The Venture Codex

Participated · Equity · Mar 2026

Celtic Renewables operates Scotland’s first biorefinery, a commercial demonstrator facility in Grangemouth that has been running since 2023. Using a patented Acetone-Butanol-Ethanol (ABE) fermentation technology, the company upcycles waste streams such as whisky by-product pot ale and rejected potatoes into high-value bio-chemicals: bio-acetone, bio-butanol, and bio-ethanol. Management reports that the demonstrator has validated the scalability and commercial viability of the process, effectively de-risking future projects. With fresh capital, Celtic Renewables plans to develop a £120 million industrial-scale biorefinery at Grangemouth that will offer ten times the output of the current plant. The envisioned expansion is expected to create skilled jobs and reinforce Scotland’s low-carbon industrial strategy. No revenue or production volume figures were disclosed in the article.