Peter Turner is officially launching Grofuel from a base in Charter Avenue that will sell stoves and heating systems which run off wood pellets, to both the domestic and business market.
The company will also import and sell the pellets and has already signed up 60 business customers to purchase the fuel ahead of the launch on Friday, August 26.
Grofuel, which has been given help and advice from the Coventry and Warwickshire Chamber of Commerce, will create around 12 new jobs to begin with include installation, office and sales staff.
Peter, who imports the stoves and heating systems from Italy and Austria, said: “I have studied future fuels in Spain and worked with universities in Sheffield, Hull and Derby to develop a break system for wind turbines that was patented.
“I don’t think the UK – and this region particularly – has really grasped renewables as much as it can and I really believe this can help Coventry become a greener city.
“We are working with a lot of partners in the city and the aim is to achieve a real step change by 2020.
“Not only that, we are creating jobs and investing in the area – we believe this can be a real success story.”
Firms and individuals can also benefit from the Renewable Heat Incentive which will reduce the cost of the system.
Peter said: “The target market is any person or company that generates heat – we are getting to the time of year when people are looking to purchase items such as patio heaters and we supply those too.
“The cost-saving on the systems generally is significant – up to 70 per cent against gas and 40 per cent against oil.”
The open event on August 26 will run from 2pm until 5pm and all are welcome.
Click the link below to sign up for daily regional business updates