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International Group of Companies “NIAR” had acquired major stake of Bio Eco Energy Company

Zagreb, July 31, 2020 – Bio Eco Energy Company d.o.o. (BEECO), a sustainable and innovative Croatian agricultural company, specialized in propagation and distribution of Miscanthus Giganteus, a dedicated biomass crop, today announced that the majority of its shares were acquired by International Group of Companies “NIAR” (NIAR).

NIAR‘s acquisition of 65% shares of BEECO along with the commitment to invest into further development of the company will strengthen BEECO’s ambitious growth capabilities. Main focus will be put into developing BEECO‘s biomass feedstock production and sustainable feedstock supply chain which is required to secure Europe‘s circular economy’s high demands. Miscanthus Giganteus is one of the most recognized “high-yield” crops for biomass production which can ensure a development of the EU’s bioeconomy in line with the EU’s goals and directives. This acqusition brings an enhanced value to BEECO and its current and future partners“ said Mr. Klaus Holzinger, Business Development Director and Procurator of „Green Biomass Energy d.o.o.“ (GBE)GBE holds 25% of shares and serves as the Managing Partner of BEECO since the company has been founded in 2016.

BEECO commercially produces elite planting material of Miscanthus Giganteus and established one of the biggest Miscanthus giganteus (clone Illinois) nursery plantation in EU.

“Every rhizome that we produce comes with known and confirmed by SGS reports genetical origination and generation, followed by all necessary protocolled steps in production. From in vitro to ex vitro adaptation of the plant under controlled environment conditions, re-planting outdoors on our irrigated nursery plantations, to extraction of the high-quality elite planting material in commercial volumes, the whole production chain is under our control” – said Mr. Sergii Chabannyi, CEO of BEECO.

International Group of Companies “NIAR” (NIAR)  was founded in 2014, specialized in financial and investment projects in Eastern Europe & Asia and is working in the field of industrial development as well as the alternative energy and agro-industrial sector with focus on environmentally friendly “green”  technologies. Within the last five years NIAR developed solar plants with 240 MW total power in Ukraine. Currently NIAR is concluding several biomass processing and waste utilization projects in Eastern Europe.

“Feedstock is one of the largest expenses for any biomass processing facility, thus this cost driver is a key input to ensure an adequate return on the biomass project’s investment. To have a bankable project, it is necessary to have unified feedstock in sufficient volume to assure the feasibility of the project. Evidently, there is a need for a go-to entity that can provide a turnkey solution for a sustainable biomass feedstock chain establishment. The acquisition of BEECO will allow us to further diversify our investment portfolio and secure “in bulk” supply of high-quality Miscanthus Giganteus planting material for our own biomass projects. In three years, we will be able to establish up to 50 000 hectares of commercial biomass plantations in Eastern Europe. We have great confidence in our investment.” said Mrs. Anna Novykova CEO & Managing Partner of International Group of Companies “NIAR”.

“Miscanthus Giganteus is a unique plant,  its ability to grow on marginal lands, its water efficiency, non-invasiveness, low fertilizer needs, significant carbon sequestration and high biomass yield  makes this plant an “ideal” biomass crop.“ said Mr. Roman Ilchenko Co-Founder and Managing Partner of International Group of Companies “NIAR”.  “BEECO has a high expertise and an amazing track of records with Miscanthus propagation and biomass plantations establishment. Known origination of the planting material confirmed by “SGS” traceability inspection reports is making BEECO’s rhizomes unique and leading on the EU market. We are very satisfied with our deal!”  highlighted Mr. Roman Ilchenko.

Photo: Anna Novykova CEO & Managing Partner and Mr. Roman Ilchenko Co-Founder and Managing Partner of International Group of Companies “NIAR” at one of Miscanthus Giganteus fields (BEECO nursery plantations, Popovaca, Croatia).