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Bioenco Signs Cooperation Agreement with Finnish VAPO OY

Following the negotiations that took place in Finland and in Moscow as well as the Finnish experts’ visit to the Russian enterprises, the Bioenco Energy Corporation signed an agreement with the Finnish-based concern VAPO OY.

The agreement on strategic cooperation presupposes the participation of VAPO OY in various projects of Bioenco, the import of modern equipment manufactured in Europe, branch consulting as well as the implementation of the newest technologies in the sphere of peat production and processing, and heat generation.

The Bioenco corporation was created in 2011, is an industrial holding company and works in the sphere of renewable energy. The major assets of the holding are a number of technology clusters in the peat industry, located in the central regions of Russia.

VAPO OY concern was chosen as an optimal partner considering their work experience in peat production. The Finnish company has existed since 1940, the main directions of VAPO OY activities are woodworking, bio fuel, heat generation and agricultural production. The major shareholder of the company is the state.

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