GIMV invests in Biodiesel

22-06-2006 16:30

GIMV invests in the Belgian Biodiesel Holding. Through this investment GIMV also participates indirectly in Bioro (www.bioro.be), Biodiesel Holding's joint venture with international agricultural products group Cargill and Belgium’s Vanden Avenne Izegem. Bioro was set up with the intention of building a brand new state-of-the-art biodiesel plant in the port of Ghent.

Biodiesel Holding was founded in March 2005 by Lode Speleers, one of the pioneers of biodiesel in Belgium. Together with the international agricultural products group Cargill and Belgium’s Vanden Avenne Izegem, Biodiesel Holding set up the Bioro joint venture to build a new biodiesel plant with an annual production capacity of 200,000 tonnes. The new plant will be located next to the Rodenhuizedok in the port of Ghent (Belgium), excellently positioned both for bringing in raw materials (mainly colza) and transporting out finished biodiesel.

“Given our strong belief in the future and increasing use of biodiesel, we studied various projects in this sector. Bioro is the only project in Belgium that will both refine the colza into oil and convert it into biodiesel in a single production facility. This unique project is a textbook example of how to successfully attract foreign investments in combination with a major Belgian contribution in order to produce a promising joint project" says Kris Van Look, Executive Investment Manager GIMV, on GIMV's decision to join the Bioro project.

GIMV's investment in Biodiesel Holding is subject to obtaining sufficient quota from the Belgian government for producing biodiesel in Belgium. Bioro’s initiators are hoping for a speedy and favourable decision.

For further information, please contact:                                                                                                                                      
Mr. Frank De Leenheer – Investor Relations Manager GIMV
Tel: +32 3 290 22 18 – E-mail: frankdl@gimv.be                                                                                                                      
Mr. Kris Van Look – Executive Investment Manager GIMV
Tel: +32 3 290 21 17 – E-mail: krisvl@gimv.be

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