FRANCE - Ambienta acquires 51% stake in Alpin Pellet for EUR 2.5m

Alpin Pellets is a spin off from Tournon-based Savoie Pan. The company started out in the wood byproducts space, and moved into pellets production seven years ago. Pellets are solid biofuel composed of dried, pressed woody biomass, and is used to produce energy and heat.

The pellet market in Europe is growing rapidly, from 1.5 million tons in 2002 to over 9 million tons in 2008. Projections from the European Biomass Association (AEBIOM suggest the market could reach over 50 million tons by 2020 for residential, industrial and services heating.

The buyout was structured as a capital increase and carried out via the Ambienta I Biomasse newco, which already includes Ambienta's previous investment in the sector, Italiana Pellets.

The capital increase will fund an expansion of production capabilities, enabling Alpin Pellet to double its production capacity, reaching 40,000 tons/year in 2010. Furthermore, the business is also looking to execute growth plans through acquisitions.

Guido Rivolta and Rolando Polli led for Ambient and Polli will take on the role of company chairman of Alpin Pellet, while the position of general manager will be filled by Maurizio Annovati, controlling shareholder of Savoie Pan.

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