Environmental Investment Partners is a venture capital fund established in 1998. It invests in environmental companies in central Europe (Polish, Czech, Hungarian etc.) or western companies doing business there.
Since 1998, EIP bought shares in eight companies, including three Polish, two Hungarian, one Romanian, one Slovakian and one Czech firm. Total investments and commitments to these companies exceed 20 million Euro, more than 60% of the 32 million Euro capital of the Fund. EIP's ownership in these enterprises varies from 4% to 49% of the equity capital.
List of EIP's investments:
Company Business, EIP's share, Country
Prochem S.A. Cleaner production ,Engineering, Construction 11% Poland
Finesco S.A. Financial, Energy Savings 49% Poland
Fardis N.V. Recycled/Biodegradable plastic film manufacturing 4% Belgium*
Korte Kft. Engineering (wastewater), Environmental services (wastewater and solid wastes) 27% Hungary
Organica Kft. Engineering (wastewater) 45% Hungary
GazVest Gas distribution 49% Romania
Detox Engineering (hazardous chemicals and waste) 49% Slovakia
Praterm S.A. Heating plants 49% Poland
*Investment in the Czech subsidiary through the Belgian parent company.
The Fund's first Investment, Prochem S.A., is a company listed on the Warsaw Stock Exchange. It is an engineering firm designing cleaner production facilities, as well as sewage treatment plants. EIP intends to help Prochem develop new products such as operating services.
The second Polish investment, Finesco S.A., was founded jointly with PBK Investments, Prochem and the Polish Power Grid Company to finance energy efficiency modernization. The financial products developed by Finesco are based on planned energy savings, resulting from the modernization. This investment was EIP's response to requests for direct financing of municipal projects in the Central Europe. EIP committed to Finesco 3.3 million Euro and expects to be a ca. 30% shareholder after all commitments are turned into investments.
The Czech project, Fardis, is a manufacturer of bags and packaging film made to a large extent of recycled or bio-degradable raw material. The Czech firm is a subsidiary of Fardem NV., a publicly traded Belgian company leading in this market. EIP invested in the Czech project through a capital increase at the parent company.
The two Hungarian investments were finalized at the close of 1999. Korte Kft., established in late-1980-ies as a private company, is Hungary's leader in industrial wastewater engineering and operation, as well as other environmental services. EIP intends to help the company grow internationally as well as enter into new service areas.
Organica Kft, is a young firm, established three years ago in Hungary, to implement a very efficient and cost competitive technology for biological treatment of municipal and industrial wastewater originally developed in America.
Detox is the leading source of treatment technologies for hazardous chemicals and wastes in Slovakia. Most international firms are its customers and it operates Slovakias only 24-hour emergency response team.
GazVest is Romanias first private gas distribution company operating in western Romania. The Funds investment will allow it to expand supply to additional 20 towns.
The third Polish investment, Praterm S.A., is a leading district heating modernization and operating company. Currently, it owns 8 district heating plants in Poland.
The Fund's vision is to develop their investees to become regional leaders in the environmental business and be able to offer the best possible solutions to fulfill the EU environmental obligations. EIP operates in all previously mentioned countries plus Romania, Slovakia, Bulgaria, the Baltics and Slovenia.
