Biofuel plant workers take concerns to Westminster
Workers from the UK's largest bioethanol plant have visited Westminster to raise concerns the facility could close within days without government support.
Bosses of Vivergo Fuels in Saltend, near Hull, said the plant's future was "hanging in the balance" after the removal of a 19% tariff on US ethanol imports, which was part of the recent UK-US trade deal.
The firm said that without urgent action, the plant, which employs more than 160 people, would no longer be viable.
The government said it was working closely with the industry to understand the impacts of the trade deal and it was open to discussions over potential support.
According to the Local Democracy Reporting Service, about 35 workers made the trip to London.
Ben Hackett, managing director of Vivergo Fuels, said: "With the future of the Vivergo plant hanging in the balance, our workers felt compelled to speak directly to their MPs about what is at stake.
"This isn't just about one site. It's about protecting thousands of skilled jobs, supporting British farming and preserving a vital part of our green energy infrastructure."
MP for Hull East Karl Turner said: "The fact that dozens of workers had to travel from East Yorkshire to Westminster today shows just how serious this situation is.
"Vivergo is not only a major employer in our region - it's a key player in our green economy and food security."
The new mayor of Hull and East Yorkshire, Luke Campbell, urged the government to "rethink" the trade deal with the US to protect British job.
In April, Associated British Foods (ABF) said it was in talks with the government to help save its Saltend plant after the company was forced to cut production levels due to low bioethanol prices.
Vivergo Fuels produces bioethanol which is used in E10 petrol.
E10, which was introduced in 2021 to help cut carbon emissions, contains up to 10% bioethanol.
The plant also produces animal feed, which is a by-product of the bioethanol production process.
Listen to highlights from Hull and East Yorkshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Biofuel plant 'faces closure after US trade deal'
Biofuel plant could close with loss of 150 jobs
Local Democracy Reporting Service
Vivergo Fuels
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
35 minutes ago
- Yahoo
Prediction: in 12 months the dirt-cheap Shell share price could turn £10,000 into…
The Shell (LSE SHEL) share price looks cheap right now, with a price-to-earnings ratio of just 8.95. That's well below the average FTSE 100 P/E of 15 times. There's a reason for that, of course. Shell shares have fallen with the oil price, slumping almost 10% in 12 months. They're still up 67% over five years though. That's less than half the drop suffered by FTSE 100 rival BP. Shell seems to have a better idea how to navigate the push to net zero, but with the oil price hovering around $65 a barrel, it's still struggling. It's far from a done deal that Shell can bounce back from today's lows and make investors rich all over again. There is little sign the oil price is about to recover. With OPEC+ increasing production, it could fall further, especially as China struggles and Donald Trump brings volatility. Then there's the push towards net zero, which could go either way. Theoretically, building a new line of renewable energy will threaten fossil fuel behemoths, but we need them to help us push through the transition. This is particularly true given exponentially rising energy demand, thanks to AI and the rest. Shell's first-quarter results, published on 2 May, showed adjusted earnings of $5.6bn. That's a big drop from $7.73bn a year earlier but ahead of analyst expectations of $4.96bn. The company also announced another $3.5bn quarterly share buyback programme, marking the 14th consecutive quarter of at least $3bn in buybacks. Cash flow from operations came in at $9.3bn, slightly below consensus expectations of $9.6bn. So what about that dividend? A trailing yield of 4.4% is okay, but not exactly to die for. It's expected to creep up in 2026, but only to 4.49%. Shell isn't the dividend superstar it once was. Over the last 15 years, I would have expected shareholder payouts to compound at a decent clip. Instead, it's fallen by an average of 2.88% a year. The board didn't just slash its full-year dividend from 188 US cents in 2019 to 65.3 cents during the 2020 pandemic. It rebased it. While payouts have climbed at a decent clip since, they started from that lower level. In 2024, the total dividend was 139 US cents. That's at levels last seen in 2007. The 19 analysts serving up one-year share price forecasts have produced a median target of around 3,027p. If correct, that's a handsome increase of around 21.5% from today. Combined with that yield, this would give investors a total return of 26%. Based on that, if somebody invested £10,000 in the stock today, it would grow to £12,600 in a year. Obviously, nobody can predict the future like that. I use it only as a guide to market thinking. Here's another. Of the 32 analysts giving one-year stock ratings, an impressive 23 name Shell a Strong Buy. Four say Hold and five say Sell. Shell continues to face risks, as the oil price slows, net zero spreads confusion, and the global economy struggles. It may look cheap, but there's no guarantee its shares will suddenly close the valuation gap. But for those wanting exposure to energy, today's low valuation does make Shell worth considering. More so than BP, in my book. The post Prediction: in 12 months the dirt-cheap Shell share price could turn £10,000 into… appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Harvey Jones has positions in Bp P.l.c. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
Yahoo
35 minutes ago
- Yahoo
New Rotherham park and ride site opens
A new park and ride site for tram train passengers has opened next to Rotherham's Parkgate Shopping Centre. The free 289-space car park is part of a £12.9m project to improve transport connections across South Yorkshire. Money for the site, which includes 14 EV chargers, cycle racks, disabled access spaces, and parking for solo motorcycles, has come from the government's £166m Transforming Cities Fund. Chris Read, leader of Rotherham Council, said: "The new Park and Ride is a real win for Rotherham – it's about making everyday journeys easier, greener and more accessible for local people. "Whether you're hopping on the Tram Train, cycling to the shops, or charging an EV, this investment helps us cut congestion, reduce emissions, and build a better-connected future for our town," he added. The money was also used to build a new link road to make it easier for people to reach the shopping park and reduce traffic congestion on the A633 and A6123. South Yorkshire's Mayor Oliver Coppard said: "South Yorkshire deserves nothing less than a world-class public transport network so our communities can access the jobs and opportunities they deserve; and that we can all stay near and go far." Mark Kanaris, senior operations manager for Parkgate Shopping Park, added: "This investment will have a daily impact, benefitting the hundreds of people who work here and the thousands of visitors who enjoy our big name stores and restaurants each week." Listen to highlights from South Yorkshire on BBC Sounds, catch up with the latest episode of Look North South Yorkshire Mayoral Combined Authority Rotherham Metropolitan Borough Council South Yorkshire gets £1.5bn travel funding boost New railway station given updated opening date Plan to cut bus journey times and improve services
Yahoo
40 minutes ago
- Yahoo
Water boss 'already rejected' bonus before new law
The boss of Yorkshire Water said she had decided to turn her bonus down before new legislation was introduced that would prevent her from receiving it. Nicola Shaw, who accepted a £371,000 bonus last year, said it would "not be appropriate" to accept the payment on top of her salary this year. It comes as Yorkshire Water recognised it needed to "do better" when it came to its performance on pollution. The water company was most recently prosecuted and fined £350,000 after a water course was polluted with sewage near York. Under the new rules, which came into effect yesterday, six firms were banned from paying "unfair" bonuses to their executives this year. It included Yorkshire Water, Anglian Water, Southern Water, Thames Water, United Utilities and Wessex Water. The measures apply to water companies that do not meet environmental and consumer standards, are not financially resilient or have been convicted of a criminal offence. A Yorkshire Water spokesperson said: "Our CEO, Nicola Shaw, had already made the decision that it would not be appropriate for her to receive an annual bonus this year due to the company's performance on pollution and a recognition that we need to do better for the communities we serve and earn trust. "She has also taken the decision to waive her entitlement to an additional bonus that would have vested under our longer-term incentive scheme. "We are determined to make improvements to our performance so we can deliver our part in creating a thriving Yorkshire, doing right for our customers and the environment." The company received public backlash in December when its CEO took home a six-figure bonus despite plans to increase bills by 41%. At the time, Nicola Shaw told the BBC the price hike would pay for supply upgrades and go towards reducing sewage discharges and storm overflows and her bonus came from shareholders rather than customers. However, she previously declined a bonus in 2023, based on the company's record on river health. Listen to highlights from West Yorkshire on BBC Sounds, catch up with the latest episode of Look North. Third of water bill cash goes on debt and dividend Water boss declines bonus following criticism Bosses' bonuses banned at six water companies Yorkshire Water Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
