PETALING JAYA: Citaglobal Bhd
has acquired a 55% equity stake in Germany-based LAWI Engineering GmbH (LAWI Germany), as part of a partnership to provide advanced waste-to-energy (WTE) technology and engineering solutions for waste management projects.
In a filing with Bursa Malaysia, Citaglobal said the proposed investment was fully paid on Jan 3, 2025 via the wholly owned subsidiary of the company, namely Citaglobal Environment Management Sdn Bhd.
“With the proposed investment, the group is able to offer end-to-end solutions, equipment supply, engineering and design for waste and bioenergy projects globally, without relying on importation of technology from foreign companies.
“The group also plans to export the technology outside Malaysia.”
According to Citaglobal, the move is a spin off from the collaboration between the company and Shanghai SUS Environment Co Ltd group for the proposed development and operation of WTE projects in Pahang.
The projects will involve the conversion of municipal waste into electricity, which is then sold as renewable energy and biomass projects in Malaysia.
Citaglobal said this is especially in converting agriculture waste like empty fruit brunches and/or palm oil sludge oil waste to energy pursuant to the joint development framework agreement executed between the company and SUS Holding Ltd in July 2024.
“The proposed investment is in line with the strategic direction towards achieving the group’s vision of promoting sustainable waste management practices in Malaysia, which entails the efficient management of waste to minimise its environmental impact,” said Citaglobal.
