22/07/2016

Growth capital fund LitCapital has signed UAB “Lignoterma“ share sale agreement with AB “Amilina”, controlled by international company „Roquette Freres“ and Mr. Danas Tvarijonavičius. This is a second full exit from LitCapital I KUB fund.

Lignoterma was the first investment of LitCapital I KŪB fund made back in the beginning of 2011 Lignoterma is a renewable energy generation company that started its activities in 2013. The company is based in Panevėžys and supplies heat to AB “Amilina”, one of the largest producer of starch, glucose, gluten and feedstuff in Northern and Eastern Europe. The power of biomass thermo power plant exceeds 32 MW and total investment amount including borrowed funds into the Company was more than EUR 15M.

“We are very pleased with another good investment. Lignoterma is very successful company that allowed to optimize production expenses and ensured diversified and independent energy supply to its customer. In addition to that, there is a number of technological innovations implemented in the power plant. For instance, it can use various inputs and produces hot water, steam and hot oil” – says Šarūnas Šiugžda, Managing Partner of LitCapital.

Lignoterma is a second fully exited investment from LitCapital I KŪB fund. In January 2016 the fund divested shares of Putokšnis and in the middle of 2015 it reduced its stake in Brolis Semiconductors.