(Alliance News) - Sabien Technology Group PLC on Monday said investee b.grn Group signed a deal to deliver a recycling project cluster plan in the Midlands.
The London-based green aggregation strategy solutions provider said its 33%-owned special purpose vehicle b.grn Group signed the deal with City Oil Field, Hanyang Corp and Woori Technology.
COF is a technology firm which focuses on the sustainable recycling of plastics. Hanyang is a Seoul-based international construction, project development and energy company with operations in the US and Europe. Woori focuses on power generation and transport and is already an existing partner of COF.
The deal comes after b.grn entered a binding contract with COF for the first 24 tonne plastic-to-oil recycling plant using COF's regenerated green oil system in the Midlands, which treats end-of-life plastics.
The recycling cluster project "combines a COF plastic-to-oil plant, equipped with green smart farm technology which utilises waste heat energy from the recycling plant," Sabien Technology explained.
Sabien Technology's Chief Scientific Officer Athan Fox, said: "In co-operation with the partners now joining the recycling cluster projects, we believe that Sabien, b.grn, and COF are building 'true' recycling in the UK and beyond."
Sabien Technology shares were trading 6.5% at 16.50 pence each in London on Monday morning.
By Sabrina Penty; Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Sabien Tech. (SNT)