biofuels

W2 Energy signs agreement to purchase majority stake in AM Biofuels

W2 Energy, Inc. (WTWO) has signed a binding memorandum agreement to purchase 51 percent of AM Biofuels of Pasir Gudang Port of Johor, Malaysia. The acquisition is valued at $5.5 million.
W2 Energy signs agreement to purchase majority stake in AM Biofuels

The strategic acquisition expands W2 Energy's fuel business in South East Asia as the company continues to execute on is business plan of production, blending and distribution of bio and synthetic fuels.

AM Biodiesel's plant, licensed under Malaysian Palm Oil Council, has the capacity of 30,000 metric tons per year of Biodiesel production.

The plant is a multi feedstock technology based on the esterification process. AM Biofuels was fully commissioned in end of 2010. The plant is currently in operation and plans to produce 20,000 MT of Palm biodiesel within 2103.

The company is located in Pasir Gudang Port of Johor Malaysia, which is one of the biggest Oleo Chemical centers in Asia. The factory is situated on a 10,000 sq. meters of prime land, within the port of Pasir Gudang vicinity, in the Pasir Gudang industrial zone.

Pasir Gudang Port is facing Singapore, and only 30 kilometers away from Singapore border. Singapore is the world largest trading hub for oils, petrochemicals, and biofuel.

In addition to the biodiesel refinery, the plant has several other useful facilities, 6 storage tanks of 300 MT each, 6 tanks for Bunker Oil of 20,000 liters each, 2 covered warehouses of approximately 2,000 sq. meters each. W2 Energy intends to commission and operate a Coal/Water/Biodiesel Slurry fuel production plant directly on the site.

For additional information:

W2 Energy

AM Biofuels

Tags: Fuel , Biofuel , Biodiesel , Oil , Storage
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