MTB VENTURES

CHASKA RENEWABLE ENERGIES LLC

Chaska Renewable Energies (Chaska) is a new MTB subsidiary that will develop a project to produce ethanol fuels and electric energy from sugar cane in northern Peru.  Chaska is currently seeking interim financing to complete a comprehensive feasibility study, establish land ownership, and demonstrate the project’s economic viability.  Chaska is the result of a partnership between MTB and several international trade experts in Lima, Peru.  The project will be developed with Uni Systems, a Brazilian company with more than 30 years experience in the engineering and construction of ethanol plants.

The formation of Chaska was the result of the growing need for renewable fuels that are not petroleum-based and a recognition that a great opportunity exists to profitably meet this need through the development of Peruvian sugar cane.  The “green” project will produce cleaner-burning ethanol fuel, and it will also generate electric power for the region.  Chaska will also provide jobs and other benefits for local people in the region.  With northern Peru’s yearlong growing season, Chaska can develop a consistent source of ethanol.  The Chaska project, as currently defined, meets all the World Bank criteria for sustainable development as outlined in the Bruntland Report (1987) and also meets criteria established in the Kyoto Initiative.