BPH Global announces new Indonesian venture

BPH Global (ASX:BP8) has announced a strategic joint venture to establish a seaweed business in Indonesia. The new venture involves the creation of a wholly-owned subsidiary, BP8 Indonesia, to focus on seaweed commercialization. The initiative will concentrate on selling raw seaweed and developing seaweed-based bio-stimulant products targeted at the Indian market.

Overview of BPH Global's new initiative

BPH Global (ASX:BP8) is advancing its seaweed business with a new Indonesian-based joint venture. The collaboration with partners from Singapore and Indonesia will focus on seaweed cultivation and the development of bio-stimulant products for the Indian market. Supported by a capital raising of AUD100,000, the venture will leverage BP8's intellectual property and aims to secure low-cost cultivation sites and commercial-scale operations. The project includes milestone-based incentives and requires regulatory and legal approvals to proceed. This initiative aligns with BP8's strategy to expand its presence in the ASEAN markets and enhance its R&D capabilities.

Executive insights on new seaweed venture

This joint venture represents a significant step forward in our strategic plan to expand our seaweed business. By leveraging our existing intellectual property and collaborating with experienced partners, we aim to establish a strong presence in the ASEAN market and beyond.