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2<br />
<strong>Foresight</strong> 2 VCT plc<br />
06<br />
Investment Summary — C Share Portfolio<br />
Investment portfolio as at 31 March 2008 is detailed below:<br />
Datapath Holdings Limited<br />
Supplies graphics cards and other products, used mainly to control large screen displays known as ‘videowall’. The business has grown<br />
strongly in recent years, with annualised turnover approaching £10 million.<br />
AWP Environmental Limited<br />
Is a holding company set up to develop waste to energy power stations. In October 2007, AWP acquired an established waste handling<br />
business, BCB Environmental Management Ltd, which is profitable and secures access to part of the waste stream required for the<br />
first power station. The total <strong>Foresight</strong> investment of £6 million will fund the first power station, alongside £12 million of bank debt. The<br />
company’s vision is to establish 8 geographically-distributed plants in the UK.<br />
Land Energy Limited<br />
Has been set up to generate renewable power from virgin wood, and to exploit the growing demand for wood pellets as a renewable<br />
fuel. The company plans to build 3 plants, in Wales, Scotland and England, at sites chosen for local demand for pellets and proximity<br />
to forestry resources, thereby reducing transport costs for wood supply and distribution of pellets. Our investment of £5 million will<br />
support the first plant.<br />
Heritage House Media Limited<br />
Provides contract publishing and souvenirs to the heritage market. The company is pursuing an aggressive acquisition strategy and aims to<br />
become a ‘one-stop shop’ for online services, publishing and souvenirs to the heritage market.<br />
O-Gen (UK) Limited<br />
O-Gen’s business is to develop, build, own and operate waste wood to energy and combined heat and power (‘CHP’) plants. The<br />
market is driven by government regulation and incentives. Specifically, landfill tax, which is driving waste operators towards cheaper<br />
and more efficient methods of waste disposal such that gate fees will be received by O-Gen from the waste wood (biomass) suppliers.<br />
The electricity generated from processing the wood will be sold to the National Grid and attracts Renewable Obligation Certificates<br />
(“ROCs”) which generate further revenue.
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