The project is part of Green Tech International’s [BSE:GREEN] strategy to expand in the sustainable agriculture sector by developing at least 50 ha of hydroponic greenhouses heated with geothermal water over the next five years, the company said in a statement filed with the Bucharest Stock Exchange.
The project, whose value was not disclosed, will be carried out by Green Tech International’s subsidiary, Horti Green Invest.
“We are well positioned to capitalize on our geothermal resources and generate value in complementary sectors with high growth potential. Our strategy focuses on investments in synergistic industries such as sustainable agriculture, where geothermal energy provides a major competitive advantage due to lower costs and supply stability. We have started the construction of our first modern hydroponic greenhouse project, powered by geothermal energy, covering an area of 10 hectares in western Romania. The project will position Green Tech International among the top three greenhouse vegetable producers in Romania,” said Green Tech International COO Dragos Gavriluta.
Green Tech International also intends to rehabilitate existing geothermal wells and modernize of a thermal power plant to supply heat to the greenhouses.
Green Tech International SA had a turnover of RON1.4 million and net profit of RON795,185 in 2024, per finance ministry data.
The company is held by Raluca Simu, sole associate at Henri Maillardet AG, which owns 35.8% of the share capital, Luxembourg-based investment fund GEM GLOBAL Yield LLC SCS, with a 28.2% stake, and by Swizz citizen Lars Alexander Haussmann, through Alpeurope Investments GmbH, which holds a 21.1% stake.