New Energy Risk supports Yilkins’ low-carbon fuel production projects with custom insurance solution.

An insurance solution by New Energy Risk provides a warranty backstop for Yilkins’ novel biomass drying and torrefaction technology.
Half Yilkins logo in green

New Energy Risk (NER), a wholly owned division of Paragon, and provider of customized insurance technology solutions for energy transition projects, has provided Yilkins with a performance warranty backstop insurance program to support the company’s project pipeline. Yilkins supplies novel, patented technology and equipment for cost-effectively turning a wide range of organic residue streams such as forestry and agricultural residuals into standardized fuel products. Yilkins is involved in projects for the production of low carbon intensity fuels for a range of applications including industrial heat and power, green hydrogen, sustainable aviation fuels, and renewable chemicals. Yilkins’ process offers lower capital cost and uses significantly less energy than incumbent solutions. The latter translates into a favorable carbon index for novel biomass-based processes.

Yilkins has spent over five years developing its novel drying and torrefaction technologies. The insurance solution designed by New Energy Risk and provided by Markel Insurance SE supports the commercial deployment of Yilkins’ technology at various large international companies and enables expansion of its business worldwide. The insurance solution provides an efficient means for Yilkins to ensure the value and performance of its warranties to its customers without the need to heavily capitalize its balance sheet.

“Yilkins’ technology has been rigorously developed and stress tested, enabling New Energy Risk and our insurance partners to support the value of the warranties. Qualified Yilkins certificate holders should feel confident knowing that a world-class warranty backstop is in place. After extensive technical due diligence, New Energy Risk is proud to stand behind Yilkins’ performance and workmanship.”

NER Managing Director for Due Diligence, Brad Price

New Energy Risk has a history of supporting technologies and projects that provide cleaner utilization pathways for non-traditional and difficult-to-manage waste and residual streams such as municipal waste, agricultural waste, and industrial residues.

“We appreciate that Yilkins has put their trust and confidence in NER’s support to help grow their business and enhance customer adoption of their technology,” said New Energy Risk CEO, Tom Dickson.

New Energy Risk used a proprietary techno-economic model that synthesizes scientific understanding, engineering analysis, as well as actuarial and financial expertise to assess the performance of Yilkins’ technology and its potential output of on-specification products. After its extensive assessment of the torrefaction technology and process, New Energy Risk developed a custom solution, to backstop Yilkins’ obligations under its warranty. The insurance program provides a significant enterprise risk mitigant for Yilkins and enhances the bankability of its warranty from the perspective of its customers.

“Collaborating with New Energy Risk aligns with Yilkins’ commitment to create sustainable value and contributing to the realization of carbon-negative initiatives and sustainable development goals,” added Rob Voncken, CEO of Yilkins. “The support and expertise provided by New Energy Risk’s insurance backing is essential in facilitating the implementation of new, sustainable biomass-based supply chain projects, leveraging Yilkins’ highly efficient and cost-effective conversion technologies.”

Seeing is believing.

We are happy to give you a tour so that you can experience how our advanced technologies work. Are you ready to see it yourself?
Half Yilkins logo in blue

Related articles.

Yilkins is proud and happy to announce the finalization of a contractual engagement with Reliance, an esteemed member of the Global Fortune 500 enterprises, commissioning Yilkins to furnish a torrefaction plant.
Tokuyama Corporation, the Japanese chemical manufacturing company conducting in five segments; chemicals, cement, electronic, life sciencesand environmental products has awarded Yilkins with a contract to supply and install a Yilkins torrefaction plant on the Tokuyama factory
Recently Heineken announced the launch of a pilot project to maximize circularity and contribute to decarbonizing its breweries, a world-first pilot in France. In partnership with Duynie, Idex, and Yilkins the Heineken group introduced its Circle

Request a demo

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.