THE company behind a mothballed £250m refinery says it has overcome the plant’s enforced standstill to post excellent financial results.

CropEnergies AG says difficulties with the Ensus bioenthanol plant, in Wilton, near Redcar, has not checked its progress.

Work was postponed at Ensus last year when the sluggish oil price compounded plummeting bioethanol values.

However, bosses yesterday (Tuesday, May 17) revealed they will start trial runs at the factory in the coming weeks after market conditions improved.

Allied to those plans, the firm has now revealed its annual results, covering the 12 months to February 29, which said while revenues had fallen due to reduced production, better bioethanol prices pushed earnings before interest, taxes, depreciation and amortization from £19m to £94m.

Operating profit stood at £67m, from losses of about £8m a year ago.

A spokesman added: “As one of the leading producers in Europe and due to the flexibility and capacity of our plants, we are well positioned for the corresponding increase in demand.”

Ensus uses wheat to create bioethanol, which is added to petrol.

The remaining protein and grain is used to make thousands of tonnes of animal feed and carbon dioxide for the soft drinks and food market every year.

But the site has endured a difficult history, with low demand, poor harvests, rising energy costs and even a bad smell forcing postponements and hindering production since it started in 2010.

The base has been temporarily closed since February last year and a number of its 100-strong team were previously let go amid the uncertainty.

However, CropEnergies says it is now ready to restart work, with bosses saying new technical modifications will improve the factory’s reliability.