Greenward containerised plant units in front of fermentation towers
Investor relations·A system taking shape

The infrastructure playthe UK cannot afford to miss.

Greenward is building the UK's first commercial-scale waste-to-bioethanol platform. Supply agreed at site one. Offtake in negotiation. Technology trialled on real waste, with independent validation under way. The market is structurally undersupplied.

£1.4B+
UK annual bioethanol import spend
0
UK commercial waste-to-ethanol competitors
250M
Tonnes of paper waste available globally (NC State)
6
Independent revenue streams per plant
~50k
Tonnes of CO₂ abated per plant per year
Waste-derived RTFC rate (DfT application)
Investment thesis

Six reasons this investment
is structurally compelling.

01

A market structurally forced to change

The UK produces 3.5 million tonnes of sewage sludge annually. 90% is spread on agricultural land, contaminating soils with PFAS, microplastics and heavy metals. Incoming regulation will ban this practice. Simultaneously, domestic bioethanol production has collapsed: Vivergo closed in 2025, leaving the UK importing virtually all of its 1.4 billion litres of annual demand. Greenward sits at the intersection of both crises.

02

First-mover with no domestic competition

There is no commercial-scale waste-to-bioethanol operation in the UK. Greenward's first plant will be the first. The technology is engineered in-house, trialled on real paper waste, and undergoing independent engineering validation. The IP is proprietary and owned outright. The window to establish this position is now, and Greenward is already through it.

03

Supply agreed, offtake in negotiation

Greenward is not building a plant and then looking for customers. The first facility is sited with its feedstock supplier under agreed heads of terms, including a long-term inflation-linked lease with consistent, contaminant-free volumes. Offtake is in active negotiation with tier-one global buyers. Gate fees begin on intake.

04

Six revenue streams from a single asset

Each Greenward plant generates six independent revenue lines: gate fees, bioethanol sales, RTFCs, the double waste-derived certificate rate (classification application with the DfT), carbon credits (subject to LCA and registry approval), and carbon capture. The diversity of these streams creates a resilient, multi-layered return profile unavailable to any single-stream competitor.

05

Modular, scalable and replicable

The Greenward system is factory-built in 5 months, precommissioned before it arrives on site, and installed in 6 to 8 weeks on under 1 acre. The full processing cycle takes under 48 hours. Greenward has mapped 35+ priority global sites near major ports, each a replicable deployment. The proprietary IP also includes a route to Sustainable Aviation Fuel via alcohol-to-jet technology. Each plant is a replicable unit. The model scales horizontally.

06

Policy tailwinds locked in by statute

The UK Renewable Transport Fuel Obligation mandates increasing blending targets through 2032 and beyond. Eligible waste-derived bioethanol earns double RTFCs versus crop-based ethanol, a statutory advantage that cannot be competed away. Greenward's feedstock classification applications are with the DfT; as the UK's first dedicated waste-to-bioethanol developer, Greenward is positioned to capture this premium in full.

Revenue model

Six revenue streams.
From a single plant.

01
Immediate

Gate fees

Waste operators pay Greenward to accept feedstock. Revenue begins on intake, before the process starts. Structurally insulates Greenward from ethanol price movements.

02
Core

Bioethanol sales

High-grade ethanol sold into industrial, pharmaceutical, cosmetics and fuel-blend markets. Offtake in active negotiation with tier-one global buyers.

03
Policy

RTFCs

Every litre of eligible waste-derived bioethanol earns Renewable Transport Fuel Certificates under the mandatory UK RTFO obligation on fuel suppliers.

04
Policy premium

Double waste-derived rate

Greenward's feedstocks are the subject of a classification application with the DfT for the double waste-derived rate: 2 certificates per litre versus 1 for crop ethanol. A structural premium crop producers cannot access.

05
Upside

Carbon credits

Around 50,000 tonnes of CO₂ abated per plant per year (Tunley Environmental). As UK ETS and voluntary markets align, this represents significant additional upside, subject to LCA and registry approval.

06
Near-zero capex

Carbon capture

Fermentation produces a pure CO₂ stream for capture and sale into food-grade, industrial and enhanced oil recovery markets. A sixth revenue line at near-zero additional cost.

Market context

A market forced open
by two simultaneous crises.

The UK faces a waste crisis and a fuel security crisis simultaneously. Greenward resolves both with a single proprietary system, converting the waste that cannot be landfilled, incinerated or spread on land into the fuel the UK is currently importing at scale.

1.4Blitres

UK annual bioethanol demand, virtually all imported

3.5Mtonnes

UK sewage sludge produced annually, 90% spread on land

2032

RTFO blending targets mandated through, and increasing

£0

Domestic waste-to-bioethanol capacity currently operating in the UK

Why now

Four forces converging
at exactly this moment.

01

Vivergo closed in 2025

The UK's largest bioethanol producer shut permanently, removing 420 million litres of domestic capacity. The UK now imports virtually all of its bioethanol. Greenward is building the credible domestic replacement.

02

Sludge spreading bans incoming

Regulatory pressure on PFAS, microplastics and heavy metals in biosolids is accelerating. Water companies face mounting liability. Greenward offers a compliant, revenue-generating alternative to spreading.

03

RTFO targets locked through 2032

The Renewable Transport Fuel Obligation mandates increasing blending targets. Eligible waste-derived bioethanol earns double certificates (Greenward classification applications with the DfT). Demand for compliant supply is set by statute.

04

No domestic competitor exists

There is no commercial-scale waste-to-bioethanol operation in the UK. The first plant to operate will establish the supply relationships, policy relationships and operational learnings that define the market.

Investor information

Request access to the
investor dataroom.

Greenward shares its investor materials through a secure dataroom: the financial model, site and trials documentation, technology validation reports, and the regulatory pathway. Available to qualified investors under NDA.

Full financial model and projections
Independent engineering validation report
Offtake term sheets and supply agreements
Regulatory and RTFO analysis
Site details and planning status
Management team and advisory board

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