Acropower to build waste-to-energy unit on Chew’s poultry farm site
Category: #world  By Saipriya Iyer  Date: 2018-03-27
  • share
  • Twitter
  • Facebook
  • LinkedIn

Acropower to build waste-to-energy unit on Chew’s poultry farm site

Acromec Limited, a Singapore-headquartered engineering services firm, has declared that its subsidiary, Acropower, has signed an MoU with HL Plus. The deal entails the construction, ownership, and operational responsibility of a waste-to-energy unit on the future poultry farm location of Chew’s Agriculture near New Tiew Road in Singapore.

Reliable sources cite that HL is likely to acquire Chew’s Agriculture, a division of Chew’s Group, through the purchase of totally issued as well as paid up share capital of the latter. For the record, earlier this month, HL Plus signed an agreement with the Chew’s Group to purchase four of its divisions, namely, Chew’s Group Investment, Chew’s Agriculture, Chew’s Group Marketing, and Chew’s Engineering Services for nearly USD 11 million in cash.

As per the MoU agreement between HL and Acropower, Chew’s Agriculture will be providing 70 tons of chicken manure to the Waste-to-energy unit daily. Acropower is likely to treat the manure and use the converted biogas for producing electricity. In return, the pact is expected to support Chew’s efforts in disposing off waste at much lower costs. It has been forecast that Acropower will accrue benefits from the sale of power supply back to the poultry farm at a rate similar to that charged by Singapore Power, a corporate body of the former electricity & gas department of Public Utilities Board in the country.

The terms & conditions of the MoU also state that Acropower will have to incur the expenditure of building, owning, and operating the establishment. The firm is also expected to pay a rental fee to Chew’s Agriculture on a yearly basis at the rate negotiated between HL and Acropower.

Lim Say Chin, the executive chairman of Acromec, has emphasized that the proposed venture depicts the firm’s entry into the renewable energy business, which is in alignment with the company’s green energy perspective & approach.



About Author

Saipriya Iyer

Email: [email protected]   

Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

Read More

More News By Saipriya Iyer

Foodics enters Egypt market by setting an on-ground presence in Cairo
Foodics enters Egypt market by setting an on-ground presence in Cairo
By Saipriya Iyer

Saudi Arabia-based restaurant management platform Foodics, has announced that it has entered the Egyptian market by creating an on-the-ground presence in Cairo.  The expansion comes after the company raised USD 4 ...

Food Emulsifiers Market to Witness an Appreciable Growth By 2026
Food Emulsifiers Market to Witness an Appreciable Growth By 2026
By Saipriya Iyer

This advanced report on the Food Emulsifiers Market includes of an in-depth overview of this business sphere. Alongside, details of the present market size and status have been given. The report aims to provide substantial updates on the market, p...

Bharat Biotech reveals positive data from animal trial of Covaxin
Bharat Biotech reveals positive data from animal trial of Covaxin
By Saipriya Iyer

Bharat Biotech, an Indian biotechnology company, has reportedly revealed positive results from the animal trial of Covaxin, India’s COVID-19 vaccine candidate.

In the animal t...