Concord Energy Announces Agreement to Establish Asia Pacific Joint Venture
with Cool PlanetEnergy Systems
SINGAPORE -- September 24, 2013
Concord Energy today announced that it has signed an agreement with Cool
Planet Energy Systems to establish a joint-venture in the Asia Pacific Region.
The JV will develop commercial production facilities for the conversion of
non-food biomass into biofuels and soil enhancing biochar.
“We believe that Cool Planet has developed a unique technology that will
revolutionise the production of biofuels, and we are delighted that Cool
Planet has chosen Concord Energy as its partner,” said John Stuart, CEO of
Concord’s Asset Group. “Concord has extensive operational and development
experience in Asia Pacific, and we look forward to working with Cool Planet
and its partners in growing biofuels production in the region.”
“We like that Concord Energy is among the leading trading firms in East Asia,”
said Vital Aelion, Cool Planet’s head of international business development,
“We chose Concord Energy because we know they have the strong desire and the
technological capability to deploy quickly the Cool Planet technology in East
Asia and in Oceania.”
Concord Energy has also made a financial investment in the Cool Planet,
joining other global investors such as BP, Google Ventures, Energy Technology
Ventures (GE, ConocoPhillips, NRG Energy), and the Constellation division of
About Cool Planet
Cool Planet is deploying disruptive technology through capital efficient,
small scale bio refineries, to economically convert non-food biomass into
high-octane, drop-in biofuels. The process also generates value through
biochar production, which can be returned to the soil, enabling fertilizer and
water retention for increased crop productivity, and more robust plant health.
The process can be carbon negative, removing over 100 percent of the carbon
footprint for every gallon used, reversing the consequences of fossil fuels.
Cool Planet’s technology has a broad portfolio of pending and granted patents.
About Concord Energy
Concord Energy is one of Singapore’s leading crude oil and refined petroleum
product trading companies, with businesses in Asia, Middle East, Europe, North
and West Africa. Concord is the exclusive supplier of crude oil and petroleum
products to the Port Dixon refinery in Malaysia, and Concord is also currently
building a 1.2 million cubic metre crude oil and oil products storage facility
in Fujairah, UAE. Other business interests include a crude oil exploration
block in Indonesia, oil product storage in Indonesia, and the Dubai Mercantile
For further information please contact Andrew Bujtor or Vital Aelion at:
Photos/Multimedia Gallery Available:
Cool Planet Energy Systems
Mike Rocke, 940-584-0490
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