The Scottish National Investment Bank has granted £3 million to the UK’s first dedicated natural insulation factory that also has the capability of capturing a total of 10,500 tonnes of CO2 per year.
IndiNature, a pioneering company that specialises in sustainable insulation, was provided the grant through the Zero Waste Scotland (£803k) and South of Scotland Enterprise (£250k) as part of the company’s initiative to capture carbon from its factory.
At capacity, the site will be able to capture a total of 10,500 tonnes of carbon dioxide (CO2) per year, equating to the equivalent impact on the climate ‘crisis’ as planting more than five million trees.
Scott Simpson, CEO, IndiNature, said, “We couldn’t be happier having the Scottish National Investment Bank back us – it’s a strong mission fit.”
“It’s so critical the world moves faster toward what’s known as the circular bio-economy by using plants in products, to reduce waste and naturally capture carbon.”
“Our news coincides with the latest IPCC (International Panel on Climate Change) report this week which calls for urgent action.”
The company can capture carbon by using fast growing industrial crops, before the carbon is stored and essentially ‘locked up’ in the products themselves. The manufacturing processes themselves use as little as 10% of the energy of conventional insulation, implying that IndiNature’s products are storing a net amount of carbon.
The business also claims its products can reduce the carbon footprint of the average new UK home’s construction by 4.4 tonnes of CO2.