[ad#The Buzz Sponsor Ad]

Berjaya Group Berhad Acquires 60% of Algaetech

October 10, 2012
AlgaeIndustryMagazine.com

The Board of Directors of Berjaya Corporation Berhad has announced that its wholly-owned subsidiary, Berjaya Group Berhad, acquired a major share of Algaetech International Sdn Bhd on October 9, 2012. Algaetech Intl. is now a 60% owned subsidiary of BCorporation.

Algaetech International was incorporated in Malaysia on August 13, 2010 under the Malaysia Companies Act, 1965. The Algaetech Intl Group is involved in micro-algae research, development and consultancy with production and marketing of renewable energy, and high value products including anti-oxidants and other nutraceuticals.

Berjaya Corporation, a $6.2 billion USD per year company with 33,000 employees, has a history dating back to 1984. Berjaya Corporation is a diversified conglomerate with core businesses in consumer marketing, financial services, hotels, resorts, property investment & development, sanitary landfill, investments, food & beverages and other areas.

This acquisition of Algaetech Intl allows for Berjaya Corporation to invest in green technology and bio-technology projects with potential applications in health products, environmental management and renewable energy. The Board of Directors of Berjaya Corporation is of the opinion that this Acquisition is in the best interests of the Berjaya Group.

Algaetech Intl. is excited about this acquisition as it shows the interests of large corporations, and their willingness to tackle issues such as global warming, food shortage, and sustainable energy development through algae technologies. “The global reputation and proven R&D technologies by Algaetech Intl, has attracted worldwide attention, and now with the support and reach of Berjaya Corporation, this will surely create a quantum leap in green & sustainable technology in Malaysia and the region,” said Dato’ Paduka Syed Isa Syed Alwi, Chief Executive Officer of Algaetech Intl. “There are truly exciting times ahead. Together, we can bring the sustainable future closer to the present. The future is now.”

More Buzz…

HOME Algae Industry Jobs

Copyright ©2010-2012 AlgaeIndustryMagazine.com. All rights reserved. Permission granted to reprint this article in its entirety. Must include copyright statement and live hyperlinks. Contact editorial@algaeindustrymagazine.com. A.I.M. accepts unsolicited manuscripts for consideration, and takes no responsibility for the validity of claims made in submitted editorial.

From The A.I.M. Archives

— Refresh Page for More Choices
Algix, parent company of Solaplast, will be inaugurating their algae-to-plastic facility in Meridian, Mississippi, on November 14, 2014. Solaplast's facility will be focu...
William Tucker writes in fullfreedom.org about the lure the oceans have for advocates of biofuel, particularly in Scandinavia. “Two-thirds of the globe is covered with wa...
Using a malaria parasite protein produced from algae, paired with an immune-boosting cocktail suitable for use in humans, researchers at UC San Diego School of Medicine g...
Kevin Valine at the Modesto Bee writes that the California city of Modesto may sell the algae that grows in its roughly 1,000 acres of sewer ponds at its Jennings Road wa...
Solazyme has announced that total revenue for the fourth quarter of 2014 was $14.5 million, compared with $11.3 million in the fourth quarter of 2013, an increase of 29%....
Don Willmott writes in Huffington Post about Nevada-based Algae Systems, which has built a test plant on Alabama's Mobile Bay to not only turn algae into diesel fuel but ...
UC San Diego’s efforts to produce innovative and sustainable solutions to the world’s environmental problems have resulted in a partnership with the region’s surfing indu...
Japan’s IHI Corporation has announced that they have succeeded in stably cultivating a modified high-output algal strain in a 1,500 square meter open pond in Kagoshima, K...
OriginClear Inc. and partner AlgEternal have announced that, based on AlgEternal’s field tests, they believe their pure algae concentrate, harvested with OriginClear tech...
The Consortium for Algal Biofuel Commercialization (CAB-Comm), led by the University of California, San Diego, has just released its final report, detailing the many acco...
Northwestern University researchers have developed a quantitative tool that might help bring back coral from the brink of extinction. The novel algorithm could help asses...
Bioenergy-news.com reports that Volkswagen showcased its algae biogas-powered vehicle at a biogas project based in El Torno Chiclana, a town in south-west Spain. The test...