February 2, 2009

New BioCoal Plant Construction Starts

Energy Invest, the Belgian renewable energy company focused on valorising biomass into energy, announced today the start of a construction of the biomass torrefaction unit that will produce torrefied wood pellets (biocoal) for co-firing with pulverised coal in electricity generation facilities and charcoal for barbecue purposes.
The biomass torrefaction unit will be built in collaboration with Stramproy Green Technology, the Dutch-based engineering contractor and technology owner.
The total investment program launched by 4Energy Invest for the biomass torrefaction unit and a biomass storage platform results in capital expenditures of about 13 Million Euro. 9.3 Million Euro will be provided by the banks and the difference will be funded out of the proceeds that 4Energy Invest raised through its IPO in June 2008. 12 additional direct full time jobs will also be created.