Elridge Energy to acquire 6 activated carbon production chains for RM45mil
KUALA LUMPUR: Elridge Energy Holdings Bhd’s wholly owned subsidiary, Lumeria Power Sdn Bhd is venturing into the manufacture and sale of activated carbon (AC) with the proposed acquisition of six integrated AC production chains for RM45 million.
Kuala Lumpur - Elridge Energy Holdings Bhd's subsidiary, Lumeria Power Sdn Bhd, is acquiring six integrated activated carbon (AC) production chains for RM45 million, according to a filing with Bursa Malaysia. The biomass fuel manufacturer accepted the offer from United Equipment Services (M) Sdn Bhd for the acquisition and installation of the production chains in Klang, Selangor.
The new AC production lines are expected to have a cumulative production capacity of up to 21,600 tonnes per annum. This investment will allow Elridge Energy to move beyond supplying PKS primarily as biomass fuel and convert the same feedstock into AC, a higher value-added product with applications across various industries. Executive director and CEO Oliver Yeo stated that the venture is a strategic step in the group's plan to capture greater value from the PKS supply chain.
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