NDC invests P40M in Davao biotech firm
MANILA – National Development Company (NDC) is investing P40 million in the Davao Thermo Biotech Corp. (DTBC), with the funding meant to fuel the expansion of the latter’s facility in the southern Philippine city.
NDC, the investment arm of the Department of Trade and Industry (DTI), said the agreement was sealed last Thursday at Matina Aplaya in Davao, with NDC General Manager Anton Mauricio and DTBC President Olive Puentespina signing the documents.
NDC highlighted that the investment will fund the expansion of the company’s plant in Davao which covers, among others, the installation of a dashboard by 2024 to monitor air and composting activity.
In a statement, Trade Secretary Alfedo Pascual recognized the innovative nature of the DTBC business venture of converting biodegradable waste into biofertilizer.
Aside from its environmental sustainability, Pascual also said such investment by the government through the NDC demonstrates the government’s thrust in diversifying and promoting investments in other parts of the country.
DTBC, which was established in 2015, is a Filipino company engaged in biodegradable waste management through the use of a patented hyper-thermophilic aerobic composting.
NDC said this novel Japanese technology is environmentally safe, natural and is compliant with local laws and regulations.
The composting plant is appropriately designed to prevent any leachate contamination during the mixing and composting process, preventing any negative impact on public health and the water sources, it added.