The USA/Ukraine Joint Venture looks to establish a sustainable source of bioenergy fuel in Ukraine / Photo from ukraineagrovalley.com
U.S.-registered Ukraine Agro Valley Association (UAVA) plans to build up five biomass pelletizing factories in Odesa region, which will enable to heat public and private buildings with the use of alternative energy sources, the company's press service said referring to UAVA's Chief Science Officer Maksym Melnychuk.
The total value of this undertaking could range up to $100 million, Melnychuk said.
"This USA/Ukraine Joint Venture looks to establish a sustainable source of bioenergy fuel in Ukraine to assist in eliminating Ukraine's dependence on fossil fuel imports from Russia," the press service said in a statement.
It is noted that UAVA plans to build up to 20 plants throughout Ukraine within five years with a capacity to deliver up to two million tonnes of energy rich product per year that will heat public and private buildings in the region.
UAVA plans to work with all levels of government to provide alternative heating sources for the country, according to the statement.
"This project is based on Ukraine agricultural best practices that will be married to American agile & lean management practices," the press service quoted UAVA CEO Rod Robertson as saying.
"Each of our factories will be a stand alone profit & loss center competing with our other factories," he added.
As reported earlier, UAVA founder Henry Shterenberg presented UAVA's bioenergy project to Ukrainian Prime Minister Arseniy Yatsenyuk and other Cabinet members at an event sponsored by the U.S. Chamber of Commerce in Washington, DC, on July 13, 2015.