Acquisitions30 Dec 2024, 07:43 pm
Refex Renewables Completes Acquisition of Controlling Stake in Vyzag Bio-Energy Fuel
AI Summary
Refex Renewables & Infrastructure Ltd has completed the acquisition of a 51.03% equity stake in Vyzag Bio-Energy Fuel Private Limited. This acquisition was made through Refex Sustainability Solutions Limited, a wholly-owned subsidiary. Vyzag Bio operates a Compressed Bio-Gas (CBG) plant that produces biogas from segregated municipal waste. The plant has a capacity to output 850 kg of CBG per day, making it a significant contributor to green fuel production.
Key Highlights
- Refex Sustainability Solutions Limited, a wholly-owned subsidiary, has completed the acquisition of 51.03% equity stake in Vyzag Bio-Energy Fuel Private Limited
- Vyzag Bio operates a Compressed Bio-Gas (CBG) plant producing biogas from segregated municipal waste
- The plant is designed with a capacity to output 850 kg of CBG per day
- This acquisition is a step forward towards strategic expansion and entering into CBG business
- This business is eco-friendly and would result in reduction in carbon footprint