Former IG Group chief executive and stockbroker Nat le Roux has invested £2m in renewable biomass, reflecting the growing importance of green energy.
Mr Le Roux, former chief executive of FTSE-100 company IG Group, has bought a personal stake in biomass business Terravesta.
The large investment reflects the growing importance of clean energy at a time when UK industries looks to cleaner, renewable sources.
Miscanthus is a high yielding energy crop that grows over 3 metres tall, resembles bamboo and produces a crop every year without the need for replanting.
The rapid growth, low mineral content, and high biomass yield of miscanthus increasingly make it a favourite choice as a biofuel, outperforming maize and other alternatives.
'Bolster markets'
Mr Le Roux's investment will see Terravesta grow its operations, allowing for more miscanthus planting to meet increasing demand and fund further research into producing new seed-based varieties.
Terravesta is one of the UK's leading miscanthus supply chain specialist, producing sustainable energy from marginal land.
Alex Robinson, operations manager for Terravesta said: “The investment will bolster miscanthus markets and pave the way for innovations which are being successfully field- trialled.
“Over the next few years a proportion of farmers will be able to plant miscanthus from seed as well as rhizome and currently numerous future markets for miscanthus are opening up, which include biodegradable plastics, packaging, furniture, high value chemicals, pharmaceuticals and hundreds of other uses, through the process of bio-refining,” he said.
According to Mr Robinson, miscanthus is carbon negative, meaning it absorbs more carbon than it releases through harvest and transport.
The crop also boosts soil health, encourages biodiversity and 350,000 hectares in Britain is suitable to grow it without any detriment to food supply, he said.
'Global scale'
Commenting on his acquisition of a significant minority stake in Terravesta, Mr Le Roux maintains that Miscanthus will become a "major part" of the energy mix and will contribute to mitigating climate change on a "global scale".
“Terravesta is an innovative British company with unflinching drive and vision and is paving the way for the sustainable bio-economy,” he said.
“Big challenges require big solutions and I’m delighted to be investing in the leading biomass company in its field. Terravesta’s vision and practical approach to a sustainable future is driving exciting new opportunities.”
