Cool Planet Acritaz sign agreement
Technology supplier Cool Planet Energy Systems and Acritaz Greentech, a group of companies that bring biomass processing and biotechnology projects to plantations, have signed an agreement to establish a number of commercial facilities in Malaysia.
The partnership says it plans to start building the first plant next year, when the two companies will source biomass materials local to the local region, including palm plantation waste products such as empty fruit bunches, wood and bark waste, to make renewable fuels for the Asian market.
Acritaz will invest $60 million (€44 million) in the first facility before the end of 2013. It will be located in the Malaysian state of Johor.
Acritaz and Cool Planet will then construct multiple facilities across the country, with Acritaz purchasing proprietary equipment and consumables from Cool Planet in the construction and operation of the facilities.