Biodiesel plant sale in Malaysia

Global Ventures Downstream has acquired a Malaysia-based biodiesel plant from Mission NewEnergy subsidiary Mission Biotechnologies.

The 100,000 tonne a year facility was sold for $11.5 million (€8.4 million) and the proceeds will reportedly go towards reducing loans from the holding company and, in turn, reduce borrowings at group level.

Mission Biotechnologies, after the sale is complete, will become a dormant company.