AN ANDOVER farm has secured a multi-million pound investment to create one of the largest anaerobic digesters in Europe.

Yelspa Ltd, who are based at Apsley Farms, near Andover Down, have been given a £13million loan to invest in the expansion of the machine, which is used to produce an eco-friendly form of natural gas.

The investment was provided by HSBC to expand the current digester into one of Europe’s largest farm-based anaerobic digestion plants.

The farm will also use £1.5million of the money to develop a new ‘liquefied CO2’ plant which will process waste gas produced by the farm and convert it into a substance that can be used in the food and beverage industry.

Once completed it is expected the device will produce around two and a half per cent of the UK’s liquefied CO2 daily usage.

Meanwhile the £10 million loan will be used to expand the company’s anaerobic digestion facility.

The device breaks down organic materials and converts it into ‘biomethane’, a natural gas like product which can be used for heating, fertiliser or even ‘green’ vehicle fuel.

The remaining £1.5million will be used as an overdraft and working capital facility to help the business with the smooth running of its operations.

Owner of Yelspa, Henry du Val de Beaulieu, said: “Transforming the farm into an economically viable business has been a long journey. “We started from nothing so to be in the position we are now, with one of the largest on farm anaerobic digestion plants in Europe, is a fantastic achievement.

“To have HSBC’s support through this process has been invaluable and has given us mobility and security to help realise our ambitions for the farm.

“We have every intention to continue expanding the farm and create more jobs for the community.”

Mark Frettingham, area director for corporate banking in the South East, said: “Henry has transformed his farm into an innovative and profitable business. “Founded on years of hard work and dedication, Yelpsa is in a fantastic position for growth with a forecasted turnover expected to reach over £10 million in 2017.

“Our team worked closely with Henry to put together a funding package to best support his plans for the farm and its next phase of development.”

Yelspa comprises of a 1,050 acre farming operation and, until five years ago, the business farmed arable crops of wheat, spring barley and seed rape in a tight rotation.

However, due to decreasing margins, the owners decided to invest in a bio digester and farm for energy.