Byzen Digital Announces MOU to Acquire Kelvindale Waste Management Inc.
Kelvindale Develops Refuse Derived Fuel Projects in the Philippines and Other Asian Countries
NEW YORK, NY, July 30, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Byzen Digital Inc. (OTC PINK: BYZN), a technology mergers and acquisitions company, today announced that it has signed a Memorandum of Understanding (MOU) to acquire Kelvindale Waste Management Inc. with offices in Hong Kong and the Philippines. Discussions leading to a signed Letter of Intent (LOI) are underway.
Kelvindale was specifically formed to develop opportunities for renewable energy projects in the Philippines and other Asian countries. The company aims to produce Refuse Derived Fuel (RDF) to be sold to power stations as an alternative or substitute for coal, resulting in a reduction of the consumption of fossil fuels.
In addition to reducing harmful emissions, the production of RDF will provide a means to reduce the tonnage of waste plastics that is currently sent to landfills. For example, a typical coal-fired power plant can save approximately $2 million per year on imported coal costs by deploying just 450 tons per day of RDF.
Chris Percy, President of Byzen Digital commented, “Kelvindale is a very good example of the kind of company that we are targeting to work with. It is a genuine market disruptor with a great staff that is working towards a common goal of successful achievement. I am pleased to announce that we have agreed to a MOU and am confident that a LOI will follow shortly. I hope to be able to provide the market and our shareholders with news of a concluded acquisition in the coming weeks.”
Tom Vincent, Kelvindale Director and Head of Projects, added, "We are excited to be involved with Byzen Digital as we share their disruptor vision and are excited to move our strategy forward together with their team. We are looking to make massive strides in deploying RDF to coal-fired plants through importing non-toxic waste to our plants in addition to handling local waste in countries within our footprint. By using imported waste from locations such as North America, Australia and others, the RDF process will also help to reduce the worldwide waste problem."
About Byzen Digital Inc.
Byzen Digital is a high-growth organization focused on mergers and acquisitions in the technology space. Originally set up to service the growing blockchain sector, Byzen Digital’s scope has quickly grown beyond its initial focus to incorporate start-ups and SMEs from the wider technology arena including cyber security, data storage, cloud-tech, analytics, software and digital applications.
The Byzen family provides vital strategic insight, global funding access and a robust corporate structure to support its incorporated ventures in positioning concepts for global success. For more information go to:
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Contact:
Chris Percy
President
Byzen Digital INC
