The Helius Energy plant is being construction in Rothes, an ancient village located within the Spey Valley, in Moray. Shipping line heir Alastair Salvesen holds a 23% stare of the project, Perthshire investor Angus MacDonald holds 18% and Stagecoach founder Ann Gloag nearly 5%. The company narrowed its losses in the six months to 31 March to £644,000 from £956,000.
Chief executive Adrian Bowles said: “The Rothes project is now one year into construction and progressing well. This demonstrates our ability to develop, finance and deliver its projects.”