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BM GreenTech's Unit to Co-Develop Biomass Power Plant

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BM GreenTech's (KLSE:BMGREEN) subsidiary, Boilermach, signed a memorandum of understanding with QL NutriFood and Synbio Power to co-develop an 8-megawatt co-generation biomass power plant in Malaysia worth 110 million ringgit.

The parties will collaborate through a special purpose vehicle, BM BioEnergy Innovations, according to a Wednesday Bursa Malaysia filing.

Boilermech will serve as the turnkey engineering, procurement and construction contractor, with the plant targeted for commissioning within three years.

The venture has already secured approval from Malaysia's Sustainable Energy Development Authority.

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