News

Following extended development of its Blackwater Valley 200kWe plant, Biomass CHP Ltd is pleased to announce that it has now completed a further ?600,000 funding round. The investment round was led by Clarendon Fund Managers, who followed their earlier investments, alongside investment from Business Angels including members of London Business Angels, Board Members, and R&D support from Invest Northern Ireland, part financed by the European Regional Development Fund (ERDF).

The funds will enable our 300kWe plant, located at the Kilwaughter Chemical Company (KCC), Larne to be brought on-line to generate income and to demonstrate the profitability and operability of our combined heat and power system to future customers.

We are also delighted to announce that, as a result of closure of the funding round, Tom Fourcade will join the company as CEO in the autumn. Tom brings extensive business experience in wood recovery and commercialising green energy technologies. Richard Bean also joins the Board as Engineering Director with prime responsibility for project management of the new plant at KCC, and for completion of the design of our standard 300kWe/300kWth modular plant for future customers. Dr Brian Williams continues as Research and Technical Director.

Two additional non-executive directors, Geoffrey Robinson and Domhnail O?Neil, will also be appointed to the Board, bringing strong operational and commercial experience as the company moves into manufacture and sales. Peter Ramm, who brings extensive experience of engineering and financing large power plant projects with Advanced Power (UK) Ltd, will also attend Board meetings. Roy Devine will continue as a non-executive director and also as interim Finance Director and Clarendon Fund Managers Ltd will continue to be represented on the Board by Jim Curran.

Closing this funding round is a signal event for our company. Wood chip gasification for CHP generation has an important role to play in the profitable provision of green energy. A large number of plants will be needed and Biomass CHP Ltd?s system will play a major part in their supply.

For more information contact -

Biomass CHP
Ralph Pickles, Chairman
www.biomasschp.co.uk

London Business Angels
Chris Padfield, Investment Manager
chris@lbangels.co.uk
www.lbangels.co.uk

Editor's notes

About London Business Angels
The London Business Angel network comprises an exclusive and experienced membership of 130 influential business leaders from the south of England, offering a total of ?50 million for investment. GLE Group is a leading provider of equity, loan, cashflow and asset finance. The GLE Group also delivers business development, international trade, property and consulting services. We create value through investment and by providing innovative and commercial approaches to economic growth successfully maximising the potential of people and businesses. GLE Group incorporates YFM Group, the most active equity investor in the UK. Together, we are a leading provider of equity finance with ?330m under management, investing from ?100,000 up to ?8 million in growing businesses throughout the UK.

September 17th, 2009