RE: 154.40% UP2 Oct 2025 14:14
1. Sabien’s Partnership with City Oil Field (COF, Korea)
• Sabien has the rights to sell, build, and co-develop COF’s RGO (“Wave”) plastic-to-oil technology in the UK and parts of the U.S.
• Potential revenue: $1.2m per module installed.
2. Current Pipeline / Agreements
• UK & U.S. supply contracts and MOUs are in place.
• First U.S. site: LOI signed for land lease in Phoenix, Arizona.
• UK Midlands site: still in negotiations.
• A “major oil trading partner” MOU is in place to buy all oil offtake and potentially invest directly in projects (which is critical because it secures both sales and project funding).
3. Critical Milestone Achieved – COF in Korea
• The first full-scale RGO facility in Korea has now been built, certified, and set to begin operations in October 2025.
• This is important: Sabien’s model depends on COF proving the technology at commercial scale. That has now happened.
Certifications achieved:
• ISCC PLUS → allows sales into the EU/global markets.
• Safety & quality audits passed → credibility boost.
• Capacity: 7,000 tonnes of plastic waste processed annually.
• Confirmed offtake: Already contracted sales to Vietnam ($2/litre).
• Discussions with EU majors → potential BASF, INEOS, Unilever, Nestlé customers.
4. International Validation
• Investment secured from Saudi/UAE PEDCO (valuing COF at ~$72m).
• PEDCO gets exclusive rights in Middle East, Australia, NZ.
• Benefits for COF: foreign-invested status, tax breaks, access to global financing → accelerates rollout.