Six Businesses Vie for Top Prizes at WRI New Ventures Investor Forum in Mexico.

Business Editors

WASHINGTON--(BUSINESS WIRE)--Oct. 29, 2002

The World Resources Institute (WRI) announced today that six sustainable enterprises in Latin America are finalists in a competition that will be featured during the Third Annual New Ventures Investor Forum, to be held Nov. 14-15, 2002 in Monterrey, Mexico.

"Growth in production that is both profitable and environmentally-friendly is a necessity for Latin America," said Jonathan Lash, president of WRI. "Through WRI's New Ventures project, we hope to connect capital to outstanding investment opportunities that will generate social and environmental benefits."

WRI's New Ventures Investor Forums have facilitated the transfer of $4.4 million to sustainable entrepreneurs in Latin America. An additional $2 million is currently under negotiation. The first two forums, attended by hundreds of corporate leaders, bankers and entrepreneurs, were held in Brazil.

The six finalists for the forum in Monterrey were chosen from the fastest-growing sectors in Latin America, including organic foods and fibers, non-timber forest products and certified wood, ecotourism, renewable energy and clean technologies. The finalists, chosen by financial and industry experts, are:

-- AmazonLife S.A., a Brazilian pioneer in the manufacture and commercialization of leather-like rubberized fabric for the fashion industry. The company uses a unique raw material extracted from the Amazon and works with local indigenous and rubber tapper families.

-- Cafe La Selva, an upscale chain of Mexican coffee shops that operates through a unique alliance among small investors and the indigenous communities of Chiapas to offer certified organic coffee.

-- Comercio Alternativo, an organic foods company in Costa Rica that sells directly to consumers and specialty food stores. The company's mission is to become Costa Rica's leading supplier of value-added organic goods to national and international clients while stimulating organic market development and influencing production systems by working with small and medium agribusinesses.

-- Empresas ESM, a pioneer energy and environmental management company operating in Mexico that provides energy efficiency, renewable energy, water treatment and greenhouse gas mitigation services through the implementation of projects on a performance contracting basis.

-- Solar Trade Corporation, a company in Costa Rica that has the exclusive right to manufacture and sell industrial solar biomass coffee dryers designed by its non-profit affiliate. The innovative patent-pending technology delivers significant cost savings in energy while delivering improved coffee quality and environmental benefits.

-- TopAir, a Brazilian company uniquely positioned to manufacture and sell equipment to recycle automotive air conditioning and commercial refrigerants, which contain CFC gases that damage the ozone.

"Interest in venture capital investment is growing in Latin America, and we want to ensure that the region's sustainable business entrepreneurs get a share of the investments," said Luiz Ros, project director of WRI's New Ventures. "We know that investments will only flow to entrepreneurs with bankable business plans, so in addition to helping attract investors, New Ventures offers the finalists strategic and technical guidance."

In order to prepare for the competition, New Ventures provides all of its finalists with business mentoring services through partnerships with Citigroup, LEAD International, and the MBA programs of the University of Michigan, Columbia University, and University of California at Los Angeles, among others.

The winners, to be announced by a panel of judges during the forum in Monterrey, will receive pro-bono consulting services from Booz Allen Hamilton.

WRI's New Ventures Investor Forum is being organized in partnership with the Fondo Mexicano para la Conservacion de la Naturaleza (FMCN) and the Corporacion Andina de Fomento (CAF). It is co-hosted by the Tec de Monterrey's Graduate School of Business (EGADE).

Additional sponsors include Booz Allen Hamilton, Citigroup, Deutsche Bank Americas Foundation, Fondo ACCION of Fomento Social Banamex, Fundacion Mexicana para la Educacion Ambiental, Master Capital and Latin Finance.

The World Resources Institute (http://www.wri.org/wri) is an environmental research and policy organization that creates solutions to protect the Earth and improve people's lives.