DART Energy International has secured a new $100 million (£63m) banking facility with HSBC to move its power generation projects forward.

The Australian company said it will use the cash on a number of sites including its coal bed methane (CBM) development at Airth in Scotland.

Other CBM projects to benefit from the deal include Liulin in China and Sangatta West in Indonesia.

Dart is receiving $10m of capital to draw on from September with the remaining $90m available over a two-year period.

John McGoldrick, chief executive of Dart Energy International, believes the funding equates to a vote of confidence in Dart's unconventional gas strategy.

He said: "We are delighted to have successfully finalised this facility from HSBC, which we believe to be the first reserve based lending for development of CBM projects in Europe or Asia.

"It follows extensive technical and commercial due diligence by HSBC on Dart's projects. The facility is on attractive terms, providing us with access to development funding for multiple projects.

"This allows us to further build on our efforts to rapidly bring these projects into production.

"It is great support for the work we have been doing, and for the future development of Dart Energy."

In July, Dart, which has its European headquarters in Stirling, revealed it had produced the first electricity from natural gas recovered from within coal seams in Scotland.

It hopes to produce up to one million standard cubic feet of gas a day at peak production.

A deal to supply 11 billion cubic feet of gas for up to eight years to utility giant SSE has been signed with delivery due to begin in April next year.

The UK Department of Energy and Climate Change has given the go-ahead for development consent and updated technical plans are expected to be approved.