Liverpool Daily Post: Stobart in 1m tonnes biomass supply deal09/09/2013
Logistics to airports group Stobart has announced a significant supply deal for its biomass division today.
The group has entered into an exclusive master framework agreement with Greensphere Capital for the supply of up to 1 million tonnes of biomass fuel each year into existing and future biomass power plants.
The two organisations have worked together for 18 months and have identified a number of existing and potential biomass projects for possible investment by funds managed by Greensphere, which is a specialist investment firm focused on sustainable energy and infrastructure.
Greensphere Capital will be investing in a national platform of waste biomass power plants, which will be supplied by the framework agreement involving Stobart.
As well as generating revenue for Stobart from supplying these plants, the group, which employs about 1,000 staff on Merseyside at its Warrington trucking headquarters and its Runcorn/Widnes multi-modal site, will also receive income from transporting the product and supporting each new project, through to commissioning.
Stobart operates its own biomass division and plans to develop a biomass power plant at its Runcorn operation.
Andrew Tinkler, Stobart chief executive, said: “We believe Greensphere is the ideal partner for Stobart Biomass in this rapidly expanding market and whilst we continue to work with a number of other plant developers, this agreement promises to underpin a sizeable element of our biomass supply strategy.”