Paragon Insurance’s wholly owned subsidiary New Energy Risk (NER) has developed a tailor-made insurance solution for renewable technology firm Yilkins.

The new performance warranty backstop insurance programme has been designed to promote Yilkins’ low-carbon fuel production projects pipeline.

Under the tie-up, NER has used a proprietary techno-economic model that integrates scientific know-how, engineering evaluation, along with actuarial and financial expertise to examine the performance of Yilkins’ technology and its possible output of on-specification offerings.

Following an evaluation of Yilkins’ torrefaction technology and procedure, NER created a tailor-made solution to backstop Yilkins’ obligations under its warranty.

The customised programme helps Yilkins in mitigating enterprise risk. It also improves the bankability of Yilkins’ warranty from the customers’ perspective.

Financial holding company Markel Insurance provided the solution to Yilkins.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The solution enables Yilkins to commercially deploy its technology at several large international firms and allows the growth of its business across the globe.

NER’s due diligence managing director Brad Price said: “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 supports technologies and projects that offer cleaner utilisation ways for non-traditional and difficult-to-manage waste and residual streams, including municipal waste, agricultural waste and others.

Yilkins CEO Rob Voncken said: “The support and expertise provided by New Energy Risk’s insurance backing are essential in facilitating the implementation of new, sustainable biomass-based supply chain projects, leveraging Yilkins’ highly efficient and cost-effective conversion technologies.”