In a Bursa Malaysia filing yesterday, Tex Cycle said its subsidiary Tex Cycle P2 will provide the technology and technical know-how, while whereby PGG will secure state regulatory processes and feedstocks for this project.
“The MOU is not a commitment of funds but rather an agreement to work together and if feasible, to embark into the biochar production business.
“The MOU will remain in effect for a duration of five years unless terminated by any one of the partners by mutual consent,” said Tex Cycle.
PGG, an engineering, environment and technology consultant involved in wastewater and environmental studies, is also a biochar producer.
Biochar is a carbon-rich product obtained when biomass is heated at relatively low temperatures in a closed container with little or no available air.
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