and we believe this round will be no different! Participation will be limited, so make sure you’re signed up to early access via the link below.

Why should you invest in Celtic Renewables?

• A 3-year offtake agreement has been signed with a major distributor for a guaranteed minimum quantity of green chemicals at fixed prices per tonne worth between £2-3 million p.a, demonstrating industry demand for our sustainable chemicals.
• Our Caledon Green plant is now aiming to optimise production towards 850 tonnes p.a. capacity.
• Based on projections for future production facilities, our green chemicals are estimated to offer a 70% reduction in carbon emissions compared to petrochemical alternatives.
• We’re tackling a several multi-billion dollar market with increasing multi-sector demand for green chemicals driven by consumer and regulatory pressure.

The campaign will launch in the coming days.  Access using the link below to ensure you receive exclusive priority access for pre-emption, 24 hours ahead of the public launch. Best wishes, CEO, Mark Simmers.

31 May 2024

Source:  Celtic Renewables

Becoming a global leader in a $5trn industry.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. 

There are now just 6 days remaining in our Crowdcube campaign. Across our three campaigns, we have welcomed over 5,000 investors to our shareholder community. Truth be told, we can barely believe the staggering amount of support we’ve received over the years. And for that, we thank you.

With such little time left to get involved in this round, we wanted to shed some more light on our future growth plans. We firmly believe Celtic Renewables has the potential to be a global leader in the fight against climate change and to become a giant in the chemicals industry - a sector that is effectively responsible for 7% of world GDP.

Future Growth Plans

• We have identified an immediate demand of 18,300 tonnes of green chemicals p.a. and up to 30,000-50,000 tonnes p.a. within 3-5 years, creating a substantially de-risked route to market. Influenced by net zero targets and legislation, there is unequivocal demand for our green chemicals in the marketplace. 
• Our growth strategy is straightforward: develop 4 new, larger-scale plants in the next 5 years to meet this demand head-on. Each facility will have an annual throughput of approximately 8,000 tonnes of green chemicals, collectively producing min. 32,000 tonnes per year of green chemicals. 
• Initially, we will follow a build/own/operate model and expect to have 100% ownership of plants 2 and 3, and 50% ownership of plants 4 and 5. Subsequent plants will be developed on a technology licensing or joint venture basis.
• We're also committed to leveraging our existing intellectual property across different sectors to drive further innovation and growth. This includes the likes of beer, yeast, cheese whey and even paper/cardboard. From initial market research carried out, we have identified in excess of 1.2 billion tonnes of low value residues and co-products, globally, that are potentially suitable for ABE fermentation. 

International opportunities: We also have international large-scale pipeline project opportunities in India and the Caribbean:

• India - As part of the Clean Ganges Programme, we're exploring partnerships with distilleries to utilise their liquid residues. Potential partners like Praj could help us license our technology.
• Caribbean - We're investigating adapting our technology for the rum industry, with promising leads from a recent trade mission to Barbados.

Our plans are ambitious. But the fight against climate change is an urgent one, so we would be foolish not to shoot for the stars. The importance of your investment, no matter how large or small, in enabling us to achieve this cannot be understated. More than 735 of you have once again invested in this round. We invite others to join us and are here to answer any questions you may have. Invest now using the link below.