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Green energy business Farmgen is in talks with major infrastructure funds about securing investment to roll out its anaerobic digestion (AD) plant technology, according to founder Simon Rigby.
The company, part of the Greengen Group, specialises in developing, managing and operating AD plants, which use a natural process to generate electricity. Speaking to Insider, Rigby said the market was becoming increasingly attractive to investors.
The business launched its first AD plant at Carr Farm in Cumbria last year which now generates 800kW of electricity; the equivalent of powering more than 1,000 homes. It also has a site at Dryholme Farm, near Silloth, which started supplying electricity to the national grid last November.
Farmgen has developed an AD plant with runs on grass rather than maize which is more commonly used across Europe. Rigby said the company now has 17 sites in the planning stages, including an application for Moss House Farm in St Michael's-on-Wyre, near Garstang.
He added that changes to the Enterprise Investment Scheme (EIS) will also benefit the company. The Seed EIS relief applies to investments made on or after 6 April 2012 and for the first year of the new scheme the government offer a capital gains tax holiday.