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BankInvest’s venture fund BI New Energy Solutions, has sold all shares in the company BioGasol - which has developed a breakthrough 2nd generation bio-ethanol technology - to Fjord Capital Partners
BioGasol’s ethanol project was in 2009 awarded a financial grant from EUDP/Danish Ministry of Energy and in the coming year is transitioning into a commercial phase.
Fjord, a global private equity firm with exclusive focus on clean energy has invested a significant amount to recapitalize BioGasol which ensures that BioGasol can continue its plans with its 2nd Generation Bio Ethanol project supported by the EUDP grant.
"We invest in companies that have proven technologies and are on the verge of commercialization. BioGasol, with a superb team, is a world leader in its field. Having successfully operated its cellulosic ethanol pilot plant for over 4 years, it is ready for scale up, which our investment will ensure. The Fjord principals' network will bring major value," says Michael Obermayer, Managing Partner at Fjord Capital Partners.
“BioGasol has a reached a stage in its development where it is natural for a long term investor to step in. In Fjord Capital Partners, we found the right investor, who can further develop the company and its projects through adding industrial knowledge and capital. Also, BI New Solutions, the initial investor in the company is in its exit phase, when the fund realises its investments,” says Jens Christian Mathiesen, Chairman of BioGasol and Partner in the management company of BI New Energy Solutions.
About BioGasol:
BioGasol ApS is a Danish company founded in January 2006. The company has developed a technology concept within lignocellulosic bio-fuels also known as 2nd generation bio-ethanol. The technology is based upon extensive research and development work since 1994. BioGasol is a technology and equipment supplier on the transition between proven technology and commercialization. The solutions are cost effective and sustainable to the environment and have been successfully proven in a pilot plant since August 2006. Today the company has 20 employees.
Contact person:
Anders Weber, CEO at Biogasol
+45 27614850
About Fjord Capital Partners:
Fjord focuses exclusively on growth companies in renewable energy and energy efficiency. It was established in 2007 by Michael Obermayer, Arild Nerdrum and Xavier de La Rochefoucauld. Michael is a Senior Partner Emeritus of McKinsey & Co., where amongst others he lead McKinsey's practices in Oslo and Stockholm. Other Fjord investments include: Carbon Limits, a carbon developer working with oil & gas companies to reduce gas flaring; Tesla Motors, the world's first all electric production car manufacturer; and Iberwind, the largest Portuguese Wind developer with 700 MW in operation.
Contact person:
Michael Obermayer
+45 2761 4856
For more information:
About BankInvest:
BankInvest is a leading asset manager and provider of investment funds in the Nordic region with a total asset under management of DKK 147 billion. BankInvest was established in 1969 and is owned by 50 local and regional Danish banks. BankInvest manages listed securities for both institutional and retail investors as well as private equity and venture capital funds including New Energy Solutions fund I +II.
Contact persons:
Jens Christian Mathiesen
+45 40459183
Dag Holmstad
Head of Corporate Communications
+45 2425 6081
For more information:
www.biventure.dk
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