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KUALA LUMPUR: BiON PLC, a provider of environmental engineering and renewable energy solutions, through its subsidiary BiON Sdn Bhd (BSB), has signed a Memorandum of Understanding (MoU) with Green Lagoon Technology Sdn Bhd (GLT) to form a merger and create the largest biogas plant operator in the country.
BiON CEO and CEO Datuk Syed Nazim Syed Faisal said that after the merger, the special purpose vehicle (SPV) will have a total of eight biogas power plants with a combined capacity of 13 megawatts.
“The plan is to list the SPV on the Main Board of Bursa Malaysia Securities Bhd or on any other stock exchange within three years from the date of the shareholders’ agreement,” he said today at a virtual press conference.
The MoU was signed by Syed Nazim and the director of GLT How Yoon For.
Syed Nazim said that renewable energy is the energy of the future, given the focus on climate change and other environmental issues affecting today’s society.
“Our biogas power plants promote the circular economy by generating green energy from waste from palm oil mills,” he said.
In addition, BSB also signed memoranda of understanding with SIRIM Tech Venture Sdn Bhd (STV), a wholly owned subsidiary of SIRIM Bhd, and LIPP Engineering Sdn Bhd, a German-based technology company involved in renewable energy, to explore companies in energy. renewable. projects, including waste-to-energy (WTE) projects.
The MoU with STV aims to explore cooperation in gas distribution through a virtual pipeline system, establish a bioenergy center to monetize agricultural and industrial waste, and pilot natural biogas production from plants. of existing biogas energy.
It was signed by Syed Nazim, SIRIM President Datuk Ahmad Fadzil Abd Majid, and SIRIM representative Ajmain Kassim.
Meanwhile, the MoU with LIPP Engineering aims to explore a joint collaboration in BSB’s biogas business, as well as the development of WTE projects. It was signed by Syed Nazim and LIPP Engineering Managing Director Dr. Hoh Choon Yee. -Called
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