The Board of Directors of Nextgreen wishes to announce that the Company had on 5 September 2023 entered into a Letter of Intent (“LOI”) with Marubeni Corporation (“Marubeni”) with the intention to enter into partnership for the Project that Nextgreen upcycles the Empty Fruit Bunch (“EFB”) to valuable uses through its subsidiary companies (hereinafter referred to as “Project”). In that Project, Nextgreen is developing Green Technology Park (“GTP”) in Pahang, Malaysia, and already holds the upcycling facility of EFB with a capacity of 12,000 tons per year of EFB pulp (hereinafter referred to as “Current Pahang Facility”). Nextgreen is also planning to add another upcycling facility with a capacity of 100,000 tons per year of EFB pulp in GTP in Pahang (hereinafter referred to as “New Pahang Facility”). In addition, Nextgreen plans to develop GTPs in other regions, including but not limited to Sarawak and Johor in Malaysia.

Nextgreen and Marubeni shall hereinafter be collectively referred to as the “Parties” and individually referred to as “Party”.

Please refer to the attachment for the details of the announcement. 

This announcement is dated 6 September 2023.

Please refer attachment below.