Co-operation plans with the MVM ESCO Inc.

At the beginning of the year, Profikomp Environmental Technologies Inc. and MVM ESCO Inc. signed a forward-looking letter of intent on the joint development and installation of municipal bio-waste composting and biogas plants.

During the cooperation the two companies wish to promote the innovative utilization of biowaste generated by households or companies. In the course of the agreement, MVM ESCO Inc. – in cooperation with local governments and waste management companies -, intends to build and operate biogas production facilities utilizing biowaste to be collected by the settlements. Profikomp – as a company recognized at European level in biowaste management – provides professional and scientific assistance for the implementation.

By signing the letter of intent, the parties also expressed their intention that results, achieved by Profikomp with the ongoing biogas pilot project at the Gödöllő Campus of the Hungarian University of Agricultural and Life Sciences (formerly Szent István University) will be evaluated, and the innovation project will be continued jointly. According to the plans, here will be built the first Hungarian small biogas power plant based on dry fermentation.

The parties also expressed their commitment that the composting process to be established and the market utilization of the facilities to be implemented should serve the implementation of Hungary’s waste management and environmental protection goals.

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