Investment company Bisan Ltd. will be one of the investors behind the first P-Fuel Ltd. plastics-to-fuel plant in the United Kingdom, to be built in Appley Bridge, England.
P-Fuel technology creates a fuel source from waste plastics, and provides an alternative to biofuel.
Bisan has a portfolio of investments including the myGeneration secondhand smartphone trading business and has a 16 percent stake in P-Fuel.
P-Fuel and the Cheshire, England-based Appley Bridge Biomass Energy Limited will formalize a lease arrangement on an industrial park site for the plant.
Engineering consulting group Stopford Projects has been hired to apply for planning and environmental approvals to build, construct and operate the plant.
P-Fuel chairman Patrick Volpe said: “P-Fuel now has a site location to launch and commission its first operating plant.
“The U.K. Government are very supportive of the P-Fuel type of technology that effectively creates a positive fuel source from one of the world biggest nuisances — waste plastics. These waste plastics not only take hundreds of years to rid themselves from the environment but also consume valuable land mass.
“Our fuels provide an alternative to biofuel that may use organic or plant inputs as stock feed which in some cases is also used as a food source for human consumption.”
The U.K. site is a good location to serve as a launching pad for sales into the rest of Europe, the Middle East and Africa, the Volpe said.