Helius Energy seeks funding for UK biomass power projects
UK-based biomass developer Helius Energy is proposing to raise £6.3m to fund a pipeline of wood-to-power facilities in the country.
Of the total amount, the company will raise £5.2m by placing shares while, the remaining £1.06m in an open offer to shareholders, said the company.
A part of the fund will be used for the development of a 100MW power station in Avonmouth.
Helius is in currently engaged in discussions with the Lloyds Banking Group and Royal Bank of Scotland to secure the funding for the Avonmouth plant.
The project will create 450 jobs during the construction phase and 40 new full-time jobs once it is operational.