(Unless otherwise defined, terms used in this announcement shall carry the same meanings as set out in the previous announcement dated 20 October 2021 in relation to the MOU with Gartena (“Announcement”))

Further to our announcement made on 20 October 2021 in relation to the above MOU, we are pleased to append hereunder the following additional information:-

Further Information on Gartena

Gartena holds the worldwide patent for the ‘Rotating Kiln’ and the two-step ‘Afterburner’ process, bearing International Publication Number: WO2010/123444, which is a technically advanced, efficient and environmentally friendly Waste-2-Energy process that can accept various types of waste.  The system ensures adequate waste-2-energy yield that make conversion of waste to energy financially viable.

Timeframe of the MOU

The MOU will come into effect on the date of signing of the MoU and will remain in effect for two (2) years from the effective date (“Validity Period”). The MOU shall be automatically renewed unless expressly terminated.  The MOU may be terminated by either Party at any time within the Validity Period by giving thirty (30) days’ notice in writing to the other Party. The Parties agreed that they cannot bind the other, nor enter into contracts or agreement in the other Party’s name, without the express written consent of the other Party. 

Details of the Waste-2 Energy solutions that the parties intend to cooperate

The parties intend to provide solutions to recycle energy from waste generated in the community or the industry.  The energy produced from the waste using the technology will be injected into the electrical grid to benefit the society, thereby creating a circular economy for the community.   The target markets are the municipal councils, private entities or such other organisations which are handling wastes disposal around the region.

This announcement is dated 22 October 2021.