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Manila Bulletin devider Business devider NDC to invest P40 M in Davao biotech firm

NDC to invest P40 M in Davao biotech firm

Published Dec 5, 2023 09:32 am

The National Development Company (NDC), the investment arm of the Department of Trade and Industry (DTI), announced Tuesday, Dec. 5, its co-investment partnership with a Davao-based biotech firm for waste management and food production initiatives.

In a Viber message, NDC Assistant General Manager Leopoldo Acot said that “NDC will be investing P40 million via an investment agreement” with Davao Thermo Biotech Corp (DTBC) on Thursday, Dec. 7 at a key investment event in Davao.

“DTBC would be the type of projects that fit NDC's forward thinking investment mindset because of the environmental impact it has, that goes beyond a pure profit motive,” Acot said to Manila Bulletin.

He said the investment is grounded on NDC’s investment priorities in eight areas, such as health, food supply chain, climate change mitigation, water, construction, education, connectivity, and technology innovation.

The project, according to Acot, also aligns with the Philippine Development Plan's (PDP) priority goals, aiming to modernize agriculture and agribusiness, revitalize industry, and accelerate climate action and disaster resilience.

“The technology employed by DTBC contributes significantly to reducing carbon emissions, particularly in managing food waste, a major contributor to greenhouse gases (GHG),” Acot said.

He also said that the P40-million fund will come from NDC’s internally generated funds, which he added is different from the start-up venture fund (SVF).

“[In] SVF, we need to wait for another co-investment partner. This one is directly released to DTBC,” he noted.

DTBC, established in 2015, is a Filipino company that uses patented hyperthermophilic aerobic composting to manage biodegradable waste, aiming to help clean the Philippine environment and revolutionize agriculture.

DTBC’s environmentally safe and natural method has been proven to be effective in reducing landfills and incineration of garbage, preventing land degradation, environmental pollution, and climate change.

To date, over 30 million kilos of biodegradable waste have been diverted from landfills and traditional dumps to its composting plant in Binugao, Toril, Davao City.

“DTBC endeavored to raise capital for growth and development through investment in the last quarter of 2022. With previous interest of the National Development Company to invest in green technology and agricultural production, we invited NDC to the capital raising exercise,” DTBC President Olive Puentespina said to Manila Bulletin in a Viber message.

Puentespina added that the investment call was initiated through DTBC Chairman of the Board Francis Estrada’s invitation, and went through conducting evaluation and several presentations to the management committee.

In March of 2023, NDC General Manager Anton Mauricio met with Puentespina and visited the Binugao composting plant, where they figured “that the investment call went beyond mere numbers and the prospects and potentials in waste management and food production took precedent,” according to Puentespina.

“From March until November 2023, the finance team of NDC and DTBC worked hand in hand leading to this day,” the DTBC president shared.

DTBC also aims to engage local government units, private enterprises, and other institutions in effectively managing biodegradable wastes.

The company's fermentation plant can accommodate up to 50 tons of biodegradables daily, collected from various sectors including local government units, food and beverage manufacturers, agricultural plantations, livestock poultry and fisheries sectors, and tourism establishments.

The compost fertilizer generated by this technology has the potential to boost Philippine agriculture by reinvigorating agricultural lands, increasing crop quality and quantity, and promoting carbon sequestration through enhanced photosynthesis. Nursery and field trials using this fertilizer have shown success in increasing crop yield and quality, according to the company briefer.

DTBC also offers consultancy services and franchising opportunities to promote waste management and make a positive impact on public health, education, and sanitation.

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