Funding for first chip plant in Hull, UK
25 April 2017Modified wood producer Accsys Technologies has secured €68m funding to build, operate and finance the world’s first Tricoya modified wood chip manufacturing plant in Hull, UK. Accsys also has additional funding to expand the plant in Arnhem, Netherlands to bring Accoya modified wood annual production capacity up to 60,000m3 in a project costing €22m.
The significant increase in manufacturing capacity will allow Accsys to meet demand from the “substantial and growing markets” for Accoya and Tricoya globally.
The Tricoya chip plant will be built at Saltend Chemical Park, Hull, with funding arranged from a combination of debt and equity from BP, Medite, BGF and Volantis and debt from RBS.
Tricoya modified wood chips are used in the production of modified wood panels, such as Medite’s Tricoya Extreme MDF, which due to its modification through an acetylation process enables the products to be used in external applications.
Pre-construction engineering and design work for the Hull plant was finished in 2016 and its construction is expected to be completed by early 2019.
