In the past two years, BioMCN has converted a Dutch methanol-production unit to run on biogas made from crude glycerine, rather than the usual natural-gas feedstock. The latest EU Renewable Energy Directive declares crude glycerine a second-generation biofuel feedstock, which means it reduces greenhouse gas emissions while not competing with food production. The Û36m marks Waterland's second investment in sustainable energy in March - it also invested in Belgian solar company Enfinity.