Refex Renewables Enters CBG Segment with Acquisition of Vyzag Bio-Energy
Refex Renewables' subsidiary Refex Sustainability Solutions Ltd. has acquired a 51.03% stake in compressed biogas manufacturer Vyzag Bio-Energy Fuel, marking its entry into the CBG segment.
December 30, 2024. By Mrinmoy Dey
It has acquired a 51.03 percent equity stake, from the existing promoters and investment by way of fresh equity infusion Vyzag Bio, thereby, making this entity, a subsidiary of RSSL and a step-down subsidiary of Refex Renewables & Infrastructure Ltd., the company informed in an exchange filing.
Vyzag Bio operates a compressed bio-gas (CBG) plant producing biogas from segregated municipal waste, which involves processing organic material derived from municipal solid waste. The plant is designed with a capacity to output 850 kg of CBG per day, making it a significant contributor to green fuel production.
“The company has an existing and already established bio-gas plant located within the property situated in Survey No. 314 of Kapulauppada Visakhapatnam belonging to the Greater Visakhapatnam Municipal Corporation (GVMC), with an input capacity of 30 tonnes per day (TPD) of waste treatment. Moreover, the company is also desirous of expanding and developing the existing plant with a further capacity of 70 TPD, by way of increasing the total plant input capacity to 100 TPD,” it said.
It further added that the acquisition of Vyzag Bio is a step forward towards strategic expansion and entering into the CBG business. “This acquisition would facilitate the company, as a whole, to diversify its portfolio in the renewables sector and enter into new markets in the CBG segment. In the thrust towards ESG, this business is eco-friendly and would result in a reduction in carbon footprint,” it said.
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