Biofuels, Biogas, Biomass, Clean Energy, Cleantech venture capital, Crude Palm Oil, Malaysia, Renewable Energy

Borneo Energy to acquire equity interests in sustainable power

March 3, 2008 (Datamonitor) – Sustainable Power has announced that Borneo Energy Sendirian Berhad, a wholly owned subsidiary of Borneo Oil and Gas, has entered into a share subscription agreement to purchase 50 million restricted shares of Sustainable Power.

The initial deposit required per the agreement has been received by Sustainable Power (SSTP). Sustainable Power also entered into a technical collaboration term sheet with Borneo Energy Sendirian Berhad (BOE).

The agreement for the technical collaboration will be implemented in two stages. Stage one entails the immediate fabrication and successful commissioning of a mini biofuel reactor in Malaysia to undertake trial production of biofuel using Malaysian-sourced feed stocks such as palm oil, fresh fruit bunches or waste, coconuts, wood chips and other industrial waste. The site in Malaysia will be determined by BOE. Stage two entails the fabrication and successful commissioning of commercial type biofuel reactor plant(s) across Malaysia and Indonesia.

Scott Hoerr, director of SSTP, said: “We are ecstatic to have identified the availability of nonfood feedstock in large enough quantities to have a significant impact on the alternative fuel markets. We believe the introduction of SSTP in Malaysia is a major step towards replacing the world demand for petroleum-based products and helping the world ecosystem.”

Advertisements
Standard

2 thoughts on “Borneo Energy to acquire equity interests in sustainable power

  1. Biomass World 2008
    23-24 Sep, 2008 – Beijing

    Forum on Biomass conversion to Power, Gas and Liquid Fuels

    “Generating Power and Fuels from Biomass – On Sustainable Economics,
    Technologies for Commercialisation”

    • Market/Environmental Economics, Regulatory and Investment climate for Biomass conversion projects
    • Biomass to Power: Direct Fired, Gasification & Co-fired models
    • Biogas and Biomass to Gas
    • Biomass to Liquid Fuels: Synthetic Fuels, Cellulosic Ethanol/Butanol & Chemicals
    • Financing, Risk Management and Carbon Emission Mitigation Options

    Call for papers
    You are invited to submit a presentation proposal either for a 30-minute paper or a 60-minute workshop, with a presentation proposal submittal deadline of April 28, 2008. Papers may include case studies, current and evolving projects and technologies, and implementation progress.

    For more information, call 65-63469146 or email leelin@cmtsp.com.sg

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s