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UK biomethane group signs large Philippines deal

UK biomethane company Gazasia has signed a proposed $150 million (€119 million) agreement with Philippines-based Aboitiz Equity Ventures (AEV).

The deal, which was signed in London, will see both companies jointly develop and operate organic waste-to-fuel plants across the Philippines particularly for use in the transport sector.

The deal is split so that Gazasia will provide technical expertise, specialised equipment and project management while AEV will provide the core funding and the access to core regional markets.

At the time of writing AEV said the terms and conditions of the project  will be finalised in a definitive agreement to be agreed upon by both parties in the near future.