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Investment Memorandum · 2026–2034

EAGLE'S
NEST

World-class agro-industrial cluster · Russia

Free heat & CO₂ from EcoCity waste-to-energy plant → 30 ha of high-tech Venlo Gen 4-5 greenhouses → Russian retail + China export via the Oryol–Manzhouli rail corridor. 105.59 ha across 5 cadastral plots under long-term lease.

$253MProgram
2026–2034
36%EBITDA margin
Year 8
22-24%Project IRR
unlevered
$66MSeed Round
2026
01 · EXECUTIVE SUMMARY

Six numbers an LP needs to remember

30 ha
Net high-tech greenhouse
Six 5-ha modules · Venlo Gen 4-5 · LED+HPS hybrid · Priva automation · NL/CN equipment stack.
$253M
Total program CAPEX
8 years 2026–2034. Phased Seed/Series A/Series B with milestone gating between rounds.
$66M
Seed round 2026
Plot 1 pilot 5 ha + cluster HQ + CO₂ amine plant + 15 MW substation + 6 mo pre-operating capital.
36%
EBITDA margin Year 8
$105M revenue, $38M EBITDA in 2034. Project IRR 22–24% unlevered, equity multiple 2.8× over 8 years.
FREE
Heat & CO₂ from MSW plant
EcoCity municipal waste incineration plant: 200,000 t/y feedstock, ~80 MWth, ~25-30 kt food-grade CO₂/y after amine capture.
14 days
Rail to Shanghai
Plot 5 has direct rail siding (Luzhki-Orlovskie). Container terminal + GACC zone for premium processed exports to China.
All USD figures at 95 RUB/USD; EUR at 1.08 USD/EUR. Benchmarks: Wageningen UR KWIN-Glastuinbouw 2024, Dalsem/KUBO/Bom Group EU 2025, AVR Rotterdam.
02 · WHY NOW

Russia structural deficit + China premium demand

Russian closed-ground produce deficit

Self-sufficiency in greenhouse vegetables: only 65% in 2024 vs national doctrine target of 90%. Cucumber covered, tomato chronically short. Federal subsidies (Decree 1528) plus Industry Cluster status give 30-40% effective CAPEX-cost reduction.

Energy moat unique to this site

EcoCity MSW incinerator next to Plot 1 produces excess heat, electricity and CO₂ — three inputs that account for 40-55% of greenhouse OPEX. We turn these waste streams into asset value. Cannot be replicated without a local MSW plant.

Russia → China retail premium

Chinese consumers pay 30-50% premium for "Russian natural / non-GMO" food, especially in baby-food and premium households. Hema, Sam's Club, JD.com, Tmall Fresh actively scout for verified-origin imports.

₽250bn
Russia greenhouse market 2024
2024 size: ₽250bn. 2030 forecast: ₽400+bn. Leaders (ECO-Culture, Magnit greenhouses) are expanding — room for a new player with an energy moat.
+30-50%
China premium for "Russian natural"
Chinese premium retail (Hema, Yonghui, JD Fresh) accepts and requests Russia origin labels for fresh produce, sauces and IQF.
03 · WHY CHINA

Belt & Road · GACC · the Oryol–Manzhouli rail corridor

14th Five-Year Plan · Premium food imports

十四五规划 · 高品质食品进口

The PRC 14th Five-Year Plan (2021-2025) and its extension target rising imports of high-quality food. Belt & Road builds the Oryol–Manzhouli infrastructure corridor.

GACC export registration

海关总署 · 出口注册

The General Administration of Customs of China (GACC) requires plant registration for food imports. Plot 5 is being prepared as a GACC-zone with bonded customs. Mingkuan Peng (Most Energy, HK) leads the registration process.

Most Energy (HK) · China gateway

中国闸口 · 香港枢纽

Mingkuan Peng (Owner, Most Energy Investment Limited) — exclusive partner for Chinese institutional LPs and premium retailers. Hong Kong base = neutral jurisdiction for cross-border deals.

Geographical advantage of Oryol

奥廖尔 · 地理优势

Oryol sits at the junction of the M2 «Krym» highway and the R-119, 360 km from Moscow — a natural hub for Russia–China overland trade.

Rail corridor Oryol–Manzhouli

铁路通道 · 奥廖尔–满洲里

Luzhki-Orlovskie station adjoins our Plot 5. Route Oryol → Manzhouli → Shanghai/Guangzhou: ~14 days, 2-3× cheaper than air freight. Container terminal in program phase 3.

14 days
Rail Oryol → Shanghai
$20-25M
Year 8 export revenue
04 · THE MOAT

EcoCity MSW plant → free heat + free CO₂ → −40-60% OPEX

Energy & CO₂ flow

1
EcoCity MSW plant burns 200,000 t/y of municipal waste 50-200 m from Plot 1.
2
Steam → CHP turbine: ~70 MW electrical + ~80 MW thermal. Pre-DD assumption — to be confirmed against EcoCity passport.
3
Flue-gas → amine CO₂ capture (Pentair Haffmans-class) → 25-30 kt/y food-grade CO₂.
4
Heat to greenhouse heat substation (1500 m³ buffer). CO₂ injected at 800-1200 ppm into greenhouse atmosphere → +20-30% yield.
5
Power to LED toplighting (18 GWh/y), pumps, climate, processing — at internal CHP tariff, much below retail.
Result: −40-60% energy footprint vs traditional gas-fired greenhouses

Precedents — proven blueprint

AVR Rotterdam · Netherlands
60,000 t/y CO₂ from MSW incineration delivered to Westland greenhouses via Pentair amine plant.
Twence Hengelo · Netherlands
MSW thermal energy + CO₂ supplied to local greenhouse cluster.
Mucci Farms · Canada
Dalsem-built 75 ha cluster with co-located CHP for North American premium retail.
Wight Salads · UK
22 ha cluster, top-quartile yield 75-80 kg/m² tomato, retail-grade processing on-site.
Eagle's Nest · Russia
This project — first Russian cluster with all 4 elements: MSW heat + CO₂ + premium processing + China rail corridor.
05 · MASTER PLAN

105.59 ha · 5 cadastral plots · long-term lease

PLOT 1 PILOT · MSW PLOT 2 M2 «Krym» fresh PLOT 3 Modules 3, 6 fresh PLOT 4 M4-5 + processing C PLOT 5 · RAIL TERMINAL «Luzhki-Orlovskie»
1
57:10:0060101:804
PILOT + CLUSTER CORE
Adjacent to EcoCity MSW · ~30 ha allocated
2
57:10:0060101:432
M2 «Krym» fresh + retail logistics
3
57:10:0060101:433
Modules 3, 6 fresh
4
57:10:0000000:27884
Modules 4-5 + processing C
5
57:10:0000000:6116
RAIL TERMINAL → CHINA
06 · ENERGY BALANCE

EcoCity supply vs cluster demand at 30 ha

EcoCity MSW · supply (assumption)

MSW throughput200,000 t/y
Thermal capacity (CHP gross)~80 MWth
Electrical capacity (CHP)70-100 MWe*
CO₂ in flue gas160-200 kt/y
Recoverable food-grade CO₂25-30 kt/y
FLAG: declared 70-100 MWe is inconsistent with 200 kt MSW under typical benchmarks (~11-14 MWe). To be confirmed by EcoCity passport (DD).

🌿Cluster · demand at 30 ha mature

Heat (peak winter)~70 MWth
Heat (annual avg.)~35 MWth
Electrical (LED + climate)~28 MWe
CO₂ enrichment 30 ha~22 kt/y
Pumps, climate, fertigation, processing~10 MWe
Match factor (supply/demand)≥ 110%
07 · CO₂ TREATMENT

Two paths · only amine passes DD & GACC

VARIANT A · RECOMMENDED

Amine capture (Pentair-class)

MethodMEA / advanced amine
Capture efficiency85-90%
CO₂ purityFood-grade · 99.9%
TR CU 021 / GACC complianceYES
ReferenceAVR Rotterdam
CAPEX (per ha)~$0.49M
RECOMMENDATION: Variant A in the main deck — the only path that secures the GACC export certificate and passes Russian DD.
VARIANT B · COST OPTION

Wet scrubber + filter

MethodNaOH wet scrubber
Capture efficiency50-70%
CO₂ purityIndustrial · 95-98%
TR CU 021 / GACC compliancePARTIAL · risk
ReferencePower-plant scale only
CAPEX (per ha)~$0.19M
USE CASE: only as a stop-gap during severe seed-stage capital constraints; fully replaced by Variant A at Series A. Not viable for Chinese export.
08 · PRODUCT MIX

Three crops · cocktail tomato leads premium economics

60%
Cocktail / cherry tomato
Solanum lycopersicum · indeterminate
Yield (mature)70-80 kg/m²
Cycle11 mo continuous
Wholesale RU₽220-280/kg
Variants usedBrioso RZ, Strabena
$58M
Revenue Year 8 · 30 ha
25%
Long English cucumber
Cucumis sativus · seedless
Yield (mature)~120 kg/m²
Cycle3 cycles/y
Wholesale RU₽110-160/kg
Variants usedMewa RZ, Khassib F1
$32M
Revenue Year 8 · 30 ha
15%
Premium herbs & salads
Basil, arugula, lettuce mix
Yield (mature)60-80 kg/m²
CycleDFT/NFT, 25-35 day
Wholesale RU₽350-650/kg
Variants usedSalanova, Carmoli
$15M
Revenue Year 8 · 30 ha
Total revenue at full mature 30 ha · Year 8 (2034)
$105M
09 · MODULAR ARCHITECTURE

Six modules × 5 ha · phased build · shared infrastructure

M1 Variant B PILOT M2 Variant A M3 Variant A M4 Variant C M5 Variant C M6 Variant A CLUSTER HQ · CO₂ AMINE PLANT · HEAT HUB Shared infrastructure built in pilot — sized for full 30 ha
Module = 5 ha greenhouse + utilities

5 ha = optimum size to qualify as an industrial-cluster module under federal subsidy regulation, while keeping site logistics and crop teams operational.

Pilot M1 sized for the whole cluster

Cluster HQ, CO₂ amine plant, heat hub, substation, processing facility — all built in the pilot, saving 30-40% CAPEX on Modules 2-6.

Variant mix · 4 fresh + 2 premium

4 modules in Variant A (fresh for X5/Magnit/Lenta retail); 2 modules in Variant C (premium processing for China export).

De-risking through phasing

If the market for fresh produce softens, M5 can be re-routed to processing without sunk costs in unsuitable equipment.

10 · PILOT SITE PLAN

Plot 1 · adjacent to EcoCity MSW

EcoCity MSW 200 kt/y Heat + CO₂ pipeline GREENHOUSE 5 ha Venlo Gen 4-5 PROCESSING B 5 000 m² CLUSTER HQ CO₂ plant SUBSTATION 15 MW DORM SHOP
HEAT & CO₂ TIE-IN

~50-200 m from MSW to plot boundary
minimal losses, low CAPEX (right next door)

POWER SUPPLY

15 MW pilot capacity · 1st reliability category
from EcoCity CHP (8-10 RUB/kWh)

CO₂ AMINE PLANT

Centralised amine/MEA capture
sized for 30 ha cluster, paid back at pilot stage

CLUSTER HQ

Operations control, lab, dispatcher, offices
serves all 6 modules of the future programme

PROCESSING B

5 000 m² packing & light processing
retail-ready cocktail tomato + snack range

11 · PILOT SCOPE

What we build in Module 1 (Variant B)

The pilot includes not only the 5 ha greenhouse but cluster-wide infrastructure sized for 30 ha — letting Modules 2-6 be built 30-40% cheaper and securing the unit economics of the entire programme.

🌿

Greenhouse 5 ha · Venlo Gen 4-5

4 mm diffuse glass, 8 m gutter, 2-layer Svensson screens. LED+HPS at 250 µmol/m²/s. Grodan rockwool hydroponics + DFT/NFT for greens. Full Priva automation.

$27.6M
📦

Processing Variant B (5 000 m²)

Aweta optical sortation, Multivac MAP packaging, retail-ready clamshells, snack tomato (cherry/cocktail), cold storage delivering 30-50 day shelf life.

$19.7M
🏢

Cluster HQ (1 500 m²)

Management offices, control room, dispatcher, QC laboratory. Architectural core of the cluster, serving all 6 modules.

$1.2M
⚗️

CO₂ amine plant + heat hub

Pentair Haffmans-class. Sized for 30 ha. Pre-DD ready: TR CU 021 + GACC. Heat substation with 1500 m³ buffer for 30 ha.

$8.0M

15 MW substation · 1st category

Redundant dual-feed transformer station. Ready for expansion up to 70 MW as Modules 2-6 come online without service interruption.

$3.0M
🏘️

Housing, warehouse, utilities

Staff dormitory 1 800 m², warehouse 2 500 m², workshop 1 200 m², roads, fencing, gatehouse, artesian well.

$3.5M
12 · WORLD-CLASS TECHNOLOGY

Equipment stack & certifications

🌡️
Climate computer Priva Connext
PRIVA · NL

Full automation: ventilation, heating, CO₂, screens, irrigation. One of 3 global standards for high-tech greenhouses.

💡
LED+HPS hybrid 250 µmol/m²/s
SIGNIFY · FLUENCE

DLI target 25-30 mol/m²/day — mandatory for Oryol's 53° N latitude in winter. 18 GWh/y LED consumption from MSW CHP.

💧
High-pressure fogging Schenker
SCHENKER · COOLNET PRO

Micro-droplet ≤30 µm fogging for climate control. Drops temperature 4-7 °C in summer with no leaf wetting.

🌱
Hydroponics Grodan + DFT/NFT
GRODAN · LOGIQS

Rockwool for tomato/cucumber + mobile gully for greens. 95% water recirculation. Fertigation with EC/pH dosing via Priva Nutriflex.

📊
Letsgrow.com data layer
LETSGROW · NL

Cloud yield analytics, climate analytics, benchmarking against top NL growers. Real-time investor reporting.

📦
Aweta sortation + Multivac MAP
AWETA · MULTIVAC

Optical sorting by size/colour/defect, retail-ready vacuum/MAP packaging. Wight Salads / Mucci Farms tier.

🛡️
Certifications: GLOBALG.A.P. + GACC
GLOBALG.A.P · 海关总署

GLOBALG.A.P. for EU/RU retail. GACC registration for Chinese export. TR CU 021/2011 + Rosselkhoznadzor for the Russian market.

⚗️
CO₂ purification Pentair Haffmans
PENTAIR · NL

Amine/MEA capture from MSW flue gas. Reference AVR Rotterdam (60 kt/y CO₂ to greenhouses). Food-grade, 85-90% efficiency.

13 · PILOT SCHEDULE & BUDGET

24-28 months · $66M Seed

Execution timeline (from Seed close)

M 1-3
Legal & design

SPV setup, design documentation, EcoCity technical specs, primary approvals

M 4-9
Infrastructure tie-in

Heat pipeline from MSW, 15 MW grid, well, roads, gatehouse, fencing, foundations for HQ & processing

M 10-18
Construction & install

Venlo greenhouse (NL/CN supply 9-12 mo), climate + LED, hydroponics, processing hall, CO₂ amine plant, dorm

M 19-22
Commissioning & first plantation

Climate calibration, hydroponics startup, first tomato/cucumber plantation. Priva-grade staff training in parallel.

M 23-28
First commercial product

Month 24 — first tomato & basil harvest. M26-28 — ramp to 60% mature. Retail contracts signed.

Seed budget structure · $66M

Greenhouse 5 ha Venlo Gen 4-5$27.6M
Processing Variant B$19.7M
CO₂ amine + heat hub (sized 30 ha)$8.0M
15 MW substation + 1st category$3.0M
Housing + warehouse + utilities$3.5M
Cluster HQ + offices$1.2M
Pre-operating capital (6 mo)$2.5M
Engineering + PM (12%)$3.0M
Total Seed Round
$66.3M
14 · PROGRAMME 30 ha

Six modules · 8-year roadmap · $253M

Module
Plot
Type
Launch
Use of capital
CAPEX
M1 · PILOT
:0060101:804
B (light)
2026-28
5 ha + cluster HQ + CO₂ amine + processing B
$66.3M
M2 · Fresh
:0060101:432
A (pack)
2028-29
5 ha + retail logistics, M2 «Krym»
$24M
M3 · Fresh
:0060101:432-433
A (pack)
2029-30
5 ha, shared infra with M2, X5/Magnit contracts
$24M
M4 · Premium
:0000000:27884
C (full)
2030-31
5 ha + Variant C (paste, IQF, dried) for China export
$52M
M5 · Premium
:0000000:27884
C (full)
2031-32
5 ha, Variant C facility expansion
$32M
M6 · Fresh
:0060101:433
A (pack)
2032-33
5 ha, expansion-phase completion
$24M
⚙️ Rail terminal
:0000000:6116
Logistics
2030-32
Container terminal, GACC zone, China export
$10M
Total Greenhouse
30 ha
Total Modules
6
Period
2026-2034
Total Program CAPEX
$253M
15 · CHINA EXPORT

Plot 5 rail terminal → 14 days to Shanghai

🌿
Plot 4 · Variant C processing

Tomato paste, IQF frozen mix, sun-dried tomato, aseptic tomato puree

🚂
Plot 5 · Rail terminal «Luzhki-Orlovskie»

Container terminal, GACC zone, customs, phyto inspection

🛤️
Rail corridor Oryol → Manzhouli

Via Moscow-Sukhinichi-Bryansk-Irkutsk-Manzhouli. ~9-11 days to the Chinese border.

🇨🇳
Shanghai · Guangzhou · Beijing

Premium retail (Hema, Sam's Club), HoReCa, e-commerce (JD.com, Tmall Fresh)

Target product mix

Premium products with long shelf life: tomato paste, IQF mix, dried basil, cherry tomatoes in MAP packaging (45-day shelf). Standalone fresh — only for high-end Hema format.

Edge vs peers

Russian produce in China is associated with natural / GMO-free / clean ecology. Naturalness premium 30-50% over Chinese producers, especially for children-food and premium households.

Most Energy role

Mingkuan Peng (HK) handles distribution: negotiations with Hema/JD/Tmall, GACC certification, brand localisation (中文 packaging), standards translation.

Export volume (Year 8)

~30% of Modules 4-5 (Variant C) output goes to export = ~3-4 thousand tonnes of finished processed produce/year. Revenue $20-25M in the export channel.

16 · FINANCIAL MODEL 2026-2034

Revenue, EBITDA, Cumulative CAPEX

Year
2026
2027
2028
2029
2030
2031
2032
2034
Mature ha
1+ramp
5
10
15
20
30
Cumul. CAPEX, $M
60
66
90
135
175
215
245
253
Revenue, $M
1.5
13
26
42
62
82
105
EBITDA, $M
(1)
(0.5)
3
7
13
20
28
38
EBITDA margin
23%
27%
31%
32%
34%
36%
Free Cash Flow*, $M
(60)
(6)
(21)
(38)
(28)
(20)
(2)
+30
Tranche close
Seed
Series A
Series B
Exit / IPO
* FCF before financing. Assumptions: 75 kg/m² tomato (vs top-tier 90+), wholesale prices without brand premium, OPEX benchmarked vs ECO-Culture/LIPSADO. All figures in USD at 95 RUB/USD; EUR at 1.08 USD/EUR.
17 · ROI & PAYBACK

Project IRR 22-24% · Payback 7-8 years

Project IRR (unlevered)
22-24%
Conservative, no leverage. With 60% LTV → equity IRR 30-35%.
Payback Period
7-8 yrs
Year 7 — cumulative EBITDA = total CAPEX. Full payback by 2033-2034.
Equity Multiple (8 yrs)
2.8×
$253M in → $710M cumul. EBITDA + terminal value (10× Year 8 EBITDA).
Terminal Value (2034)
$380M
10× EBITDA multiple — reasonable for an institutional-grade agri asset.
SENSITIVITY · Selling prices
−20% to baseline
IRR 16%
−10%
IRR 19%
Baseline
IRR 23%
+10%
IRR 27%
SENSITIVITY · Yield
−15% (60 kg/m²)
IRR 17%
−5% (71 kg/m²)
IRR 21%
Baseline 75 kg/m²
IRR 23%
Top-tier 90 kg/m²
IRR 28%
18 · TEAM & PARTNERS

Founder + EcoCity + Most Energy + open positions

AK
Aslan Kaa
FOUNDER · CEO

Architect and initiator of the project. Financial modelling, investor relations, China partner negotiation. Track record in cross-border deals.

PM
Mingkuan Peng (彭明宽)
STRATEGIC PARTNER · CHINA IR · NON-FINANCING

Owner, Most Energy Investment Limited (Hong Kong). Exclusive partner for Chinese institutional LPs and importers. HK structure as bridge. Not a project financier.

EC
JSC «EcoCity» — Oryol MSW plant
OPERATING PARTNER · INFRASTRUCTURE

Supplier of heat, CO₂ and electricity. Management and full human/production resource committed. Contract signed; type/terms disclosed at DD.

CFO
Chief Financial Officer
OPEN POSITION · CLOSE BY SEED CLOSE

International experience, IFRS, China-investor track record. Targeting Big-4 / agri-fund / EBRD background.

CGM
Chief Agronomist (Priva-level)
OPEN POSITION · CLOSE BY MONTH 6

NL/RU experience in 5+ ha high-tech greenhouses. Priva/Hortimax certified. Salary ₽400-800k/mo + bonus. Targeting LIPSADO, ECO-Culture, or EU returners.

DOP
Director of Production
OPEN POSITION · CLOSE BY MONTH 9

Russian greenhouse-launch experience, fresh-produce processing background (Multivac/GEA equipment). 12+ years in industry.

19 · CHINA GATEWAY PARTNER

Most Energy Investment Limited · Hong Kong

Mingkuan Peng (彭明宽)

Owner · Most Energy Investment Limited
Strategic Partner of Eagle's Nest. Not a financier — exclusive partner for raising Chinese institutional LPs and premium-food importers.
HONG KONG · 香港
HK STRUCTURE · INTERNATIONAL-FRIENDLY

Most Energy is registered in Hong Kong — a neutral jurisdiction, well understood by Chinese and European LPs. Simplifies negotiations and reduces country risk.

BELT & ROAD ALIGNMENT · 一带一路

Eagle's Nest is positioned within BRI logic: Russian agricultural infrastructure → Chinese consumer market. Opens access to BRI-affiliated funds and state soft-power.

EXCLUSIVE CHINA LP MANDATE

Most Energy holds an exclusive mandate to introduce Chinese investors at Series A and Series B. Performance-based fee, not project financing.

EXPORT CHANNEL ACCESS

Direct relationships with Chinese importers / distributors / e-commerce platforms (JD, Tmall). Brand localisation, GACC certification.

20 · RISK MITIGATION

What we do against DD-failures

!
EcoCity contract — disclosed at DD
Earlier deck did not state the contract type (MOU? firm? take-or-pay?). This was the most material red flag.
MITIGATION: At NDA stage we provide the full contract text with type, volume, RUB/Gcal tariff, term and take-or-pay clauses.
!
CAPEX honestly benchmarked
Earlier deck: $1M for 30 ha (240× under reality). It killed fundability as a technical pitch.
MITIGATION: Financial model built on Venlo Gen 4-5 EU 2025 benchmarks: KUBO/Dalsem/Certhon. Wageningen UR KWIN-Glastuinbouw. Russia premium +15-25% included.
!
CO₂ — amine treatment is DD-ready
Earlier deck proposed direct flue-gas injection — guaranteed failure of TR CU 021 + Rosselkhoznadzor.
MITIGATION: Pentair-class CO₂ amine plant included in Seed CAPEX. AVR Rotterdam reference. TR CU 021 + GACC compliance pathway documented.
!
Timeline 24-28 months (not 12)
Earlier deck claimed 12 months to first harvest — physically impossible (9-14 mo equipment lead time + install + permits).
MITIGATION: Realistic 24-28 mo schedule. Interim milestones: M9 — infra ready, M18 — greenhouse + LED ready, M22 — first plantation.
!
Team — open positions disclosed
Earlier deck only showed the founder. An institutional LP closes the deck on this slide.
MITIGATION: Honest disclosure: founder + EcoCity + Most Energy + 3 open positions with closing target 6-9 mo. CFO/Agronomist budgeted in Seed.
!
Phased capital — de-risks each tranche
Earlier deck asked for $35M one-shot — too risky for seed-stage.
MITIGATION: Seed/A/B tranche structure with milestone gating. Series A does not close until Module 1 hits its EBITDA target. Capital at risk is bounded.
21 · TRANCHE STRUCTURE

Phased capital · milestone-gated · investor-friendly

SEED · 2026
$66M
2026 close · 24-28 mo execution
Use of funds:
Plot 1 pilot 5 ha (Variant B)
Cluster HQ + CO₂ amine plant
15 MW substation
Pre-operating capital 6 mo
TRIGGER: ✓ NDA + DD pack
✓ EcoCity contract disclosed
✓ CFO + Agronomist hired
SERIES A · 2028
$90M
2028 close · Modules 2-3
Use of funds:
Plots 2-3 Modules 2 + 3 (Variant A)
Retail logistics M2 «Krym»
X5/Magnit/Lenta contracts
Additional working capital
TRIGGER: ✓ Module 1 mature
✓ EBITDA Year 1 ≥ 23%
✓ Retail contracts signed
SERIES B · 2030
$97M
2030 close · Modules 4-5-6 + rail
Use of funds:
Plot 4 Modules 4-5 + Variant C
Plot 5 rail terminal + GACC
Plot 3 Module 6 completion
Premium processing for China
TRIGGER: ✓ Modules 2-3 ramp ≥80%
✓ GACC registration done
✓ Most Energy China LPs onboarded
Total programme · 8 years · 30 ha · 6 modules
$253M
22 · THE ASK

Seed Round 2026

SEED ROUND · MODULE 1 PILOT
$66M
≈ ₽6.3B · 2026 close · 24-28 mo execution
USE OF FUNDS
Greenhouse 5 ha Venlo Gen 4-5 + LED — $27.6M
Variant B processing (5 000 m²) — $19.7M
CO₂ amine plant + heat hub (cluster) — $8.0M
15 MW substation + 1st category — $3.0M
Cluster HQ + housing + utilities — $4.7M
Pre-operating + engineering + reserve — $3.0M
KEY MILESTONES
M0 close — all EcoCity tech specs received
M9 — infrastructure tied in, foundations done
M18 — greenhouse + LED + processing commissioning
M22 — first plantation of 3 crops
M24 — first harvest, retail contracts
M28 — Year-1 ramp 60% mature → Series A trigger
LET'S BUILD WORLD-CLASS AGRO IN RUSSIA

LET'S TALK.

Next steps · Due diligence · Term sheet
Eagle's Nest is the only Russian agro-cluster combining MSW energy, high-tech Venlo greenhouses, and an exclusive China channel through Most Energy. Ready for NDA and due diligence.
FOUNDER · CEO
Aslan Kaa
Architect of Eagle's Nest project
📞 +7 (969) 795-55-55
📞 +7 (925) 203-77-77
🌐 www.aslankaa.com
✉️ aslankaa@yandex.ru
CHINA IR PARTNER
Mingkuan Peng (彭明宽)
Owner, Most Energy Investment Limited (HK)
NDADD PACKTERM SHEETCLOSE
EAGLE'S NEST · INVESTMENT MEMORANDUM · 2026 CONFIDENTIAL · 105.59 HA · ORYOL OBLAST
24 slides · v2 EN · 2026-04-29