Bioenergy company acquires UK liquid biomass business

Four Rivers BioEnergy’s UK subsidiary, Verta Energy Trading, is to purchase all the shares of ML Oils, a UK waste oil procurement and handling business.

ML Oils currently buys about 6,000 tonnes of waste liquid biomass each year which will be enough to power 4MW of electricity at Verta’s waste-to-energy plant.

Last financial year, ML Oils made $4 million (€2.7 million) of revenue before tax, and the acquisition is expected to play a role in the development of Verta, ML Oil says.

The acquisition is expected to cost £500,000 (€560,567) and ML Oil’s owner and managing director will join the management team at Verta following the sale.