Project Description
The EBRD is considering a follow-on investment in Ukram Industries Ltd, a Cyprus registered company with a Ukrainian manufacturing subsidiary, ecofridge CJSC. Ukram sells a patented nitrogen–based transport refrigeration system for trucks and trailers. Funding will be used to finance the future growth of the company.
Transition Impact
The transition impact potential of the project is related to setting standards of business conduct and demonstration of new products in the form of new environmentally friendly and energy efficient cooling technologies.
The Client
Ukram is a company with a patented system of transport refrigeration for trucks and trailers. Units are manufactured in Ukraine by ecofridge CJSC, a wholly owned subsidiary of Ukram.
EBRD Finance
Follow-on convertible debt instrument to finance future growth. Private sector equity co-investors are also being sought.
Amount - confidential.
Project Cost
US$12m.
Environmental Impact
When this project first came to the Bank via the Direct Investment Facility, environmental information was provided to the Bank as part of the review process and the Company has been providing annual environmental updates since then. The environmental and social impact of this project is considered very positive given the reduced emissions associated with the technology and the reduced noise impact as a result of the silent running of these fridges. Production by the Company is limited to the assembly of the electrical components of the refrigeration units and this is done in compliance with national and EU requirements for environment, health and safety. The Company will continue to provide the Bank with annual environmental, health and safety reports.
Technical Cooperation
None.
Company Contact
David Rogalski, CPA
Vice President, Chief Financial Officer
Ukram Industries Limited
Work: +1 (317) 575-4061
Fax: +1 (317) 575-4069
Mobile: +1 (513) 739-3007
Email: DavidRogalski@ecoFridge.com
Business opportunities
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
Public Information Policy (PIP)
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP
