17/5/06 (Bernama)  - BioX Group BV has decided to partner Tradewinds Plantation Sdn Bhd in a project to jointly develop the United Nations-recognised Clean Development Mechanism (CDM).

BioX yesterday signed a business collaboration agreement with Tradewinds to employ CDM on a pilot basis at one of the nine Tradewinds palm oil mills.

The CDM project will be developed on a 50:50 basis between the two companies, involving an investment of around US$500,000 per palm oil mill.

The CDM project is a long-term contract for BioX to secure palm oil fuel for its power stations due to the increasing attention on renewable energy in Europe, chief financial officer Edgare Kerkwijk said at the official opening of the company’s regional office in Kuala Lumpur yesterday. - Bernama