Aboitiz Equity Ventures (AEV), Inc.’s subsidiary, Aseagas Corporation (Aseagas) has signed an agreement with Absolut Distillers, Inc. (ADI) for the supply of effluent discharge from ADI’s plants located in Lian, Batangas. The effluent will be converted to biomethane gas to be used as fuel for vehicles. Initially, a pilot plant will be constructed with further development dependent on its success.
Aseagas is at the final stage of its land acquisition for the site of its waste-to-fuel plant. Construction of this plant is expected to proceed after the land acquisition is completed.
The biomethane project is a joint venture between AEV and Gazasia Ltd., a UK based company. AEV will provide the core funding for the project and access to regional markets in the
Philippines. Gazasia will provide technical expertise, specialized equipment and project management.
Stephen G. Paradies, AEV senior vice-president and chief financial officer, said Aseagas is at the final stage of its land acquisition for the site and plans to start construction of the waste-to-fuel plant in the second quarter of next year. Completion is expected eighteen months thereafter.
“We’re just finalizing the land purchase. As soon as we are done with that, we order the equipment,” Paradies said. He added that Aseagas will spend $47 million for the project including land acquisition and plant equipment which will come from Europe.
The official said the company is already in talks with possible buyers of the fuel that will be produced by the biomethane facility. “We will sell this in bulk to fleet operators – companies that have fleets of vehicles like buses or trucks,” Paradies explained.
(Souce: Aboitiz Equity Ventures)
