avis bml facility for 350.000mt
DESCRIPTION
Our project invite any experienced private placement capacity to join us. We are the best green energy project of the 21st Cycle! Our technology clean our planet for our kids of tomorrow! Renewable energy has a great future in the short term due to changing political and environmental landscape. Global warming is a reality the world cannot ignore but must actively contend with. Regenerating raw materials from plant-bound solar power is now an alternative to fossil energy. AVIS proprietary procedure of Biomass Liquefaction (Cold de-oiling= Conversion BML Procedure) allows the entire biomass & plastic to be used. The worldwide market demands for liquid fuels, such as heavy fuel, light fuel, diesel oil, and fuel for heat supplied from renewable resources, are now in serious competition with food production. Since AVIS waste management does not feed on food materials (corn, sugar, etc.) for its feedstock, its process and operations will not impact upon and compete with food production and demands. Simply what it does is to clean our planet from any household or light industry garbage.TRANSCRIPT
Synergy by combining Green and Energy
FOR THE DEVELOPMENT OF
1. 10.0 HA GLASS VENLO-TYPE GREENHOUSE
3. A 2000 LITER PER HOUR COLD CATALYTIC CONVERSION DIESEL PRODUCTION FACILITY BY THE CONVERSION OF BIOMASS TO SYNTHETIC DIESEL OIL TYPE EN 590. (BML)
PROPOSED BUDGET: 69.980M EURO
Investment Plan
2. 4,8 MW COGENERATING HEAT AND POWER UNIT (CHP)
3
Business Concept
Un-sorted Waste to Fuel
Biocomponents convert
into electricity by
Microbial Fuel Cell System
Controlled Environment
Agriculuture
MFC/PBR System
Location
1. 10 HA MODERN GREENHOUSE
The project
10 HA MODERN GREENHOUSE
• Dutch Venlo type Greenhouse
• Climate controlled
•
•
•
•
•
Artificial lightning to increase production
Reuse of water and fertilizers
Soilless, growing on Rockwool
Protected environment to control diseases
Integrated Pest management. Using biological
treatments against pests and diseases
Food safe production. Chemical residue free products.
Proven technology (4000 ha in The Netherlands only)
•
•
The Project
10 HA MODERN GREENHOUSE Without
Artificial
lightning GASA Plastic
Greenhouse Production Open field
Cluster Productivity kg /m2
Specialty Productivity kg/m2
85
48
55
32
25
15
1.5
x
• Of take agreements:
• Reputable companies in Greece (Retail) • EC Countries Importers • Russia
• Greece imports 50.000 ton tomato from the Netherlands only!
•Total imports 200.000 tons
• project produces 6.700 tons
The Project
10 HA MODERN GREENHOUSE
•
•
COMPETITIVE GASA
1.629.000
138.700
NW Europe
2.400.000
2.700.000
5.100.000
Labor Costs
Gas and electricity
Total 1.767.700
SAVING OF 3.3M EURO COMPARED TO THE NETHERLANDS
LOCAL COMPETITION
- AGRITEX ENERGY SA - 10 HA GREENHOUSE, THESSALONIKI AREA
- THERMOKIPIA DRAMAS SA – 10 HA GREENHOUSE, MACEDONIA AREA
- WONDERPLANT – 12 HA GREENHOUSE, MACEDONIA AREA
Competitive
Competitive
COMPETITIVE Note: Sales prices
source Recent Developments and
market opportunities for
IPM in greenhouse
tomatoes in southern
Europe LEI
Memorandum 12-077
September 2012
Project code
Greenhouse per m2 % Input Costs 29.83
4.61
37.4%
5.8% Overhead Costs 2275000311 LEI
Wageningen UR, The
Hague Netherlands))
Finance Costs 20.39 25.6%
Cost price without depreciation
Depreciation Costs
54.83
24.85 31.2%
Cost price per unit 79.68
Assumed return per unit
Assumed profit per unit 120.33
40.64 33.8%
The Project
2. 4.8MWEL COGENERATING
HEAT & POWER UNIT
•
•
•
Greece is a net importer of electricity
Current production facilities demands renewal
To support the Greek government imposed Fixed Sales price per MWhr to the
national grid (180Euro per MWHhel) when produced by CHP
• Benefits using CHP in this project
•
•
•
•
Zero pollution production of electricity
Thermal heat for greenhouse
CO2 as fertilizer for the plants in the greenhouse
Carbon Credits
The Project
4.8MWEL CHP UNIT
The Project
4.8MWEL CHP UNIT
Summary of support schemes
•Feed-in tariff. Law No. 3468/2006 sets rules for the guaranteed feed-in tariff. Plant
operators are contractually entitled against the grid operator/ electricity market operator to
the payment of electricity exported to the grid. The grid operator is obliged to enter into
these contracts. The amount of feed-in tariff varies for each electricity generation
technology. The support scheme based on regulation FEK 1079/2009 incentivizes
electricity generation by small PV installations (capacity of 10 kW or less) through a feed-
in tariff, which is deduced from the consumers’ electricity bill.
•Subsidy combined with tax exemption. RES-related projects come under the
provisions of Art. 6 of Law No.3098/2011 (General Investment Plans) and are thus eligible
for a combined subsidy and tax exemption scheme. PV is not eligible for that scheme.
Competitive
per MWElhr
Note: The savings of
delivery of the heat to
the greenhouse are not
taken into consideration
CHP %
Input Costs 83.46
14.05
50.5%
8.5% Overhead Costs
Finance Costs 49.48 30.0%
Cost price without depreciation
Depreciation Costs
146.99
18.20 11.0%
Cost price per unit 165.19
187.00
21.81 Assumed return per unit
Assumed profit per unit 11.7%
Investment Plan 3. A 2000 LITER PER HOUR BML DIESEL PRODUCTION
FACILITY
The Project
3. A 2000 LITER PER HOUR COLD CATALYTIC
CONVERSION DIESEL PRODUCTION FACILITY
(BML)
History
Process originally from Standard Oil USA and used in the 20’s
in the Ford Rouge Complex
In the 80’s SVZ in Germany started to use similar technology
for producing methanol for fuel cells for Mercedes Benz
Siemens Group decided that it is not part of their core
business and decided to sell the concept
Some of their engineers continued on own account to get the
Furth plant up and running and modified it to present ability to convert waste at 300 C using aluminum silicate
Process Principal
High-Tec solar hall
The need to change
•
•
THE RED LINE IS THE WORLD ENERGY OUTLOOK (WEO), FROM THE INTERNATIONAL ENERGY AGENCY (IEA), WHICH PREDICTS THE DEMA ND FOR OIL
WILL RISE FROM THE 85 MILLION BARRELS PER DAY (MB/D) RANGE TO NEARLY 120 MB/D AROUND 2030. THIS IS THE FUNDAMENTAL DISCONNECT: A PROJECTED DEMAND BY CONSUMERS OF 120 MB/D AND A PROJECTED SUPPLY BY THE PRODUCE RS OF
ONLY 1/3 OF THAT AMOUNT.
THIS MEANS THAT IN YEAR 2030 2/3 OF THE FOSSIL FUEL DEMAND HAS TO BE COVERED BY NEW FUELS THAT WE DO NOT HAVE TODAY
Control & Manage Conversion Production
Control
Central
Management
Low temperature
catalytic
Continuous Continuous business
Process Monitoring production process
conversion
No pyrolysis
Remote
Business Process
management
Automated fuel
adaptation
No dioxins and
Furans
Quality Management
(ISO – EN –etc.)
Remote support
management
German / Dutch
Quality – GASA
Know How
High quality
System delivers:
Long life cycle
Low maintenance
cost
High synthetic
diesel conversion
efficiency
No sulfur or other contaminates in the
end product!
Greenhouse Gases
ZERO TOXIC PRODUCTION
Project delivers 1. 0% NITROUS OXIDE
2. 0% METHANE - Sulfur free Diesel
- CO2 for Greenhouse plant fertilizer - fertilizers for agro industry
- toxic free road fill 3. 0% FLUORINATED GASSES
4. 0% DIOXINS AND FURANS
5. 0% NITRIC ACIDS
6. 0% SULFUR
Base material different from crude oil
Competitive
BML per L % Note: Prices based
on ex refinery calculations and excluded tax relieve
(20%) for biodiesel.
Input Costs 0.21
0.07
0.20
0.48
0.13
0.61
0.86
35.2%
10.8%
33.2%
Overhead Costs
Finance Costs
Cost price without depreciation
Depreciation Costs 20.8%
Cost price per unit
Assumed return per unit
Assumed profit per unit 0.26 29.8%
A Unique Concept
EACH UNIT CONTRIBUTES TO
COST REDUCTION OF THE OTHER
PRODUCT PRODUCER -> CONSUMER -> PRODUCING
_______________________________________________________________________
CO2 CHP & BML -> 100% GREENHOUSE -> HIGHER YIELD
_______________________________________________________________________
THERMAL WASTE
HEAT CHP & BML -> 100% GREENHOUSE -> HIGHER YIELD
_______________________________________________________________________
GREEN WASTE GREENHOUSE -> BML -> DIESEL
___ _BIOMASS ______________________________________________________________
COMBUSTIBLE
WASTE GAS BML -> CHP -> ELECTRICITY
A Unique Concept
SYNERGY COST SAVING
1. GREENHOUSE SAVES COMPARING TO TRADITIONAL OPERATIONS 1.8 M EURO ON ENERGY BILL AND CO2 BY USING CHP
2. CHP USE OPTIMIZATION, WASTE HEAT DOESN’T NEED TO BE BLOWN OF = ELECTRICAL POWER = REVENUE SAVING APPROX 200K
3. BML UNIT PRODUCES BESIDES TO DIESEL GAS FOR THE CHP ENGINES SAVING COSTS FOR THE GAS BILL OF CHP I.E. SAVING 900K
TOTAL SYNERGY SAVINGS 2.9 M EURO ANNUALLY
A Unique Concept
• The project has: • 141 FTE’s
• 69.98M Euro Investment
• Diesel produced can be defined as Biodiesel and could receive incentives
• Carbon credits, all CO2 produced consumed by the greenhouse operations
• Investments 100% financed by AVIS Infrastructure Fund
Fix biannual leas rate with 10 year term
Secured by project pledge and Collateral
A Unique Concept
ENVIRONMENT
1. GREENHOUSE +/- 1% OF USE OF CHEMICAL PESTICIDES COMPARED TO TRADITIONAL GREENHOUSES. INTEGRATED PEST MANAGEMENT SYSTEMS AND FULL HACCP
2. CHP NO CO2 BLOWN IN THE ENVIRONMENT AS IT GETS CONSUMED BY PLANTS IN THE GREENHOUSE
3. BML NON FOOD-PRODUCTION COMPETING RAW MATERIALS. INPUT CAN BE ANY TYPE OF CELLULOSES CONTAINING WASTE, LIGNITE, WASTE PLASTICS ETC.
4. Biocomponents convert into electricity by Microbial Fuel Cell System
Cost of Investment
Cost Sub total € %
A. Buildings 1,450,000 2.1%
48.5%
32.0%
9.8%
0.9%
2.1%
3.5%
1.1%
B. Greenhouse Unit 33,960,000
22,400,000
6,880,000
600,000
C. CCC Mechanical and Electrical Installations
D. CHP
E. Land
F. Infrastructure 1,450,000
2,484,000
756,000
G. Studies, Licenses & Insurance
H. Other Expenses Incl project management
Total € 69,980,000 100.0%
Financing
100% AVIS Infrastructure Fund Lease finance
Value of Lease including Collateral € 130.000.000,00
Lease rate for 10 years € 5.200.000,00
Capital pay-out by project start € 70.000.000,00
Lease rate payment interval biannual
Security first ranking pledge
Overall risk coverage Marsh McLennan
Depreciation Percentage per
Tangible assets Years Depreciation year
6.7%
6.7%
6.7%
6.7%
0.0%
6.7%
0.0%
2016
96,667
4,528,000
1,493,333
458,667
-
A. Industrial Building for BML
B. Greenhouse Unit
15
15
15
15
-
C. BML Mechanical and Electrical Installations
D. CHP
E. Land
F. Infrastructure 15
-
96,667
6,673,333 Total Depreciation tangible Assets
Years Depreciation
Percentage per year Intangible Assets 2016
G. Studies, Licences & Insurance
H. Other Expenses Incl project management
Total Depreciation Intangible Assets
5
5
20.0%
20.0%
0.0%
496,800
151,200
648,000
Discussion of Costs Direct Input Cost per year
Annual Gas Cost
Annual Electr. Cost
Annual Labor Cost
Biomass Cost
2016 Overhead Expenses 2016
2,488,320 General manager 167,504
101,959
58,262
18,935
485,450 Enginering
1,694,812 Accountant
2,036,700 General Manager Assistant
Catalisator 403,267
Liscenses 1,255,000
- Greenhouse input
Waste removal
Total
Financial auditting Monthly Cost 61,101
48,000
General Expenses 8,424,649
60,000
Insurance cost 1,201,200
1,655,861 Production Cost Analysis
Annual Labor Cost
2016 Total
1,694,812 Total project running costs:
Maintenance Expenses 992,100 12,767,422 with estimated
annual increase of 2%
Turnover
Total Project turnover
Greenhouse
Electricity
BML
Yearly
13,009,989
6,683,530
13,400,790
33,094,308 Total
16,000,000
14,000,000
12,000,000
10,000,000
8,000,000
6,000,000
4,000,000
2,000,000
-
Greenhouse
Electricity
BML
2016 2017 2018
P & L 2015 2016 2017 2018 2019
Total Turnover 26,511,218
18,842,844
N/a
33,094,308
22,936,236
21,675,036
21,587,986
14,266,653
33,753,920
23,258,485
21,997,285
19,727,012
9,437,597
33,975,212
23,431,267
22,170,067
19,334,515
7,893,189
34,665,323
24,071,898
22,810,698
20,129,605
8,532,331
Net Operating Profit
EBITDA
Net Profit Before Tax & Depreciation
Net Profit Before Tax
18,046,083
13,669,417
Profit & Loss Account 40,000,000
Total Turnover
Note:
10 year lease of
€2.600.000,00 fix
rate each 6 months
35,000,000
30,000,000
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
-
Net Operating Profit
Net Profit Before Tax & Depreciation
Net Profit Before Tax
Profit Distribution Profit Distribution 2015 2016 2017 2018 2019
NET PROFIT BEFORE TAX 13,669,417 14,266,653 9,437,597 7,893,189 8,532,331
(+ or -) Transfer of previous fiscal year
Income Tax percentages to be payed
-
22%
10,662,145
22%
43,275,862
22%
50,637,188
22%
56,793,876
22%
MINUS: income tax
PROFIT TO BE DISTRIBUTED
1. Regural reserves
3,007,272 6,145,935
18,782,862
-
2,076,271 1,736,502 1,877,113
10,662,145 50,637,188 56,793,876 63,449,094
- - - -
2. Other reserves - 24,493,000
-
- - -
3. Dividends Payable - - - -
4. Transfer to next fiscal year 10,662,145 43,275,862 50,637,188 56,793,876 63,449,094
Note: Other reserves is the potential income for the grants
Profit Distribution Financial ratios
I. Profitability Ratios
Gross Profit Margin
Net Profit Margin
II. Liquidity Ratios
Current Ratio
2015 2016 2017 2018
IRR=
17.01% 72.5%
51.6%
70.5%
43.1%
71.0%
28.0%
71.0%
23.2%
26.97
25.44
24.99
72.45
70.88
70.45
81.70
80.13
79.70
91.50
89.93
89.50
Acid Test Ratio
Cash Ratio
III. Efficiency Ratios
Days in Inventory 44.86 45.46
3.60
0.29
46.14
3.60
0.29
46.24
3.60
0.29
Receivables Average 3.60
0.32 Assets turnover
IV. Financial Structure & Viability Ratios
Bank Loans to Equity
Interest coverage ratio
Sales Revenue Per Employer
7.12
n/a
1.83 1.48
10.08
239,390
1.25
8.07
240,959
n/a
188,023 234,711
Equity to Fixed Assets 0.16
0.93
15,145,453
10,662,145
92,490,844
19,908,762
134,096,406
0.73 0.97 1.24
Total Debt to total Assets
Net Working Capital
ROE
ROA
Free Cash flow
Quick ratio
0.69
55,284,271
43,275,862
158,609,514
58,870,344
138,309,914
0.64
63,455,143
50,637,188
167,329,687
73,024,931
142,350,548
0.60
71,610,089
56,793,876
174,821,750
85,993,748
146,585,377
Investment Planning Payments 20% 35% 35% 10%
Oct Nov Dec Jan Feb Mar April May Jun
A. Industrial Building for BML
B. Greenhouse Unit
290,000.00
6,792,000.00
4,480,000.00
- 507,500.00 -
-
-
-
- 507,500.00 -
-
-
-
-
-
-
-
145,000.00
3,396,000.00
2,240,000.00
688,000.00
- 11,886,000.00
- 7,840,000.00
- 11,886,000.00
- 7,840,000.00
- 2,408,000.00
C. BML Mechanical and Electrical Installations
D. CHP
E. Land
1,376,000.00
600,000.00
- 2,408,000.00
-
F. Infrastructure 290,000.00
496,800.00
- 507,500.00
869,400.00
264,600.00
24,283,000.00
-
-
-
-
507,500.00
869,400.00
-
-
-
-
145,000.00
248,400.00
264,600.00
7,127,000.00
G. Studies, Licences & Insurance
H. Other Expenses Incl project management
Total
151,200.00 264,600.00
14,476,000.00 24,283,000.00
Proposed Constructors
1. Greenhouse • Dalsem Greenhouses BV Netherlands
• WWW. DALSEM.NL
2. CHP • Caterpillar Europe
• Caterpillar.com
3. BML • Green Alliance with AVIS Energy • Prof. Werner Rammensee • Rhein Ruhr International GmbH Germany
Risk Assessment 1. Greenhouse
• Risk of diseases • Integrated Pest Management • Biological Control • Statistical control measurements • Computerized pest identification system (PRIVA)
• Risk Of Natural forces damaging greenhouse and crops • Insurance Marsh McLennan
• Risk of oversupply market • Export to surrounding countries and Russia • Cost price below average costs in Netherlands
Risk Assessment
2. CHP
• Risk break down
• Maintenance contract 24/7 Caterpillar
• Risk Of Natural Gas closure • Able to run on own produced Diesel as well
• Risk not able to sell electrical power • Reduce/ switch of and use electrical power for
artificial lightning
• Risk coverage • Marsh McLennan provide overall Insurance wrap for any Risk event including non-performance.
Risk Assessment
3. BML
• Risk break down
• Maintenance and service contract 24/7 • System is build to last and requires little to none
maintenance
• Risk of natural disasters and fire • Insurance • Environmental impact limited through spillage
facilities • System can be switched on and of with “one click”
Summary - Investment of 69.98M Euro
Synergy
by
combining
green and
Energy
- - -
14.4M Liter Synthetic Diesel 4.8MWel Electrical Power 8.500 (mix aver:6.000) tons of fresh tomatoes
-
-
-
Turnover 33M Euro
Costs 13M Euro
Synergy between the individual projects - Synergy cost saving 2.9M Euro/year!
-
-
-
-
-
EBITDA 21M Euro
Break Even 16M
IRR 17%
Self sustainable cash flow
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