RVC Seed Fund together with Scientific integration Company and two private investors (attracted via IPOboard online trading system) signed an agreement on financing of the WiseSoil project. The total amount of the investments in the project is 20 million rubles.
WiseSoil is a technology of biomass preparation for processing in biogas units. This technology is characterized by a high energetic and economical efficiency. The project addresses the problems of organics recycling and recovery of the fertile soil layer of agricultural lands.
WiseSoil became the first project-participant of GenerationS federal accelerator competition to receive the fund's investment with RVC capital.
"All finalists of GenerationS Cleantech-track for the projects in the field of energy efficiency and "green" technologies were highly evaluated by the experts and have got offers from the investors, - says Gulnara Bikkulova, Director of RVC Innovation Markets Department. - We are happy that the first transaction involved the participation of RVC Seed Fund and we hope that the team together with the investors will manage to unlock the whole potential of WiseSoil project".
The module of biomass preparation for biogas units is in the basis of WiseSoil technology. A usual biogas unit is characterized by a low reactors' capacity and a long period of raw materials fermentation - from 10 to 60 days, as well as by a low level of scavenging - biogas. Installation of the module of biomass preparation for biogas units both increases the biogas output and accelerates the raw material processing in the reactor, which increases the profitability of biogas units. The consumers of the WiseSoil module of biomass preparation are manufacturers and owners of the biogas units. EU, the US, as well as Russia and the CIS are among the priority markets. In the US, there are more than 200 biogas units and more than 5.000 in Europe. The market volume in monetary terms is up to 1 billion euros, the market growth rate is no less than 10% a year.
Andrey Smotritskiy, one of the WiseSoil technology developers, noted: "The project team is happy that they managed to form a group of investors interested in such technology creation. The group consists of private investors who have technological capabilities to be used at the stage of full-scale system's production, as well as RVC Seed Fund which provides the biggest part of financing."
RVC Seed Fund investments will be aimed at implementation of the first project part - R&D completion, WiseSoil device test performance, manufacture and certification of the industrial sample followed by the purchase of equipment, industrial organization, commercialisation and the product's launch.
To date, negotiations were held with more than 30 potential customers - manufacturers and operators of biogas units. WiseSoil technology have already been tested on a biogas unit in Orenburg. In the near future tests will be carried out on the units in the Czech Republic and Finland. The first sales are scheduled for late 2015.