SIA Compaqpeat participated in the following European Union (EU) projects and received co-financing from EU structural funds:
- In 2009 project “Support of investments in development of small companies in specially supported regions”, 1st stage, received financing of the EU structural fund programme “Entrepreunership and Innovation” in the amount of 99 545,- EUR for modernisation of milled peat production plant – purchase of new fractioning and packaging line.
- In 2010 2nd stage of project “Support of investments in development of small companies in specially supported regions” received financing in the amount of 113 203,- EUR for expanding of milled peat production plant by purchasing of new feeding and outflow peat mixing equipment for production of different peat mixtures types. As the result of the Project there was developed a variety of peat mixtures, and turnover significantly increased.
On July 27, 2012 SIA Compaqpeat signed a contract with the Latvian investment and development agency on implementation of the project “Establishments of peat processing plant in Balvi” within the framework of EU funds activity “High value-added investment”.
The project was launched in 2012, and as a result of its implementation in April, 2014 the new modern peat processing plant with the total area of 5 100 m2 and maximum capacity of 600 000 m3/year was commissioned.
The plant is fully automated and equipped with 2 production lines that provide full production cycle of the products with high added value – peat substrates, as well as the new facilities enable to offer customers wider choice of product packaging than before. 2 new production lines are planned in the near future as well.