Dual-Role Facility Ushers In New Era For Waste Management And Energy Production In Paphos

by THEFUTURE.TEAM

September 22, 2025

Project Overview

A pioneering private facility in the Agia Varvara industrial zone of Paphos is set to commence operations in the first half of 2026. This dual-purpose plant will not only process organic waste but also generate electricity by converting waste-derived biogas into power for the grid. With a total investment nearing 11 million euros, the installation is poised to make significant contributions to both environmental sustainability and energy security.

Innovative Waste Conversion And Energy Production

The facility employs state-of-the-art anaerobic digestion technology to transform various organic wastes into biogas. This gas is subsequently used in a power generation system that produces electricity at an estimated cost of just 5 cents per kilowatt-hour. By processing more than 100,000 tonnes of organic waste annually, the plant will not only meet the energy requirements of thousands of households but also serve communities beyond Paphos.

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Operational Excellence And Continuous Energy Supply

Unlike conventional renewable sources such as solar or wind, which are reliant on weather conditions, this facility offers continuous 24-hour operation. Thanks to an integrated biogas storage system, it avoids the intermittency issues typical of other renewable installations, potentially delivering up to ten times the energy output of comparable photovoltaic parks. This continuous production is instrumental in addressing long-term energy supply challenges.

Cutting-Edge Technology And Market Impact

Developed by BioElectric GCC Ltd, a company established in 2013, the project leverages advanced Austrian technology to ensure both efficiency and reliability. The initiative is set to become the largest biogas production unit in Cyprus, marking a significant milestone in the nation’s transition towards a circular economy, green growth, and sustainable energy initiatives.

Collaborative Waste Management Strategy

The project also excels in its approach to waste management. Partnerships are already underway with hotels, restaurants, and various businesses to ensure proper segregation and collection of organic waste, further optimizing the facility’s performance. The integrated design not only supports waste reduction strategies but also emphasizes the scalability of sustainable waste management practices across Cyprus.

By seamlessly merging waste management with energy production, this groundbreaking facility is setting a new standard in renewable energy infrastructure and environmental responsibility.

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Cyprus-Based ASBIS Hits Record $1.05bn In Monthly Revenue, Up 216% Year On Year

by News Editor

October 21, 2026

The technology distributor ASBIS Group, headquartered in Limassol, has exceeded $1 billion in monthly sales for the first time in its history, reporting preliminary consolidated revenue of $1.05 billion in September 2026, more than three times the amount recorded a year earlier.

The figure represents a 216% increase from $332 million in September 2025, making it the highest-revenue month in the company’s history.

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ASBIS reported its strongest sales growth in servers and server components, while CEO Serhei Kostevitch pointed to growing demand for artificial intelligence solutions and computing infrastructure as an opportunity for the business.

For a company operating across Europe, the Middle East and Africa, September marked a new sales milestone following several months of substantial year-on-year growth.

Kostevitch attributed the record performance to the group’s existing operations, highlighting its broad product portfolio, international market presence and strong relationships with manufacturers and trading partners.

“Most importantly, this result is the outcome of our regular operating activities,” he said.

The CEO also highlighted the company’s portfolio of projects as a reason for confidence in continued AI-related development.

However, the group’s growth was not limited to AI-related technologies. Smartphones also performed strongly in September, with Kostevitch stressing that “we are growing beyond the AI segment as well.”

Kazakhstan, the United Arab Emirates and Ukraine accounted for the largest shares of ASBIS’s September revenue, followed by Slovakia and Poland.

Growth Follows Record First Half

September’s results follow a period of strong financial performance for ASBIS.

In July, the company reported preliminary consolidated revenue of $531 million, an increase of 89% compared with the same month in 2025. August brought a further rise to $604 million, up 91% year on year.

September’s $1.05 billion figure represents a substantial increase on both months, although the company has not provided a detailed breakdown explaining the acceleration.

The results also follow a record first half of 2026, when ASBIS generated approximately $2.97 billion in consolidated revenue, up 76% year on year.

Net profit after tax reached $80.6 million, compared with $19.4 million in the same period in 2025.

The second quarter was particularly strong, with revenue reaching $1.69 billion, an increase of 78.7%, while quarterly net profit more than tripled to $44.3 million.

ASBIS has emphasised that its September revenue figures are preliminary estimates and may differ from the final reported results.

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