26 April 2006

Irish Bioenergy Firm Invests 37M Euros in German Biodiesel Plant

Bioverda, the bioenergy division of NTR plc, today (24th April 2006) announced the acquisition of Irish Power Systems (IPS) previously co-owned by the ESB and Electric Power Controllers. The acquisition, which values the entire business at euros 38 million, will confirm Bioverda as the leading supplier of electricity generated from landfill gas in Ireland.

IPS currently has total installed electrical power generating capacity of 22 MW’s utilising gas from landfill to generate electricity for supply to the national grid.

“The acquisition of Irish Power Systems has come at an ideal time for Bioverda as we develop our bioenergy business,” said John Mullins, Chief Executive, Bioverda. “The conversion of methane sourced at landfill to electricity is a very efficient means of providing much needed green energy to the Irish market.”

In addition to the acquisition of IPS, Bioverda has today announced an investment of euros 37 million in a new biodiesel facility in Ebeleben, Thuringen in Germany, through its subsidiary, Emerald Biodiesel GmBH. This is the second such Bioverda facility in Germany, having previously announced the construction of a similar facility in Neubrandenburg.

The integrated oil-mill and biodiesel production facility, which will have an output capacity of 110 millions of litres of biodiesel from rapeseed annually, will commence production in the first quarter of 2007. Locally grown rapeseed will be used as the primary raw material, supplied under a long-term contract with the regionÌs leading agricultural co-operative.

The biodiesel produced will be sold into the German transport market.

“Ebeleben is the second of a series of projects currently being pursued by Emerald Biodiesel in Europe. Our two plants in Germany, which will have a combined annual production capacity of 160 million litres, will provide Bioverda with significant market share in the largest biodiesel market in Europe,” said John Mullins.

Bioverda, the bioenergy division of NTR plc, is involved in business in methane, biogas and biofuel and responds to a rising demand for renewable energy sources. Bioverda will focus on three key areas of activity: Methane (landfill gas and coal mine methane),) Biofuels (biodiesel and bioethanol).and Biogas (liquid waste to energy.

NTR plc is a leading developer and operator of sustainable solutions in renewable energy (Airtricity), bioenergy (Bioverda) and recycling led waste management (Greenstar). The company also has interest in roads (National Toll Roads and Celtic Roads Group), water (Celtic Anglican Water) and broadband telecommunications (Irish Broadband).

Source: soyatech.com April 25, 2006.

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