Press Notice by Bioro: 22 Juni 2006 Stadhuis Gent
Pressnotice in PDF format
Ghent, 22 June 2006 - Biodiesel is one of GIMV's new investment areas. The leading venture capital fund is taking a stake in Belgian Biodiesel Holding and thus also indirectly in Bioro, the joint venture between Biodiesel Holding, Cargill and Vanden Avenne Izegem. GIMV's involvement confirms the potential of Bioro and brings the producer a step closer to the creation of a state-of-the-art biodiesel plant in the port of Ghent.
In March 2005 Lode Speleers, the pioneer of biodiesel in Belgium, took the initiative in setting up Bioro. At the beginning of this year Bioro became a joint venture between Biodiesel Holding, Cargill and Vanden Avenne Izegem. Bioro intends to build a brand new biodiesel plant with an annual production capacity of 200,000 tons. The new plant is to be sited at the Rodenhuizedok in the port of Ghent, an exceptional location for both supplies of raw materials (primarily coleseed) and the distribution of the biodiesel produced.
Prime example:
Lode Speleers has succeeded in bringing foreign investors, a major venture capital fund and Belgian companies behind a common project. Lode Speleers, the managing director of Biodiesel Holding, on the recent investment: "We have held talks with various venture capital funds and made a very conscious decision to go with GIMV because it is a leading and Belgian investment company. GIMV also showed the most enthusiasm for our renewable energy project." Kris Van Look, GIMV Executive Investment Manager, adds: "Since we strongly believe in the future and the increasing use of biodiesel we have studied various projects in this sector. Bioro is the only project in Belgium where coleseed will be processed into biodiesel on a single site. It is a unique project that is also a prime example of how to successfully attract foreign investments in combination with a significant Belgian input in order to develop a promising shared project". Lode Speleers concludes: "The investment by GIMV and the other partners stands or falls with the provision of an adequate quota by the federal government to make it possible to produce biodiesel in Belgium. We hope to see a favourable and speedy decision in this regard".
For more information please contact:
Lode Speleers, Bioro nv,
tel. +32 484 40 13 57,
lode.speleers@bioro.be
of
Sybil Van Torre, Cantilis,
tel +32 9 329 50 56,
Fax +32 498 86 72 00,
svantorre@cantilis.be