“We have already signed an agreement with Absolut Distillery. We’re going to produce methane from their waste,” said Aboitiz Equity Ventures Inc. (AEV) chief finance officer Stephen Paradies. “Our budget there is $47 million. That includes land and plant equipment.”
AEV will start building the plant in Batangas by the second quarter next year, with construction to take 18 months, Paradies said, adding that the company is already finalizing the land purchase.
“We will sell this in bulk to the companies that have fleet of vehicles like buses and trucks,” Paradies commented. The plant will have an annual capacity of 8,000 metric tons of liquid biomethane, which can help fuel 200 buses or heavy trucks per year.
