MRNA Scientific, a subsidiary of BioNexus Gene Lab Corp. (BGLC), has signed a three-year strategic teaming agreement with Protech Builders Sdn. Bhd. This collaboration aims to jointly develop and operate biogas plants across Malaysia, marking BGLC's entry into the renewable energy sector. The partnership will focus on converting plantation and agricultural wastewater into renewable energy.
BGLC and Protech Builders will make an initial financial contribution of up to RM1,000,000, approximately USD 235,000, to fund feasibility studies and project development activities. This investment leverages BGLC's market knowledge and chemical raw material expertise alongside Protech's extensive experience in mechanical and electrical engineering. Protech holds a G7 construction license, the highest grade in Malaysia, and has completed over 300 projects.
This strategic move is expected to enhance BGLC's revenue generation capabilities by capitalizing on Malaysia's growing biogas market. The company anticipates securing multiple biogas projects over the next three years, ranging from small to large-scale installations. This diversification into sustainable energy solutions aligns with broader environmental goals and expands BGLC's operational scope.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.