01/12/2008 - 11:13

AnaeCo prepares for overseas expansion

01/12/2008 - 11:13

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Waste recycling company AnaeCo has entered into a partnership with a UK-based firm to expand its DiCOM waste processing system through India, China and South East Asia.

AnaeCo prepares for overseas expansion

Waste recycling company AnaeCo has entered into a partnership with a UK-based firm to expand its DiCOM waste processing system through India, China and South East Asia.

Bentley-based AnaeCo has signed a memorandum of understanding with Sindicatum Carbon Capital International with a view to forming an equal JV for the development of projects using DiCOM.

DiCOM is a system that incorporates advanced sorting, recycling, anaerobic digestion and aerobic composting to recycle municipal solid waste into renewable energy.

"The proposed joint venture will involve Sindicatum providing its CDM project development expertise and AnaeCo providing access to its DiCOM System technology, to develop municipal solid waste projects in the region," AnaeCo said.

The CDM, Clean Development Mechanism, projects are one of the methods established in the Kyoto protocol where industrialised nations can trade their carbon emission reductions, or CERs, from CDM projects on carbon trading markets.

AnaeCo and Sindicatum have agreed to formalise the relationship with the establishment of a joint venture company within 6 months.

AnaeCo's international deal follows another JV entered into early last month with Citywide Serivce Solutions to expand the DiCOM system in the eastern states.

 

Today's announcement is pasted below:

AnaeCo (ASX:ANQ) is pleased to announce that it has entered into a Memorandum of Understanding (MoU) with Sindicatum Carbon Capital International Ltd (Sindicatum), a leading developer of CDM(1) projects, with a view to forming a 50/50 joint venture for the development of projects utilising the DiCOM System throughout India, China and South East Asia.

Sindicatum is a UK based specialist end-to-end developer of climate change related projects. Its strategy involves using its own expertise and capital to develop projects from conception through to implementation and long term operation, working in partnership with corporations and governments to deliver cost effective means by which to reduce greenhouse gas emissions.

Sindicatum is one of the leading developers of climate change projects and has expertise in coal mine methane, energy & industrial emissions, landfill gas, oil & gas and technology development.

The proposed joint venture will involve Sindicatum providing its CDM project development expertise and AnaeCo providing access to its DiCOM System technology, to develop municipal solid waste projects in the region.

Tom Rudas, Managing Director of AnaeCo says: "We are very pleased to have formed this relationship with Sindicatum as we believe their focus on climate change and infrastructure is the right approach to realising projects in developing economies. Sindicatum's track record and project development expertise in this region will accelerate what may otherwise have been a later staged market entry by AnaeCo, without impacting AnaeCo's existing primary market focus in Australia and EU."

AnaeCo and Sindicatum have agreed to formalise the relationship with the establishment of a joint venture company within 6 months.

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