“Investment and Venture Fund of the Republic of Tatarstan” and SUE "Investment Company "Arkhangelsk" signed cooperation agreement

On June 2, 2009, Agreement on Cooperation was signed between Director of “Investment and Venture Fund of the Republic of Tatarstan” and Investment Company “Arkhangelsk” within the meeting involving Head of the Administration of the Arkhangelsk Region on innovative development matters in Arkhangelsk. Director of IVF RT, Aynur Aydeldinov, signed the Agreement on behalf of IVF RT.
Aynur Aydeldinov also made the presentation of “Investment and Venture Fund of the Republic of Tatarstan” activity and a number of innovative projects, financed by the Fund.
Within the meeting, the agreement was achieved about joint implementation of the project “Setup for Plants Production for Quick Pyrolysis of Wood-Based Biomass in Liquid Fuel.” Cost of a plant, which is mobile and completely autonomous, is approximately 3 mln. roubles. Such 20 wheeled mini-plants are enough, so what the project started to be repaid and even earn profit owing to refusal to use mazut and other expensive imported fuel types.
Governor of the Arkhangelsk Region, Ilya Mikhalchuk, said that partnership relations between the Arkhangelsk Region and the Republic of Tatarstan were good, and that this project was the next step for this partnership development. Taking into consideration the fact that industrial wood residue reserves are estimated at 4 mln. cubic metres, and volume of off-grade wood is at 5,5 mln. cubic metres, it is the best place for the project implementation.
Essence of the idea is in that the mobile plant will work in the places of industrial wood residue accumulation, conversion products of which are biofuel, charcoal, and gas. According to combustion heat, biofuel is equivalent to wood, and it is much more competitive than wood chips, firewood, and pellets thanks to low shipping costs. Moreover, besides using biofuel, it is possible to sell charcoal, cost of which is steadily grows in the world market.