Ecompany

This article is a featured article, one of our top articles.

Ecompany electricity - Lovineft petrochemicals - Swift Oil gas stations - Adamas steel production - Pinas Automobile car construction - Aventis banking & insurance

Ecompany
Your Energy, Our Duty
Name	Ecompany
Type	state-owned and public company
Product	Green electricity
Origin	Lovia
Founded	1989 by Nikolay Medvedev as Veprom
Owner(s)	Kingdom of Lovia
Headquarters	Old Port, Newhaven Airport Avenue 3
Profit	€ 5.2 billion (2009)

Ecompany is a state-owned Lovian company that produces and distributes 100% green electricity. It was founded as the Veprom gas, oil and electricity company. In 2009, the board of directors of Veprom discussed the possibility to become a completely green company. Company owner Yuri Medvedev, who made the proposal, suggested to split up the different parts of the company and to bring them under in a general Ecompany holding. Ecompany is the largest company of Lovia and was the only electricity provider in Lovia until December 2009 when Walkernet became operational. In 2010, after the Economic Involvement Act was voted into law by Congress, 60% of Ecompany's stocks were bought by the government, bringing it under state control. Since then it has remained largely the same although with funding from the government and less funding from customers. The company has several offshore wind turbines to power the country. Only Ecompany's energy and water subsidiaries have government control.

History and owners

Ecompany was started in 1989 as Veprom when Nikolay Medvedev found out that the sea around the Lovian islands was rich of gas and oil. He could bore for those resources, but his company had to hand over 40 percent of the stocks to the state. Yuri agreed and immediatly began to build platforms. Later on, the company also decided to deliver electricity, more specifically, green electricity. Ecompany is currently the largest corporation based entirely within Lovia (there are other multinational companies using Lovia's status as a tax haven).

One of the company's first CEOs was Russell Brandt, a mutli-millionaire businessman who had been known for his work with Honecker Holdings, Ltd. Brandt was influential in Yuri Medvedev's proposal to convert Veprom into Ecompany and an all-green corporation. Brandt also was responsible for the creation of LovOilCo, which took over all petroleum mining operations from Veprom.

Since its shift of focus to electricity, Ecompany has constructed several parks of wind turbines. These harvest the power of the Pacific Ocean, which blows strong wind across Lovia to turn the turbines. In 2010, the Abby Array, a group of photovoltaic solar panels, was constructed in the Abby Highlands to provide power to Kings. Wind and solar power make up all of the energy output in Lovia, making the country virtually fossil fuel free in the energy aspect.

In 2009, the board of directors of Veprom discussed the possibility to become a completely green company. Company owner Yuri Medvedev, who made the proposal, suggested to split up the different parts of the company and to bring them under in a general Ecompany holding. Several new offshore turbines were constructed.

In 2010, because of the Economic Involvement Act, 60% of Ecompany's stocks were purchased by the Lovian government, bringing it under state control by the Department of Energy and Environment. Since Medvedev was both the owner of Ecompany and the Prime Minister of Lovia, no serious control changes occured, although several directors were replaced by DoEE representatives. Since then, no serious changes have occurred in Ecompany, although now most the vast majority of funding comes from the Government instead of customers.

Green electricity

The Ecompany building

Ecompany foresees 100% green electricity for the entire nation. The electricity is produced by a total of 120 offshore wind turbines. The second product delivered by Ecompany is electricity. Under the old companies name, only 52% of the electricity was produced this way. Ever since the restructuring, the subsidiaries of Ecompany also started using more environment friendly techniques. Ecompany owns the wind turbines and produces and distributes electricity. It does however not own the distribution net, which is maintained by the state of Lovia. The social and environmental duties that the company holds are reflected by the company slogan 'your energy, our duty'.

Ecompany has several tariffs at which it sells its power. Prices are rather low compared to neighboring countries and green power world wide. Tariff packs by Ecompany include:

• 100% At Home : covers the regular use of electricity at home at a fixed price
• 100% [Eco]nomic : a special tariff for companies that make an effort to be environment friendly
• 100% Unlimited : unlimited home use of electricity at a price that increases with the usage

Subsidiaries

Lovineft

Lovineft is one of the leading petrochemical companies of Lovia. Founded on April 3, 1965, the main plant complex is located in Sofasi. From 1985 on a second complex has been constructed in Newhaven. Those two are now the main locations. Specializing in petrochemical manufacturing, the company produces ethylene, polyethelene, polyvinyl chloride, polypropylene and other chemical building blocks for use in the manufacuture of plastics, textiles, and other consumer and industrial products, but also in the pharmaceutic sector. The company has a total of 6 manufacturing plants supplying a significant portion of petrochemicals used in the entire Lovian economy. The company also exports products to the United States and countries in Europe.

Swift Oil

Swift Oil is a gasstation company owned by Ecompany, one of the world's seven supermajor oil companies. It has it's main seats in Noble City, and is active in more than 180 countries. It is engaged in the marketing and transportation of oil and gasoline. It also owns a brand of gas stations named after the company itself. The company was originally founded as Standerd Oil of Lovia, or Solov. It has had very good contacts with Arabian companies untill it was taken over by Ecompany, then Veprom, in 1990. Since 2009 it also offers a recharge of electric cars.

Adamas

Adamas Steel production is a Lovian steel company, located at the Old Port in the city of Newhaven. It is Lovias' second oldest and second largest steel producer, and one of the largest industrial complexes operating in Kings. It was first commissioned in November 2007, but officially initiated operations in January 2008. The company was started up by Ecompany, then Veprom, in order to expand their reach throughout various economic sectors. Since 2009 new techniques are being used by the company in their fabrication of steel and derived products so that pollution has dropped down to 26 percent of the pollution by the former production process.

Aventis

The Aventis Banking Company of Lovia is a public owned institution acting as the central bank of the country. Aventis is the only central bank in the world that is not owned by the state. It was established in 1994 to act as an insurance company, but grew to a public banking company. The Bank's building is located in the Downtown neighborhood in Noble City, on Freedom Avenue. The bank offers Veprom-stocks and communicates with the company about the LSMI notes. 20% of Aventis is owned by Veprom.

Partners and contracts

Quality Oil

Quality Oil is a Libertan company of gas stations. It was founded in 2007 and is a part of the Quality Holding. Quality Oil owns a big oil refinery in the Companies Place, Libertas. They deliver oil (in the form of fuel and diesel for cars and trucks, and kerosene for airplanes). The directory of this company lies with Quality Etcetera and the director Dimitri. It is one of the oldest companies of Libertas and was one of the two companies, together with the Quality-chain, that formed the fundamental principles of the Quality Holding.

Taiyō Alternate Energy (TAE)

TAE is a Lovian electrical improvement company founded in 2012 by Taiyō no Eisei that improves appliances and finds alternate energy sources for powering Lovia. They partnered with Ecompany in finding ways to improve energy efficiency as well as find new sources of energy.