Zero Carbon Ventures, an Abu Dhabi based developer of emission reduction technologies and solutions will establish a joint venture (JV) with Green Planet for Sustainable Environmental Solutions, part of the Egyptian Special Group for Trading and Investment for a waste-to-value project in the Arab country.
According to a press statement, the JV company, called Zero Carbon Green Planet (ZCGP), will deploy Zero Carbon’s patent-pending high technology system, which processes methane and organic waste into graphene, hydrogen, fertilisers and other valuable commodities, at the 15 May landfill site in Cairo.
The JV will be incorporated in Abu Dhabi Global Markets (ADGM).
The first phase of project at the landfill site will be operational by 2025, the statement said, adding that the entire project will be completed in 2027.
It said the advanced manufacturing process at the facility will process 400 tonnes of organic waste per day whilst preventing methane and CO2 from escaping into the atmosphere.
The project will employ up to 250 people once it is fully operational.
Zero Carbon CEO and CO-Founder Martin Reynolds said: “Our aim is to build a circular economy, an innovative and sustainable economic model that aims to redefine traditional linear production and consumption patterns. This holistic concept not only addresses environmental concerns, but also promotes economic opportunities and innovation. The new advanced manufacturing facility we plan to build in Egypt takes every drop of value from the waste that otherwise would go to landfill, making new products to be used again in the market.”
Dr Mohammed Asaad, Chairman of Green Planet said, “Green Planet, and Special Group hold innovation and growth for Egypt at the core of its values. It is a pleasure to be partnering with such an inventive and experienced team at Zero Carbon Ventures, to deliver and scale impactful projects and bring new technology to the region.”
Tarek El-Araby, CEO, Waste Management Regulatory Authority said, “We applaud the collaborative efforts of Zero Carbon Ventures and Green Planet in spearheading this innovative project. It’s a significant stride not only in advancing our circular economy but also in bolstering Egypt’s position as a regional hub for economic growth and manufacturing.”
Source: Zawya Projects (Writing by SA Kader; Editing by Anoop Menon)