Hemp-based insulation firm secures Scottish National Investment Bank funding

IndiNature says investment will help scale up production of its ‘carbon negative’ building material reports Business Green.com

Carbon negative insulation for homes and commercial properties is to be produced in Scotland for the first time following a £3m investment in a pioneering green materials firm from the Scottish National Investment Bank.

IndiBreathe, an insulation material produced by sustainable construction materials business IndiNature, uses natural fibre made with UK-grown hemp.

The company’s core product IndiTherm is designed to be fitted both in new and retrofitted buildings and results in net carbon capture because it absorbs more carbon dioxide than the emissions produced to manufacture it, while also improving the energy efficiency of the building where it is installed.

IndiNature now plans to open a new manufacturing hub in Jedburgh, in the Scottish Borders, in summer 2022 and grow its workforce to 30.

The Bank’s investment should enable the business to scale up production and target new domestic and international markets, the company said. IndiNature has also unlocked over £800,000 grant funding from Zero Waste Scotland and £250,000 from South of Scotland Enterprise to support the expansion plans.

Eilidh Mactaggart, CEO of the Scottish National Investment Bank, said decarbonising the construction industry was a critical element of Scotland’s journey to net zero emissions:

“IndiNature’s innovative natural fibre insulation supports this journey in two clear ways, increasing energy efficiency of buildings and storing carbon within the insulating material itself,” she said. “It was clear through working with IndiNature its products fundamentally supported the delivery of the Bank’s missions. The Bank’s patient capital can help the company to achieve its growth aspirations, with positive economic and environmental benefits for Scotland as a result.”

At capacity, IndiNature’s new site should be able to capture 10,500 tonnes of CO2 a year, meaning that the factory will have the equivalent impact to planting more than five million trees by 2050. The company said its products can reduce the average new UK home’s construction-related carbon footprint by 4.4 tonnes CO2.

Scott Simpson, Co-founder & CEO of IndiNature, said the company aimed to make insulation “that’s good for people’s health and the planet”.

More at  https://www.businessgreen.com/news/4035738/hemp-insulation-firm-secures-scottish-national-investment-bank-funding

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