Timeline
Our Projects Timeline
Dairy / Farms
Vertical farming
Compost
Green energy
Milk valorisation
Greenhouses
Finance / Capital Markets
Straja 1 Farm — Phase I operations
- Operations commenced March 2025
- Target: 1,800 cows by end of 2025
- Begin gradual herd build-up and milking routines
- Monitor daily milk output and feed efficiency
- Install initial automation / monitoring systems
Compost Facility — Vaidei (Unit 1)
- Construction and commissioning of first compost factory
- Capacity: 7,000 t/yr organic compost
- Process 40,000 t/yr of manure
- Install sorting line and packaging unit (5–40L bags)
- Launch B2B and B2C compost sales channel
- Begin voluntary carbon certificate process
Solar Panels — 3 farm sites
- Install solar on Apold, Cut, Lacto Agrar farms
- Rooftop installations on farm buildings
- Target: 80% electricity bill reduction across 3 sites
- Expected annual saving: ~€500K
- Reduce carbon footprint of operations
Wheatgrass — Pre-launch planning
- Secure financing and finalise technology partnerships
- Complete feasibility studies
- Develop financial & environmental impact projections
- Identify land and CO₂ integration requirements
- Prepare design for Cut 1 vertical farm unit
Milk Valorisation Research
- Begin in-depth analysis on water elimination from milk
- Research protein isolation from raw milk
- Explore fat, cream, butter, milk powder product lines
- Assess transport cost reduction potential via condensing
- Identify potential export markets: Greece, Italy, Bulgaria
Capital Markets & Governance
- Continue BVB AeRO listing obligations
- Publish 2025–2030 Development Strategy (May 2025)
- Begin preparation for IFRS reporting adoption (target 2026)
- Engage investors via teleconferences and presentations
Straja 1 Farm — Completion phase
- Scale herd to ~3,400 animals by year-end
- Reach approx. 100,000 L/day milk production
- Install milking robots in parlors (pre-cleaning + dipping)
- Aim for 50% reduction in manual labour for milking ops
CUT 2 Farm — Permitting & Construction start
- Complete land acquisition (started late 2025)
- Obtain all environmental & construction permits by early 2026
- Begin construction in second half of 2026
- Build barns, milking parlors, feed storage, waste systems
- Install two milking rotors (3 sessions/day design)
- Lay groundwork for solar panel integration
Straja 2 Farm — R&D & Land acquisition
- Initiate land acquisition for future Straja 2 site
- Begin research: investment planning & cost breakdown
- Study milking rotor configuration & automation needs
- Assess solar panel capacity requirements
- Evaluate manure valorisation & composting integration
Vertical Farming — Cut 1 unit (construction)
- Build vertical farm at Cut 1 farm site
- Install hydroponic racks and climate control systems
- Integrate CO₂ capture pipeline from biomethane prep
- Recruit and train operations staff
- Begin production at end of 2026: 20 t/day wheatgrass
- Start integration into Cut 1 cattle feed programme
Compost Facility — Cut 1 (Unit 2)
- Build second compost factory at Cut 1 farm site
- Doubles group capacity from 7,000 to 14,000 t/yr
- Process additional 40,000 t/yr of manure
- Install sorting line & packaging for B2C retail bags
- Expand voluntary carbon certificate programme
Laguna Project — Apold
- Install lagoon infrastructure at Apold farm
- Improve manure and liquid waste management
- Support circular economy and compost input quality
Dairy Product Diversification
- Finalise milk valorisation research (target Q1 2026)
- Proceed to implementation planning in Q2 2026
- Begin processing line investment planning
- Explore cream, fat, butter, milk powder product lines
- Identify bakery and food processor clients in EU
Capital Markets milestones
- Adopt IFRS reporting starting 2026
- Advance Main Market (BVB) upgrade preparations
- Biogas stake decision expected (10–20% minority equity)
Straja 1 Farm — Full operation
- Reach full capacity: 5,000 animals
- Daily milk production: 150,000 L/day
- Robots fully operational in milking parlors
- Compost and manure systems at full throughput
CUT 2 Farm — Milking & automation infrastructure
- Continue construction: milking parlors and automation fit-out
- Install robotic udder pre-cleaning and dipping systems
- Complete barn and feed storage infrastructure
- Solar panel installation for electricity self-sufficiency
- Prepare for first livestock arrival (late 2027)
- Phase 1: First group of dairy cows arrive late 2027
Biogas Facility — Entry decision & launch
- Partnership: DN Agrar + BSOG Energy (Black Sea Oil & Gas)
- Finalise stake acquisition decision (10–20% minority)
- Facility commissioned by end of 2027
- Initial capacity: up to 15 MW biomethane
- Raw material supply: manure from DN Agrar farms
- Secure 15-year offtake contract (revenue: €3.5–4M/yr)
- 90% reduction in associated carbon emissions
Solar Panels — Straja expansion
- Install solar on Straja farm rooftops
- Brings 4-farm solar saving to ~€700K/yr
- Reduce electricity dependency across expanded herd
Laguna Project — Cut 2
- Install lagoon infrastructure at Cut 2 site
- Supports manure management as herd begins to arrive
- Links into biomethane raw material supply chain
Straja 2 Farm — Permitting process
- Formal permitting process initiated for Straja 2
- Environmental and construction permit applications filed
- Continue R&D: operational design & milking efficiency study
- Final investment decision anticipated early 2028
Dividend & Main Market preparation
- Target dividend introduction in 2027 or 2028 post-biogas launch
- Advance BVB Main Market upgrade timeline (Q4 2026–Q1 2027)
- Consider share buyback programme implementation
CUT 2 Farm — Animal acquisition phase
- Phase 2: Herd scaled progressively to full capacity
- 5,000 dairy cows acquired internally from DN Agrar farms
- Estimated procurement cost: €7.5M (~€1,500/animal)
- Three milking sessions/day operational across herd
- Feed integration: 20–30% wheatgrass from vertical farm
- Manure processed through compost factory + biogas plant
Vertical Farming — Cut 2 unit (construction)
- Begin construction of Cut 2 vertical farm (end of 2028)
- Target: 20 t/day additional wheatgrass output
- Integrate CO₂ from biomethane plant (now operational)
- Install hydroponic racks and climate control for Cut 2
- Total group wheatgrass target: 40 t/day by 2029
Compost Facility — Cut 2 (Unit 3)
- Build third compost factory at Cut 2 farm
- Process manure from growing Cut 2 herd
- Add packaging capability (5–40L retail bags)
- Group compost capacity grows toward 28,000 t/yr target
- Generate ~16,000 voluntary carbon certificates/yr per unit
Laguna Project — Straja (Ohaba)
- Install lagoon at Straja farm (Ohaba site)
- Supports full-capacity manure management at Straja 1
- Feeds into compost and biogas supply chains
Biogas — First full year of operations
- First complete year of biomethane production
- Revenue: €3.5–4M/yr secured via offtake contract
- Option to expand facility to 20 MW+ assessed
- Manure supply logistics fully optimised across farms
Straja 2 Farm — Investment decision
- Final investment decision expected early 2028
- Decision contingent on market conditions and milk valorisation
- If positive: begin construction in 2028 for 2030 operations
- Capacity: 5,000 cows · 150,000 L/day · two milking rotors
- Straja 1+2 combined: 11,000 animals · 300,000 L/day
CUT 2 Farm — Full operational launch
- Full capacity reached: 5,000 dairy cows
- Three milking sessions/day at full throughput
- Daily output: 150,000 L milk
- Solar energy covers all farm electricity needs
- Group daily production now: ~450,000 L/day
- All circular economy systems (wheatgrass, compost, biogas) integrated
Vertical Farming — Vaidei / Lacto Agrar unit
- Build third vertical farm at Vaidei (Lacto Agrar)
- Target: 30 t/day wheatgrass at this unit
- Group wheatgrass total: approaching 70 t/day
- CO₂ integration from biogas plant extended to Lacto Agrar
- Monitor livestock performance and milk yield improvements
Greenhouse Complex — Phase I
- Construction begins: industrial-scale greenhouse (Phase I)
- Focus on leafy vegetables, brassicas, high-value crops
- Year-round production to address Romania's import dependency
- Target: premium pricing and high yield per m²
- Consumer-oriented — fresh produce for Romanian market
- Operations expected to start in 2030
Solar — Cut 2 expansion
- Solar panels installed across all Cut 2 farm buildings
- 5-farm solar portfolio brings annual saving to ~€900K/yr
- Full energy self-sufficiency at Cut 1, Cut 2, Apold, Straja, Lacto
BVB Main Market & dividends
- Main Market upgrade targeted Q4 2026–Q1 2027 (or 2027)
- First dividend payments targeted 2027–2028
- Share buyback programme under evaluation
- Free share allocation to shareholders considered
- EBITDA on track to more than double vs. 2025
Vertical Farming — Apold unit (final)
- Build fourth and final vertical farm at Apold
- Target: 30 t/day wheatgrass at Apold
- Group total: ~100 t/day wheatgrass across all farms
- 25% of total group feedstock from wheatgrass achieved
- Full circular CO₂ integration across all vertical farms
- Evaluate human-health product line (juices, supplements)
Greenhouse Complex — Phase II
- Phase II construction and expansion of greenhouse complex
- Scale vegetable production capacity significantly
- Phase I operations commence (construction completed 2029)
- Diversify into tomatoes, cucumbers, brassicas year-round
- Target export to Hungary, Poland, Bulgaria
- Position as first-mover in protected vegetable farming in Romania
Compost — Straja units (decision: +2 units)
- Decision to add 2 more compost units at Straja farm
- Supports Straja 1 (5,000 cows) and Straja 2 manure volumes
- Group compost capacity reaches 40,000 t/yr
- Group voluntary carbon certificates: ~100,000/yr
- Retail compost sales in 5L, 10L, 20L bags — Romania + EU
Straja 2 Farm — Operations begin (if approved)
- Operations commence if 2028 investment decision was positive
- Capacity: 5,000 cows · 150,000 L/day
- Straja 1+2 combined: 11,000 animals · 300,000 L/day
- Group daily production: 550,000 L/day
- Annual group production: ~200 million litres
Green energy — Full ecosystem
- Biogas at full capacity: 15–20 MW · €3.5–4M/yr revenue
- Solar on all 5–6 farms: ~€900K/yr electricity saving
- 100,000 voluntary carbon certificates/yr (15-year programme)
- Gold Standard certification for carbon credits in progress
- 90% reduction in carbon emissions vs. baseline
2030 Vision — Targets achieved
- 6 high-efficiency dairy farms producing 150–200M L/yr
- 40,000 t/yr organic compost sold in Romania + EU
- EBITDA more than doubled vs. 2025 baseline
- Consistent dividend payments and/or buyback programme
- Listed on BVB Main Market for multiple years
- Unveil 2030–2035 strategic roadmap
- Industrial cluster model assessed for replication regionally
The Straja ProjectView project
Investment: RON 42M invested Jan–Sep 2025 · Financing: Bank loan + own sources · ROI: Ongoing — revenue generating from 2025
Mar 2025
Phase I — Operations launch(completed)
- Farm operations officially commenced
- First animals stocked; milking routines established
- Staff hired and trained on milking parlor protocols
- Monitoring systems (health, yield) activated
Q2–Q4 2025
Herd build-up Phase I(completed)
- Progressive livestock procurement from partner farms
- Target: 1,800 cows on site by end of 2025
- Feed optimisation and ration monitoring initiated
- Automation systems (pre-cleaning robots) commissioned
- Solar panel installation on farm buildings begins
Q1–Q4 2026
Herd build-up Phase II(in progress)
- Scale herd to approx. 3,400 animals
- Daily production reaches approx. 100,000 L/day
- Robotic milking parlor upgrades (udder dipping + pre-cleaning)
- 50% manual labour reduction target for milking ops
- Compost facility (Vaidei) begins processing Straja manure
End 2027
Full capacity milestone(future work)
- Herd reaches 5,000 animals
- Daily milk output: 150,000 L/day
- All robotic systems fully operational
- Wheatgrass feed integration from vertical farm (Cut 1)
- Manure fully routed to compost + biogas supply chain
5,000 cows at full capacity150,000 L/day milkRobots: 50% labour savingCircular: compost + biogas integration
Total investment: €13–15M · Livestock: €7.5M (5,000 × €1,500) · Financing: €10M bank loan + own sources · Daily output target: 150,000 L/day
2025
Land acquisition & site preparation(completed)
- Identify and secure land parcel for Cut 2 site
- Assess water, utilities and road access requirements
- Commission environmental baseline study
- Engage legal and permitting consultants
Late 2025 – Early 2026
Permitting & planning phase(in progress)
- Submit environmental impact assessment (EIA)
- Apply for building and operational permits
- Finalise architectural and engineering design
- Secure all permits by early 2026
- Procure EPC (engineering, procurement, construction) contractor
H2 2026
Construction — civil & infrastructure(in progress)
- Break ground; civil works begin
- Construct barns, milking parlors, feed storage halls
- Build waste management and lagoon infrastructure
- Install utility connections (water, electricity, gas)
- Solar panels installed on all building rooftops
2027
Milking & automation fit-out(future work)
- Install two milking rotors (3 sessions/day design)
- Commission robotic udder pre-cleaning systems
- Commission robotic udder dipping sprayers (post-milking)
- Install feed management and herd monitoring software
- Conduct equipment testing and staff training
- Phase 1: First group of dairy cows arrive late 2027
2028
Animal acquisition & ramp-up(future work)
- Procure 5,000 cows internally from DN Agrar farm network
- Progressive stocking: herd builds through 2028
- Integrate 20–30% wheatgrass from Cut 2 vertical farm into rations
- Route all manure to Cut 2 compost factory and biogas plant
- Monitor and optimise milking yield per session
2029
Full operational launch(future work)
- Full capacity: 5,000 dairy cows
- Three milking sessions/day at full throughput
- Daily production: 150,000 L/day
- Solar energy covers all farm electricity consumption
- Group-level daily production: ~450,000 L/day
5,000 cows150,000 L/dayGroup total 450,000 L/daySolar self-sufficientCircular economy integrated
Investment: TBC — similar to Cut 2 (€13–15M) · Decision gate: Early 2028 · Condition: Market conditions + milk valorisation success
2026
Land acquisition & R&D kick-off(in progress)
- Begin land acquisition for potential Straja 2 site
- Commission investment planning and cost breakdown study
- Initiate research on milking rotor configuration (2 rotors)
- Assess solar panel capacity for full farm electricity
- Study manure valorisation and compost integration
2027
Permitting process & feasibility deepening(future work)
- File environmental and construction permit applications
- Conduct operational design study (barn layout, automation)
- Research biomethanisation integration from combined Straja 1+2 manure
- Evaluate circular economy synergies with Straja 1
- Prepare full investment case for board review
Early 2028
Final investment decision (FID)(future work)
- Board reviews full feasibility report
- Assess milk price and valorisation programme progress
- Evaluate financing availability (bank loan + EU subsidies)
- Go decision: construction begins 2028 for 2030 target
- No-go decision: project paused; land held as asset
2028–2029
Construction (if FID positive)(future work)
- Civil works, barn and milking parlor construction
- Install two milking rotors and automation systems
- Solar panels installed across all buildings
- Compost factory built for Straja 1+2 combined manure
- Lagoon and waste systems connected
2030
Operations begin(future work)
- First livestock arrive; herd build-up commences
- Straja 1+2 combined: 11,000 animals · 300,000 L/day
- Group daily total reaches ~550,000 L/day
- Annual group production: ~200 million litres
Conditional on FID 2028Straja 1+2: 11,000 animals300,000 L/day combinedGroup total 550,000 L/day
Vertical Farming – Wheatgrass ProductionView project
Investment: €3–4M · Financing: Bank loan · Payback: 10 years (~€400K/yr) · ROI: ~3 years operational
2025
Pre-launch phase — feasibility & design(completed)
- Secure financing (bank loan finalised)
- Finalise technology partner and equipment supplier selection
- Complete full feasibility study (yield, water use, energy)
- Develop financial and environmental impact projections
- Design CO₂ capture pipeline from biomethane prep works
- Obtain building permits for vertical farm structure
H1 2026
Construction & equipment installation(completed)
- Construct climate-controlled growing hall at Cut 1 site
- Install multi-tier hydroponic growing rack systems
- Commission LED lighting system (optimised grow spectrum)
- Install HVAC and humidity control systems
- Connect CO₂ supply from biomethane infrastructure
- Install water recirculation and nutrient dosing systems
- Recruit and train farm operations staff
H2 2026
Commissioning & first production(completed)
- Run pilot grow cycles (7–10 day wheat seed-to-harvest)
- Calibrate yield, nutrient levels and CO₂ dosing
- Quality testing: protein, chlorophyll and enzyme content
- Begin integration of wheatgrass into Cut 1 herd rations
- Monitor cow health, digestion and milk yield response
End 2026
Full production — 20 t/day milestone(in progress)
- 20 t/day wheatgrass output achieved at Cut 1
- Replaces 20–25% of external feedstock for Cut 1 herd
- Water usage verified at <10% of equivalent field crop
- Zero pesticides / herbicides — clean feed confirmed
- Performance data captured for Cut 2 scaling decisions
20 t/day wheatgrass25% feedstock replacementCO₂ integration95% water saving vs field
Vertical Farming – Wheatgrass ProductionView project
Investment: €3–4M · Financing: Bank loan · Output: 20 t/day (doubles group to 40 t/day)
End 2028
Construction start(future work)
- Procure equipment based on Cut 1 proven specifications
- Begin construction of growing hall at Cut 2 site
- Install hydroponic racks, LED systems and HVAC
- Connect CO₂ supply (biomethane plant now fully operational)
H1 2029
Commissioning & ramp-up(future work)
- Run grow cycles and calibrate systems
- Integrate into Cut 2 cattle feed programme
- Scale to 20 t/day full production
- Group wheatgrass total now 40 t/day
2029
Full operation — group capacity doubled(future work)
- Group wheatgrass capacity: 40 t/day across Cut 1 + Cut 2
- 25% of group-level feedstock now from vertical farms
- Evaluate scalability model for Vaidei and Apold units
40 t/day group totalFeedstock independence growing
Vertical Farming – Wheatgrass ProductionView project
Investment: €5–6M (larger unit — 30 t/day) · Financing: Subsidies + own sources + capital increase
H1 2029
Design, permits & procurement(future work)
- Finalise design for larger 30 t/day unit (scaled from Cut 1+2)
- Obtain building permits for Vaidei site
- Procure expanded equipment and rack systems
- Apply for EU subsidy financing package
H2 2029
Construction & installation(future work)
- Build larger growing hall at Lacto Agrar (Vaidei)
- Install expanded rack configuration for 30 t/day output
- CO₂ integration from biogas extended to this site
- Train operations team using Cut 1/2 protocols
2030
Full production(future work)
- Produces 30 t/day wheatgrass for Lacto Agrar herd
- Group wheatgrass total now ~70 t/day
- Monitor cow health, yield improvement and feed cost reduction
30 t/day at Lacto Agrar~70 t/day group total
Vertical Farming – Wheatgrass ProductionView project
Investment: ~€5–6M · Financing: Subsidies + own sources + capital increase · Target: ~100 t/day group total
H1 2030
Build & install(future work)
- Replicate Vaidei design at Apold site
- Construct growing hall; install all systems
- Commission CO₂ integration from biogas network
- Staff trained using established operational playbook
H2 2030
Production & group milestone(future work)
- Apold unit at 30 t/day
- Group total: ~100 t/day wheatgrass across all four farms
- 25% of total group feedstock from wheatgrass achieved
- Evaluate human-health product diversification (juices, supplements)
- Assess replication model for regional expansion
~100 t/day group total25% feedstock target metHuman-health products explored
Compost FactoriesView project
Per unit: €1.7M · Capacity per unit: 7,000 t/yr compost · 40,000 t/yr manure · Carbon certs: ~16,000/yr/unit · Payback: 10 years ~€170K/yr
2025
Unit 1 — Vaidei (compost launch)(completed)
- Construction and commissioning of first factory
- Install sorting line and packaging unit (5–40L bag formats)
- Capacity: 7,000 t/yr compost from 40,000 t/yr manure
- Launch B2B (big bags) and B2C (retail bags) sales channels
- Begin voluntary carbon certificate application process
- Apply for Gold Standard certification (5-year process)
2026
Unit 2 — Cut 1 (capacity doubled)(in progress)
- Build second factory at Cut 1 farm site
- Group capacity: 14,000 t/yr compost
- Install sorting and packaging (same spec as Vaidei)
- Expand voluntary carbon certificate programme
- Begin generating carbon certificate revenue stream
- Develop EU retail distribution channel for bagged compost
2028
Unit 3 — Cut 2 (group reaches 21,000 t/yr)(future work)
- Build third factory at Cut 2 site (manure from growing herd)
- Group capacity: 21,000 t/yr compost
- Group carbon certificates: ~48,000/yr
- All units equipped with sorting + packaging lines
2030
Units 4+5 — Straja (decision: +2 units)(future work)
- Decision to add two units at Straja farm for Straja 1+2 manure
- Group capacity reaches target: 40,000 t/yr
- Group voluntary carbon certificates: ~100,000/yr (15-yr programme)
- Retail sales Romania + EU (5L, 10L, 20L bags)
- Gold Standard certification pursued for premium credit value
40,000 t/yr compost by 2030100,000 carbon certs/yrB2B + B2C retail salesCircular economy: zero manure waste
Energy Efficiency Through Solar PowerView project
Goal: 80% reduction in electricity bills per farm · Financed: From loan facility · Annual saving 5 farms: ~€900K/yr
2025
Wave 1 — Apold, Cut 1, Lacto Agrar(completed)
- Structural survey of all farm buildings (roof load capacity)
- Procure solar panels and inverters; engage installation contractor
- Install rooftop panels on Apold, Cut 1, Lacto Agrar buildings
- Connect to farm electrical grid; commission monitoring
- Annual electricity bill saving: ~€500K
2027
Wave 2 — Straja farm addition(future work)
- Install solar on all Straja 1 farm building rooftops
- Scale system to match growing herd electricity demand
- 4-farm annual saving now ~€700K
- Feed surplus energy data into biogas plant planning
2029
Wave 3 — Cut 2 farm (complete rollout)(future work)
- Install solar on all Cut 2 farm buildings (integrated during construction)
- 5-farm full solar portfolio operational
- Annual electricity saving: ~€900K
- Evaluate Straja 2 solar requirements for 2030 construction
5 farms solar-equipped~€900K/yr electricity saving80% bill reduction per farm
Partnership for a biomethane production projectView project
DN Agrar role: Raw material supply (manure) + logistics · Revenue: €3.5–4M/yr on 15-yr offtake · Capacity: 15 MW initial, expandable to 20 MW+
2025–2026
Partnership structuring & stake decision(in progress)
- Negotiate partnership terms with BSOG Energy (Black Sea Oil & Gas)
- Assess minority stake acquisition (10–20% equity option)
- Board decision on equity participation in 2026
- Finalise 15-year offtake contract terms
- Structure manure supply logistics from all farms
- Engage regulatory counsel for biomethane grid injection permits
2026–2027
Facility construction (BSOG-led)(in progress)
- BSOG leads EPC procurement and construction
- DN Agrar supplies manure logistics infrastructure (lagoons, tankers)
- Install anaerobic digestion vessels and gas upgrading units
- Build grid injection connection to Romanian gas network
- Commission CO₂ capture pipeline to Cut 1 vertical farm
End 2027
Facility commissioned — first gas production(future work)
- First biomethane produced and injected to grid
- 15-year offtake contract activated
- Annual revenue: €3.5–4M
- Carbon emission reduction: 90% vs manure without processing
- Enables dividend discussions for 2028 payment target
2028 onwards
Full operations & scale assessment(future work)
- First full year of biomethane operations
- Assess expansion from 15 MW to 20 MW+
- CO₂ supply to Cut 1 and Cut 2 vertical farms running
- Track against Romania's 5% biomethane target for 2030
€3.5–4M/yr revenue15-year offtake secured90% emission reductionCO₂ feeds vertical farms
Investment: TBA after feasibility completion · Target: Higher margin per litre vs. raw milk sale · Markets: Greece, Italy, Bulgaria + EU bakeries/food processors
2025
Research Phase I — Water elimination & concentration(completed)
- Commission in-depth analysis on removing water from milk
- Assess evaporation, membrane filtration and spray-drying technologies
- Model transport cost reduction from concentrated products
- Map potential export routes to Greece, Italy, Bulgaria
- Identify GMO-free milk certification requirements
2025–2026
Research Phase II — Protein isolation & value-added products(in progress)
- Research protein isolation process (whey protein powder)
- Analyse butter and milk fat extraction processes
- Assess cream separation for industrial applications
- Identify bakery and food processor client segments (EU)
- Model margin uplift: raw milk vs. processed products
Q1 2026
Feasibility study completion(completed)
- Consolidate all research into investment feasibility report
- Present product line options to board (cream, fat, powder, protein)
- Model 3-5 scenarios for margin improvement per litre
- Identify facility location and processing line CAPEX
Q2 2026
Investment decision & implementation launch(in progress)
- Board decision: proceed with processing line investment
- Secure financing (bank loan + potential EU subsidies)
- Procure processing equipment (evaporators, separators, dryers)
- Begin facility construction or adaptation
- Initiate client pipeline development in target export markets
2027+
Processing operations & market development(future work)
- Launch cream and skimmed milk product lines
- Export concentrated dairy products to Southern and Eastern Europe
- Develop whey protein powder sales to bakeries and food manufacturers
- Track margin per litre improvement vs. raw milk benchmark
Higher margin per litreExport to Greece, Italy, BulgariaBakery + food processor clients
Phase I CAPEX: €3–4M · Total (Phase I+II): ~€6M · Financing: Subsidies + own sources + capital increase · Target: Year-round premium vegetable production
2025–2027
Market research & concept design(in progress)
- Analyse Romania's vegetable import dependency (leafy greens, brassicas, tomatoes)
- Assess protected cultivation opportunity (Romania: only ~10% of veg under cover)
- Identify high-ROI crop categories: lettuce, brassicas, cucumbers
- Select greenhouse technology model (Venlo, multi-span, vertical-hybrid)
- Map subsidy funding availability (PNRR, EU rural development)
- Identify site location (proximity to logistics and farm infrastructure)
2028
Phase I — Planning, permits & construction start(future work)
- Finalise Phase I greenhouse design (crop-specific layout)
- Submit environmental and building permit applications
- Procure greenhouse structure, climate control and irrigation systems
- Begin Phase I construction
- Set up composting integration (compost as growing medium/fertiliser)
2029
Phase I — Construction completion & Phase II start(future work)
- Complete Phase I greenhouse structure and systems installation
- Commission climate control, irrigation and crop monitoring systems
- Hire and train horticultural operations team
- Begin Phase II construction (expanded capacity)
- Set up year-round growing calendar (crop rotation plan)
2030
Phase I operations + Phase II completion(future work)
- Phase I greenhouse begins full year-round production
- Phase II construction completed; ready for operations
- Target crops: leafy greens, brassicas, tomatoes, cucumbers
- Premium pricing vs. imports; high yield per m²
- Supply Romanian retail market and export to Hungary, Poland, Bulgaria
- Integrate ESG: own compost as growing medium, solar energy on rooftops
Year-round vegetable supplyReduces Romania import dependencyExport: HU, PL, BGFirst-mover in protected cultivation
Advancing Energy Efficiency and Sustainability
DN AGRAR is implementing a large-scale solar energy project aimed at increasing energy efficiency across its farms and significantly reducing electricity costs. By integrating photovoltaic systems and energy storage solutions into its operations, the company is strengthening its commitment to sustainable agriculture while improving operational efficiency.
In 2025, DN AGRAR invested approximately EUR 7.5 million in solar panel installations across several farms within the Group. The project includes the installation of photovoltaic systems with a total capacity of 2,218 kW, together with battery-based energy storage systems, enabling the farms to produce and manage a significant share of their own electricity needs.
The installations were carried out on the rooftops of the following farms:
Implementation Timeline
-
Q2 2025
Installations begin
Installation process started across Apold, Cut, and Lacto Agrar farms.
-
2025
Farms completed & operational
Photovoltaic systems and energy storage units fully installed and operational at Apold, Cut, and Lacto Agrar.
-
2026
Final commissioning
Commissioning phase expected upon completion of infrastructure for increased electrical capacity.
Estimated Financial Impact
The solar energy project is expected to significantly reduce the Group’s electricity expenses across the participating farms. The estimated combined savings over 2026-2028 are ~€2.1M.
All figures represent estimated projections.
80%
target reduction in electricity bills
Estimated annual savings as more farms come online:
2026
~€500K
Apold, Cut, Lacto Agrar
2027
~€700K
+ Straja farm
2028
~€900K
+ Cut 2 farm
Supporting Sustainable Operations
By investing in renewable energy infrastructure, DN AGRAR is reducing its dependence on external energy sources while lowering operational costs and environmental impact. The integration of solar power and battery storage strengthens the Group’s long-term strategy of sustainable, resilient, and energy-efficient agricultural production.
