Joint Venture Agreement between Clenergen Corporation and Futenco AG (NEWCO) for Energy Crop Projects

Contract Categories: Mergers & Acquisitions › Joint Venture Agreements
Summary

Clenergen Corporation and Futenco AG (NEWCO) have agreed to form a joint venture to develop energy crop plantations in Ghana and Sri Lanka. Clenergen will provide plant science resources, supply chains, and land assets, while NEWCO will contribute up to $30 million in funding. Clenergen will hold 25% equity and NEWCO 75% in the joint venture. The agreement also outlines potential future projects in Malaysia and Guatemala, with Clenergen retaining a minority stake and providing due diligence and financial modeling for each new project.

View More
EX-10.1 2 v234589_ex10-1.htm EXHIBIT 10.1 Unassociated Document
CLENERGEN CORPORATION & FUTENCO AG (“NEWCO”)
 
RE: CLENERGEN FUND
 
TERMS OF AGREEMENT
 
 
1.
A joint venture between Clenergen Corporation and NEWCO will be formed for the purpose of implementing energy crop plantations in Ghana and Sri Lanka;
 
 
2.
Clenergen will contribute its plant science resources and supply chains for planting Melia Dubia and Beema Bamboo at preferential pricing in Ghana and Sri Lanka;
 
 
3.
Clenergen will contribute the land assets it holds in Ghana;
 
 
4.
NEWCO will contribute up to $30 million in funding for these projects;
 
 
5.
Clenergen Corporation will own 25% equity and NEWCO 75%;
 
NEW OPPORTUNITIES
 
 
1.
Opportunities exist with large land owners in Malaysia and Guatemala who have both the capital and resources to cultivate energy crops;
 
 
2.
Each project would be set up as an SPV and Clenergen would retain the right to own 20% to 3-% of each project;
 
 
3.
Clenergen will provide assistance in evaluating each region for its suitability for cultivation of energy crops and will perform necessary due diligence as to the feasibility based on economic and climate conditions, along with Quarantine regulations for importing Beema Bamboo;
 
 
4.
Clenergen will develop financial models based on the cultivation of 10,000 acres in each region.
 
CLENERGEN CORPORATION         NEWCO  
         
/s/ MLM Quinn
    
/s/Jan Malkus 
  
 
    
 
  
Print:           Mark LM Quinn      Print:  
         
Date:           5th September, 2011  
    
Date:           5.9.2011