Interim report H1 2023: New product range to meet customer demand
C-Green is now developing three different biorefinery sizes to meet the growing demand from small and medium size wastewater treatment plants (WWTPs): the T1 with an annual capacity of up to 1,000 wet tons, the T5 with an annual capacity of up to 5,000 tons, and the T25, our full-scale plant with an annual capacity of 25,000 wet tons. The T1 will be useful as a marketing tool for early adopter customers who want to validate our technology before investing in a full-scale T25 biorefinery. The T1 will be a mobile unit that can be rented or purchased, while the T5 and T25 will be our main volume products. A T25 will be commissioned during the summer of 2024, in cooperation with the environmental company Ragn-Sells, on their site near Norrköping, Sweden.
Activities in our focus markets during the first and second quarters included a well-attended open-house event at our pilot plant installation at REYM in Rotterdam and successful pilot trials with WWTP & industrial sludge streams from Rotterdam harbor and municipal WWTPs. A recent research cooperation between C-Green and Karlstad University has indicated lucrative synergistic effects on biogas production resulting from our technology. We have initiated further research and have applied for a patent for the process which could potentially substantially improve the future returns from our biorefineries.
Despite the current turbulence on the financial markets, investors continue to show a keen interest in C-Green. We are in dialogue with several investors who, in addition to capital, can offer key industrial competence and provide access to strong networks. We plan to offer a total of EUR 10 million in convertible loans in September. The first closing of about EUR 4 million with an anchor investor is expected to take place during mid-October. The convertible loan issue will be open until the end of 2023, with several closings during the period. The next share issue is planned for the first half of 2024.