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Nexus Ventures Inc. help fund bioethanol plant

04-07-2010 10:00 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Nexus Ventures Inc

Nexus Ventures Inc has helped funded a bioethanol plant located in Aglona, country of Latvia. The plant is expected to be completed in the first quarter of 2011 and have a maximum capacity of 150,000 cubic meters of bioethanol per annum. In addition, the project is designed with a potential extension option which will allow the plant to double production capacity to 300,000 cbm pa.

Latvia is an EU member state with competitive features for the production of biofuels due to advantageous crop growing conditions, low labor costs and close location to European end markets. From a logistical perspective, the site in Aglona is well serviced by railway and road links to the port of Riga. In addition, supplies could be delivered directly through a railway connection from countries such as Estonia, Belarus, Russia, Ukraine and Kazakhstan.

The Nexus Venture funded company intends to use wheat at a start-up stage and then adapt a triticale, a hybrid cereal. Agriculture accounts for a relatively large share of the Latvian economy in terms of both GDP and employment. The annual wheat production in year end 2008 reached 3.2 million tons pa and in 2009 it is estimated to have reached 3.6 million tons pa. The average prices for wheat in Latvia is lower compared to traditional European market prices which will allow the company's product to be more competitive. Triticale is a grain mainly used for animal feeding: it does not therefore enter in competition with the human food industry. By using tritcale, the plant expects to further reduce its production costs, equaling substantially higher investor returns than the average early stage biofuels investment opportunity.

In venture capital, it often comes down to people and innovative ideas and the chemistry between these two key points. While each experienced Nexus Venturess partner brings a unique set of skills, we share a common set of core values. These are the values we stir our company by. At Nexus Ventures we have a passion for technology and we belief in the power of a true team approach. And above all, a deep respect for the entrepreneur and the entrepreneurial process.

Nexus Ventures Inc.
33 Cavendish Square, 8th Floor
London
W1G 0PW
United Kingdom

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