Canadian W2 Energy agrees to buy majority share of AM Biofuels

05 February 2013 21:49  [Source: ICIS news]

HOUSTON (ICIS)--Canadian renewable energy firm W2 Energy on Tuesday said it has signed an agreement to purchase a 51% share of Malaysian biodiesel maker AM Biofuels.

W2 Energy said the acquisition expands the company’s reach into the southeast Asian bio and synthetic fuels market. W2 Energy is based in Guelph, Ontario.

AM Biodiesel's plant, licensed under the Malaysian Palm Oil Council, has biodiesel capacity of 30,000/tonnes/year.

The plant, in Pasir Gudang port of Johor state in Malaysia, is currently in operation and plans to produce 20,000/tonnes of palm oil biodiesel.

By: Jeremy Pafford
+1 713 525 2653

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