The Velta Group, which has assets for the extraction of titanium-bearing ores in Novomyrhorod (Kirovohrad region), has received its third patent from the US Patent and Trademark Office (USPTO) for its innovative Velta Ti Process technology.
According to a press release on Monday, the new patent confirms the possibility of obtaining high-quality titanium dioxide (TiO₂), a key material for the further production of titanium powder using the Velta Ti Process technology, as well as commercial products based on titanium, iron, calcium, and nitrogen.
It should be noted that Velta Holding US Inc. has obtained three Ukrainian and three US patents since 2020.
Velta Holding US Inc. is a group of companies engaged in the full cycle of titanium production, from the extraction of titanium raw materials through innovation to the manufacture of final metal products.
Velta LLC is a Ukrainian company that is part of the group and is a manufacturer of titanium raw materials and the only private Ukrainian company that has built a titanium mining complex from scratch in the Kirovohrad region. With over 15 years of experience in the mining sector, the company holds 2% of the global titanium market and has partners and customers in Europe and the US.
Velta Holding also includes the Velta RD Titan research and development center and Velta Medical, a manufacturer of custom titanium implants.
Velta Holding LLC is wholly owned by VKF Velta LLC. The ultimate beneficiaries are three individuals: Andriy Brodsky (60%), Vadym Moskalenko (20%), and Vitaliy Malakhov (20%).
Velta, patent, USA, technology, titanium, processing
IDS Ukraine, one of the largest producers of bottled water and beverages in Ukraine, has commissioned a 1.4 MW solar power plant at the Mirgorod Mineral Water Plant, the company’s press service reported.
IDS Ukraine noted that from the first day of operation, the solar power plant began to supply the enterprise with energy, generating up to 600 kW/h even in cloudy weather.
“This project is not just an element of energy efficiency, it is our contribution to the sustainability of the country and our production and logistics infrastructure in the face of infrastructure challenges.
Our strategy is based on strong brands and strong production facilities that are capable of being reliable and predictable manufacturers and suppliers even in turbulent conditions,” emphasized IDS Ukraine CEO Marko Tkachuk.
The launch of the solar power plant at the Mirgorod Mineral Water Plant is part of a long-term strategy to develop our own electricity generation based on the principles of rapid response and strategic sustainability.
According to the strategy, IDS Ukraine will invest EUR530,000 excluding VAT in the construction of its own energy facilities in 2024–2025. The company has already invested EUR 460,000 in the purchase of a diesel generator for the Mirgorod plant to provide an operational reserve and has formed a total generation capacity of 1.6 MW to ensure the uninterrupted operation of critical production and logistics hubs and processes.
“Our team has been planning the transition to a partially autonomous energy supply model for a long time. Having our own solar power plant and energy means reliable production and predictability. We are reducing our dependence on infrastructure risks,” commented Konstantin Kryazhev, CEO of the Mirgorod mineral water plant IDS Ukraine.
The plant’s own solar power generation in Mirgorod will reduce electricity costs by EUR 150,000–200,000 per year, depending on the level of solar activity and current energy prices.
The expected return on investment is about three years, depending on the level of solar activity. The total annual electricity demand of the entire IDS Ukraine group is 28 MW, of which 5 MW is in Mirgorod and 23 MW is consumed by the company’s largest production and logistics facility, the Oskar Morshyn Mineral Water Plant.
In 2026, IDS Ukraine plans to launch another solar power plant with a nominal capacity of 1.6 MW at the Morshyn Mineral Water Plant “Oscar.”
The project of its own solar power plant is part of IDS Ukraine’s ecosystem approach to technological modernization and responsible production, which is the company’s response to current energy and climate challenges, the company emphasized.
IDS Ukraine is a Ukrainian group of companies founded in 1996 and the largest national producer of bottled water. The holding includes the Morshyn mineral water plant “Oscar,” the Mirgorod mineral water plant, the distribution company “IDS,” and the water delivery operator “IDS Aqua Service.”
The group of companies owns the Morshynska, Myrhorodska, Alaska, and Aqua Life trademarks.
As reported, Cyprus-based International Distribution Systems Limited, owner of Ukraine’s largest mineral water producer IDS Ukraine, was subject to Ukrainian sanctions in November 2023 in the form of asset freezing, prevention of capital withdrawal abroad, and a ban on increasing the authorized capital of Ukrainian companies associated, in particular, with Russian oligarch Mikhail Fridman and other co-owners of Alfa Group.
The process of nationalizing IDS Ukraine is currently ongoing.
Cattle slaughter in April 2025 in Ukraine amounted to 16.8 thousand tons, which is 3% less than in March and 16% less than in April last year, according to the Milk Producers Association (MPA) citing data from the Ministry of Agrarian Policy.
The industry association noted that in January-April 2025, cattle slaughter in Ukraine amounted to 60.9 thousand tons, which is 10% less than in the same period of 2024.
At the same time, the largest share (62%) was sold for slaughter at agricultural enterprises in Vinnytsia (219.9 thousand tons), Cherkasy (146.6 thousand tons), Dnipropetrovsk (124.5 thousand tons), Lviv (72.2 thousand tons), and Kyiv (63.8 thousand tons) regions.
The Concorde Capital investment group plans to invest EUR120 million in energy projects by the end of this year and expects to build an energy company worth more than $1 billion in “a couple of years,” according to founder and owner Igor Mazepa.
“By the end of the year, we will invest EUR120 million. The market is a ‘blue ocean’ with no competition, so it’s just a matter of getting started. The IRR in this case is 35%, which means a return on investment in 2.5-3 years,” Mazepa said at the Forbes Money forum in Kyiv.
According to him, the market expects gas prices to rise and electricity prices to fall, but with a projected payback period of 2-3 years, investors will already feel more confident.
Mazepa noted that he first invested in the energy sector in August 2024, investing EUR 32 million in a pilot project, and is already seeing the first results of this investment, which confirm the correctness of this strategy.
In his opinion, such prospects are related to the fact that 10 GW of power capacity has been destroyed by the aggressor, and this is mainly maneuverable capacity, which is the most expensive and for which the market pays a premium price.
“There has never been such a price, not once, not in a single year that I can remember in the last 25 years.
It is even higher than in some Eastern European countries. It’s an amazing market, huge, worth billions of dollars!“ emphasized the owner of Concorde Capital, adding that gas and electricity prices are expected to rise further.
”I think that in a couple of years we will build just such a billion-dollar company in the energy sector,” he concluded.
As reported, Mazepa, with the help of four unnamed partners, acquired a 50 MW energy storage system for EUR 32 million in early 2025 and plans to then contract equipment for a gas-fired power plant worth EUR 30 million to create a single energy complex.
Alexei Timofeev, a member of the board of directors of BGV Group Management, who spoke alongside Mazepa, agreed that there are attractive investment opportunities in the energy sector, where the group has also accepted five projects – wind, batteries, gas cogeneration, and investments in the energy efficiency of utility networks through an energy service company. At the same time, he stressed that these are short-term and relatively small projects, and that this “hot” market is not about billions in investments.
“This is simply an illustration of the approach that exists, which does not work in the long term. Because it is impossible to make long-term forecasts based on peak prices without taking into account factors such as the return or non-return of the Zaporizhzhia Nuclear Power Plant, the restoration or non-restoration of coal-fired power generation… In general, when you jump above zero in three years, you can afford such things, but no billions will come here – there is nowhere to go,” the expert believes.
He added that Ukraine does not need to restore 10 GW of destroyed energy capacity because it does not have such a deficit. “Ukraine’s energy sector was in surplus before the war, and everything that has been destroyed is reflected in the fact that we have deindustrialization, loss of territory, and loss of population,” Timofeev said.
Karol Nawrocki, candidate for the Law and Justice party, has won the second round of the presidential election in Poland, according to Gazeta Wyborcza.
According to the Polish National Electoral Commission, after 100% of the votes were counted, he received 50.89% of the vote, or 10,606,628 votes.
His opponent, Warsaw Mayor Rafal Trzaskowski, received 49.1% of the vote.
Ukrproduct Group, a major Ukrainian producer of packaged butter and processed cheese, reported a net loss of GBP 2.04 million for 2024, compared with a net profit of GBP 0.39 million in 2023.
“Financial expenses in 2024 increased by 253% compared to the previous year to GBP 2.8 million, which was caused by significant accruals of commission for deferral on a loan from the EBRD, applied retrospectively for the period from October 2016 to December 2024,” the company explained in its annual report on the London Stock Exchange.
According to the report, in December 2024, the European Bank for Reconstruction and Development (EBRD) decided to exercise its right under the loan agreement and charged a commission of GBP 2.0 million, increasing the company’s liability to the bank to GBP 8.1 million.
The group’s gross profit for the past year increased by 3.9% to GBP7.12 million, while operating profit fell by 36.6% to GBP1.08 million, and EBITDA by 29% to GBP1.7 million.
As for Ukrproduct’s revenue, it grew by 13% in hryvnia over the past year, while in British pounds sterling, the increase was only 0.2% to GBP37.08 million.
“The processed cheese segment generated revenue of GBP 21.2 million in 2024, down 15% from the previous year. This was largely due to a reduction in price promotions at the national level due to rapid cost increases caused by sharp fluctuations in the dairy raw materials market and the risk of loss-making sales,” the company explained.
According to the report, the butter segment achieved revenue of GBP 5.2 million in 2024, compared to GBP 3.1 million in the previous year. This 70% growth was primarily driven by increased production following a period of slight stagnation, with the market becoming receptive to higher supply.
Sales of spreads fell by 12% to GBP 4.0 million, reflecting increased competition in the market and changing consumer preferences.
Ukrproduct recalled that in the fourth quarter of 2023, it expanded its range of products with a longer shelf life to include a new category of sandwich spreads, which showed profitable growth: sales in 2024 amounted to GBP 1.2 million.
Sales of skimmed milk powder increased by 8% last year to GBP 1.4 million, but declined by 23% in volume terms. It is noted that prices for skimmed milk powder had only limited upside potential in 2024, and the group minimized the release of this product for sale in favor of using semi-finished milk protein as an ingredient in the production of processed cheese.
Sales of kvass and other beverages increased by 31% year-on-year to GBP 2.3 million in 2024, thanks to positive kombucha sales dynamics, supported by new product launches and strong brand positioning.
Ukrproduct noted that administrative and commercial expenses in 2024 increased by 4% year-on-year to GBP4.2 million.
This increase was mainly due to higher payroll and related expenses, as well as higher insurance and consulting expenses. Other operating expenses increased to GBP 1.8 million in 2024 compared to GBP 1.1 million in the previous year.
In light of the expected deterioration in the business outlook and increased future risks, the group recognized a net impairment loss of GBP 1.1 million on financial assets, reflecting provisions made for receivables and prepayments to suppliers. In addition, this line includes a write-off of goods in the amount of GBP 0.1 million and a provision of GBP 0.4 million for blocked VAT invoices.
Ukrproduct’s net assets as of December 31, 2024, amounted to GBP 2.0 million, down from GBP 4.5 million a year earlier, while cash balances decreased to GBP 0.1 million.
According to the agricultural holding, it has been in dialogue with the EBRD since 2021 regarding the potential restructuring of the loan and accrued interest and fees, and discussions are ongoing. At present, the EBRD has not taken any action to accelerate the repayment of the accumulated loan.
Assessing its prospects for 2025, Ukrproduct assumes that the business environment will remain unstable due to the ongoing war in Ukraine and financial pressure.
“The Group will continue to pursue a prudent capital allocation policy, prioritize liquidity preservation, seek new financing opportunities, and focus on meeting its existing commitments.
EBRD, LOAN, LOSS, UKRPRODUCT
