Project Locations
In August 2008, Anagenesis incorporated Anagenesis Trees Bulgaria (Cyprus) Ltd. Anagenesis Trees Bulgaria (Bulgaria) Ltd is under local Bulgarian incorporation. The reason for this is that only Bulgarian entities are entitled by law to own land in Bulgaria. The appointment of Mr. Assen Babanski as General Manager of Anagenesis Bulgaria was pivotal in direct negotiations with Cabinet Ministers regarding the allocation of land in the southern part of Bulgaria. ATC is investigating two different land opportunities which could potentially be combined into a single project due to their geographic proximity (within 100 kilometers of each other). ATC will tender an official commercial proposal upon a final onsite inspection of the relevant land parcels. Furthermore, the Bulgarian Government has indicated that it is willing to negotiate with ATC regarding the potential of importing additional quantities of bioethanol (off-take agreement, possibly from the Russian project) in order to meet or exceed the 2010 emission targets set by the European Union. A series of meetings is underway with various Governmental Departments vis-à-vis the required actions.