A new investment vehicle in the plastics to oil field is considering a bid for the former Anglesey Aluminium site after the collapse of Orthios.
Orthios had built a materials recycling facility (MRF) and was in the process of developing a Plastics-to-Oil (P-2-O) unit at the Holyhead site - creating jobs and winning praise from Prime Minister Boris Johnson and Ynys Mon MP Virginia Crosbie.
But the company went into administration in March - with up to 100 workers losing their jobs and local firms potentially left out of pocket. The site and facilities were placed on the market last month.
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Now the newly formed b.grn Group Ltd says it is interested in the site. b.grn is a Special Purpose Vehicle (SPV) in which Sabien Technology Group Limited has a 33% shareholding and Parris Group owns 67%.
Bosses say it has been set up to develop a large-scale UK processing capability that utilises technology from City Oil Field(COF) Inc of South Korea for which Sabien - which is listed on the AIM market at the London Stock Exchange - holds the exclusive UK sales agency. COF’s proprietary technology and techniques focus on the production of oil products from low temperature processing of end-of-life plastics.
Richard Parris, of b.grn, and a director of Sabien Technology Group and Parris Group, visited the Anglesey site on Wednesday with Conservative MP Ms Crosbie.
It is one of two sites the company has identified as potential locations with the other in the Humber Freeport Zone. They said any development in Holyhead would be dependent on the area securing freeport status. Welsh and UK governments are currently in discussions over a freeport in Wales.
The firm said work is progressing to secure either or both of these sites subject to "commercial negotiations, site investigations in Humberside, confirmation of Freeport status in Holyhead, and the appropriate capitalisation of the SPV": They were chosen as they are close to deep-water ports and road/rail infrastructure.
It has entered into negotiations with financial investors to support the development of its strategy with around £50m being sought to develop a single site.
Richard Parris of b.grn, said: "We are accelerating the development of b.grn to reflect the emerging geo-political and economic landscape. Fuel sources are more important than at any time in recent experience. This has created an unprecedented combination of national and local governments, waste management and fuel customers, and land vendors, all seeking a solution. In my opinion, b.grn is that solution. We have been impressed with the speed and level at which we have engaged with interested parties, and we look forward to taking the company to the next stage: being on site and producing fuel.”
