KUALA LUMPUR, Malaysia, Sept. 25, 2024 (GLOBE NEWSWIRE) — MRNA Scientific Sdn. Bhd. (“MRNA”), a subsidiary of BioNexus Gene Lab Corp. BGLC The “Company”)))) and Protech Builders Sdn. Bhd. (“Protech”), a leading mechanical and electrical engineering construction company in Malaysia, are pleased to announce the signing of a strategic collaboration agreement (the “Agreement”) to jointly develop and operate biogas plants in Malaysia. This collaboration marks a significant step in both companies’ efforts to contribute to Malaysia’s growing renewable energy sector, particularly in the generation of biogas from plantation wastewater.
Strategic collaboration for sustainable growth
Under this three-year agreement, Protech and MRNA will pool their resources and expertise to identify, commercialize and implement biogas projects that convert wastewater from plantations and agriculture into renewable energy. Protech and MRNA have jointly agreed to make an initial financial contribution of up to RM1,000,000 (approximately USD 235,000) to fund feasibility studies and other project development activities.
The partnership will leverage the company’s extensive market knowledge and expertise in chemical feedstocks, coupled with Protech’s proven capabilities in mechanical and electrical engineering. Protech holds a G7 construction license, the highest granted by the Construction Industry Development Board (CIDB) of Malaysia, allowing it to undertake projects of any size and value without limitations. With over 20 years of experience and a portfolio of over 300 successfully completed projects in Malaysia, including biogas facilities and power transmission systems, Protech is uniquely positioned to ensure the technical success and timely completion of these projects.
Projected revenue and growth potential
The biogas market in Malaysia offers significant growth opportunities. By combining the strengths of our company and Protech, we expect to complete multiple biogas projects over the next three years, from small to large installations.
A step towards a sustainable future
“This collaboration agreement represents a strategic alignment of our strengths,” said Sam Tan, CEO of BioNexus Gene Lab Corp. “By combining the company’s market insights and Protech’s engineering expertise, we are well positioned to capitalize on the growing demand for biogas solutions in Malaysia. This partnership not only supports our mission to contribute to a sustainable future, but also enhances our revenue-generating capabilities.”
CW Wong, CEO of Protech Builders, added: “We are delighted to partner with BGLC to develop biogas plants that will bring lasting environmental and economic benefits to Malaysia. Our extensive experience in constructing complex engineering systems, including biogas and power transmission facilities, combined with our G7 licence, ensures that we can deliver top-quality projects that meet the highest industry standards.”
About BioNexus Gene Lab Corp.
BioNexus Gene Lab Corp. is an emerging biotechnology company and a leading supplier of chemical raw materials in Southeast Asia. Through its subsidiaries, BGLC operates in the biotechnology and chemical supply industries across Southeast Asia.
For more information, please visit www.bionexusgenelab.com.
About Protech Builders Sdn. Bhd.
Protech Builders Sdn. Bhd. is a renowned mechanical and electrical engineering company in Malaysia, specializing in the installation, commissioning and maintenance of complex engineering systems.
For more information, please visit www.protech.my.
Safe Harbor Declaration
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements about plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are not statements of historical fact. When the Company uses words such as “may,” “will,” “intends,” “should,” “believes,” “expects,” “anticipates,” “projects,” “estimates” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's objectives and strategies; the Company's future business development; demand for and acceptance of products and services; changes in technology; economic conditions; the growth of the biotechnology industry in Malaysia and the other markets in which the Company serves or plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Malaysia and the other markets in which the Company operates or plans to operate and assumptions underlying or relating to any of the foregoing risks and other risks contained in the Company's filings with the Securities and Exchange Commission (the “SEC”). For these reasons, among others, investors are cautioned not to place undue reliance on forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.govThe Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances arising after the date hereof.
Contact information:
Investor Relations
BioNexus Corp. Gene Laboratory
Email: ir@bionexusgenelab.com
A photo accompanying this announcement is available at
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