Singapore-based Apeiron Bioenergy has received an equity investment of undisclosed amount from Japanese company Mitsui Chemicals Inc (TYO:4183) to support its expansion across Asia.
Apeiron is looking to increase its collection capacity and processing facilities for waste-based feedstocks across Asian markets through both organic and inorganic growth as it aims to respond to the growing demand for biofuels such as renewable diesel and sustainable aviation fuel (SAF), underpinned by government regulations in the US and the EU.
The company collects and processes renewable feedstocks such as used cooking oil (UCO) and palm oil mill effluent (POME). When announcing the deal on Wednesday, it said it has established a presence in more than 10 countries and collected more than 500 million litres of UCO between 2017 and 2021.
Apeiron is well placed to supply downstream by-products for Mitsui Chemicals.
"Apeiron Bioenergy has a proven track record of aggregating renewable feedstock and streamlining the supply chain across Asia. We are delighted to invest in the company as it aligns with our sustainability goals," commented Tadashi Yoshino, representative director, managing executive officer at Mitsui Chemicals.
In a separate announcement, Mitsui Chemicals said the investment will help it boost its procurement of biomass raw materials to meet the growing demand for bio-based chemicals and plastics.
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