AsiaBio Expands Its Reach In Renewable Energy Development With Singapore-Based Private Firm

AsiaBio Expands Its Reach In Renewable Energy Development With
Singapore-Based Private Firm

Following a mega project worth RM30 million it signed with Coral Alliance
Sdn Bhd last month, Asia Bioenergy Group (AsiaBio) has on Tuesday marked
another milestone by expanding its reach in renewable energy development
with the signing of its Memorandum of Intent with Rangkain Iltizam Sdn Bhd
(RI).

With the signing of the agreement, AsiaBio is expected to invest in RI, a
Singapore-based privately held renewable energy development company which is
owned by KRU Energy Asia Pte Ltd (KRU), and assist in the raising of funds
for the further development of the latter's Renewable Energy Projects.

The executive director of AsiaBio, Tan Sik Eek (pic) said that its
organisation has never strayed from its focus on renewable energy and
biotechnology.

"Over the year, we have looked into, and filtered through companies we
believe have the potential and know-how of taking the development of
renewable energy and biotechnology further.

"KRU Energy Malaysia has over twenty years, proven their mettle and we look
forward to what this added venture could bring to the group," he remarked.

With the signing of the agreement, AsiaBio and RI are expected to work
together and develop biogas energy generation facilities, organic fertiliser
production facilities, organic animal feed production facilities as well as
proprietary or contract farming of sorghum.

Remarkably, RI is expected to raise up to RM6,000,000 via the placement of
100,000 RI shares. Meanwhile, AsiaBio will consider the subscription of
these Placement Shares, and actively assist RI in the sourcing of
subscribers as well as raising capital for the development of the projects.

Aside its large operational facilities namely In Germany and Canada,
producing renewable "green" energy on a daily basis, Tan asserted that the
uniqueness of KRU lies in their technology, having deployed a second
generation, carbon negative, bio-methane gas energy production system for
the power generation and organic fertiliser production.

"The significant differentiator of this "second generation" classification
is its difference from the first generation, corn-produced ethanol.

"The controlled bio-digestion of sorghum crops result in the creation of
bio-methane gas, which is then burned in a combined heat and power (CHP)
system that generates renewable electricity and heat," he said, adding that
KRU is leveraging on its proven processes for bio-methane production of
which it has successfully harnessed in Germany over the past 25 years.

"KRU has also developed the term "AgroGas" to show a new age of BioGas
generation," he stressed.

Meanwhile, AsiaBio's other executive director, Leung Kok Keong said the
collaboration with KRU will not only enable the production of carbon neutral
renewable energy "but also stimulate and inject new economic growth and
sustainable revenue to the local community."

"KRU will be the developer, co-owner and managing partner of this unique
renewable AgroGas, with its primary focus on a utility-scale project," he
explained.

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Link to Original Article:
http://malaysiandigest.com/frontpage/29-4-tile/649040-asiabio-expands-its-re
ach-in-renewable-energy-development-with-singapore-based-private-firm.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com