AgCert Company Profile

Goals

To provide an overview of the company known as AgCert, including relevant investment details and investor returns.

Early Findings

Overview: AgCert International and XL TechGroup

  • This research is on the company, AgCert International, Limited.
  • AgCert International was founded in 2002 and was headquartered in Dublin, Ireland.
  • The company produced and sold agriculturally-derived greenhouse gas (GHG) emission reductions.
  • AgCert was one of the companies under XL TechGroup, an incubator nurturing companies in biotech, ecotech, medtech. Other Companies under the XL Tech Group incubator in that period include: PetroAlgae, DxTech, and TyraTech.
  • AgCert was the first of the new XL TechGroup businesses that was floated on the Alternative Investment Market of the London Stock Exchange
  • XL TechGroup owned 27.2% of AgCert International.
  • AgCert International entered liquidation on 20 June 2012
  • XL Tech Group has had sucesses in 9 companies: 5 IPOs and 4 trade sales, creating a market value of £2 billion.

Overview of Investments in AgCert International

  • In June 2005, AgCert International shares were floated on the Alternative Investment Market of the London Stock Exchange at £1.40, with a valuation of £215 million. By the end of July of the same year, the shares had surged by almost 70% to £2.30, and giving the valuation of AgCert International to be £353.15 million.
  • In 2005, "the International Finance Corporation, the private sector arm of the World Bank Group, has provided $10 million equivalent in equity financing to AgCert International PLC."
  • In 2006, AES Corp. and AgCert International "announced the formation of AES AgriVerde, a joint venture designed to deploy AgCert’s greenhouse gas emission reduction technology in selected countries in Asia, Europe and North Africa." AES maintained a majority interest in the joint venture and invested $325 million into the joint venture over the next five years.
  • AES invested over $50 million to acquire 9.9% equity interest in AgCert.
  • In 2007, XL Tech Group owned 23.2% (39.2 million shares) of AgCert International after Laurus Master Fund received 1.5 million shares of the company.
  • In 2007, Shareholders approved the issue of over 76.1 million new shares, which allowed the company to raise €30 million, converting about €15 million in debts into stock and providing it with another €15 million to fund its development.
  • In 2008, AgCert (AGC.L) crashed nearly 80% on news that a key deal with a major European trading company had collapsed.
  • AgCert delisted in order to stay in business in 2018.

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