Madoqua Renewables Holding Limited, an international company from the Netherlands, plans to invest €900 million in the construction of a waste recycling plant in Ternopil. It is noted that €40 million will be spent on the project development stage, and capital investments will amount to €300-400 million. The plant will be aimed at processing agricultural waste, including molasses, using wastewater. 

Madoqua, founded in 2016, specialises in the development and operation of projects that use renewable energy sources and produce environmentally friendly chemicals and gases, Ukraine Invest reports .

The main product will be methanol, which is considered an environmentally friendly "green fuel". Methanol will be used in industry for the production of formaldehyde, in the paint and varnish industry for solvents, and as an additive to liquid fuel for internal combustion engines. It is also used in the production of biodiesel.

The project is expected to create more than 500 direct jobs and over 2,500 indirect jobs. 

The company also plans to build a bioethanol plant in Lviv region, which will be launched in late 2023. This plant will specialise in processing agricultural waste, such as wheat and molasses