AVON, Conn.–(BUSINESS WIRE)–New Energy Risk (“NER”), a leading provider of customized insurance solutions for innovative energy technologies, today announced the expansion of its existing partnership with Yilkins, a leading developer and producer of proprietary modular equipment for biomass upgrading.
The expanded partnership builds on the ongoing collaboration between NER and Yilkins, which began in 2023, extending insurance coverage under NER’s master policy to include Yilkins’ advanced pellet torrefaction process. The expanded coverage supports the deployment of Yilkins’ proprietary biomass upgrading technologies, which convert low-value residues into higher-value products for energy, fuels and chemical applications. By providing insurance backing for the technology, NER de-risks project deployment and accelerates the bankability of projects utilizing this advanced solution.
Yilkins’ torrefaction technology enhances conventional biomass pellets via a thermal treatment process that increases energy density, improves hydrophobicity and enables more efficient transport and downstream conversion. The solution can be deployed as a retrofit, or “bolt-on,” to existing white pellet production facilities, allowing producers to upgrade output without fully retooling operations.
This approach unlocks a significant portion of the global pellet supply chain and helps accelerate the transition to higher-value, lower-carbon feedstocks. The upgraded pellets are well-suited for applications including sustainable aviation fuel (SAF), biofuels and renewable chemicals.
“This expansion of our coverage for Yilkins reflects NER’s commitment to empower our customers in their pursuit of long-term growth, which translates into new pathways for decarbonization,” said George Schulz, CEO of NER. “Yilkins has demonstrated a strong technical and commercial approach that is translating to business momentum.”
“This milestone represents a significant validation of our pellet torrefaction technology,” said Rob Voncken, CEO of Yilkins. “With NER’s support, we can accelerate deployment across the globe, while enabling customers to upgrade biomass residues into high-quality feedstocks for sustainable fuels and other low-carbon applications.”
Through partnerships such as Yilkins, NER offers tailored insurance solutions that help mitigate performance and technology risks, enabling innovative companies to bridge the gap between demonstration and large-scale commercialization.
About New Energy Risk:
New Energy Risk is a pioneer of large-scale, breakthrough technology performance insurance solutions. The company provides complex risk assessment and serves as a bridge between technology innovators, financiers, and insurers. Insurance policies are administered through New Energy Risk affiliate Complex Risk and Insurance Associates, LLC, CA License #0I24307. Learn more: newenergyrisk.com.
About Paragon:
Paragon Insurance Holdings, LLC, formed in 2014, writes all commercial lines of insurance across more than 20 programs. Paragon’s industry-specific and general underwriting facilities offer insureds, retail agents, carriers, reinsurers and service providers unique product, service, capability, and results. Learn more: paragoninsgroup.com.
About Yilkins:
Yilkins is a renewable technology company focused on the valorization of biomass and organic residues into renewable energy and valuable industrial and chemical products. Yilkins’ proprietary technology platform helps companies reduce their dependence on fossil fuels and lower the environmental impact of their industrial activities. Yilkins’ solutions offer high energy efficiency and cost-saving benefits, enabling the production of high-quality products from biomass residues. The company’s technology platform offers customized solutions in residue treatment, drying, torrefaction, and the production of high carbon containing products like biochar. Yilkins’ approach and technology provide the most profitable and sustainable drying and torrefaction technology, with low operational costs and energy consumption, and the lowest carbon footprint. For more information about Yilkins, visit www.yilkins.com.
Contacts
New Energy Risk
Shawn Langlois
EVP Communications
Paragon Insurance Holdings, LLC
slanglois@paragoninsgroup.com
(310) 989-4895
Yilkins
Business Development
Joris Spaan
j.spaan@yilkins.com
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