- Terrae Novo seeks £100m to build a plant in Humber to process 60,000 tonnes of waste annually.
- The start-up has already raised £7m from Traditum Private Equity and gained planning permission.
- The process converts non-recyclable plastic and bio waste into syngas, which can be used for low-carbon fuels.
- The plant aims to create 25 local jobs and more in the supply chain.
Investment and Plant Development
Terrae Novo, a Leeds-based start-up, is seeking £100m to build its first plant in Humber, UK, aimed at converting non-recyclable plastic and bio waste into new plastics and low-carbon fuels. The company has already raised £7m from Traditum Private Equity to demonstrate its process and has secured planning permission for the site at Saltend, near Hull.
Innovative Recycling Process
The process developed by Terrae Novo combines existing technologies to convert waste that cannot be recycled through traditional methods into synthetic gas or 'syngas'. This syngas can be broken down into hydrocarbon molecules, which can then be used to create aviation or road transport fuel with a lower carbon footprint than conventional fossil fuels. Additionally, the process can produce feedstock for new plastic products, potentially making it 'carbon negative' by locking in carbon and replacing crude oil.
Operational Goals and Environmental Impact
Once operational, the Humber plant aims to process around 60,000 tonnes of waste annually and create 25 local jobs, with additional employment opportunities in the supply chain. Terrae Novo's process addresses the inefficiencies and environmental impact of sending waste to landfill or burning it in energy-from-waste plants. The company highlights that the UK uses five million tonnes of plastic annually, with over one million tonnes ending up in landfill and 2.5 million tonnes exported.
Leadership and Future Plans
Founded in 2019, Terrae Novo is led by Jason Woods, who has held senior roles in companies like Drax Power, Vattenfall, and INEOS. The team has spent two years working with Traditum to develop the process and investment proposal. The company plans to establish a network of plants across the UK and Europe, with the Humber site serving as the first step towards global expansion.
