DAVAO CITY – Government-owned enterprise National Development Co. (NDC) has inked a P40-million investment deal with waste management firm Davao Thermo Biotech Corp. (DTBC) on Thursday, December 7.
DTBC President Olive Puentespina said the investment will finance their expansion programs, saying they have endeavored to raise capital for growth and development through investment in the last quarter of 2022.
NATIONAL Development Co. General Manager Antonilo Mauricio signs an agreement with Davao Thermo Biotech Corp. Chief Executive Officer Olive Puentespina in Davao City on December 7 for a P40-million investment for the expansion of the Davao-based waste management firm. (Keith Bacongco)
Puentespina said the interest of the NDC in investing in green technology and agricultural production prompted them to partner with the State-owned enterprise.
"As an existing venture that works on waste-to-fertilizer as an agricultural resource with an eye on further expansion, NDC’s P40-million investment is timely in supporting DTBC’s expansion plans – an investment template for investments into other like-minded projects in the country," the NDC said.
This novel Japanese technology, it added, 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, thereby, preventing any negative impact on public health and the water table.”
NDC General Manager Anton Mauricio said DTBC fits their key investment priority areas – pioneering, developmental, sustainable, inclusive, and innovative.
Mauricio commended Puentespina for her commitment in the expansion of DTBC amid her other business endeavors, including the famed Malagos Cheese.
"It's a messaging that the Philippine government is investing in something like this. And we want it to be replicated in other parts of the country," the NDC chief said.
Moreover, he pointed out that having a Japanese business partner has added to the credibility of DTBC.
Founded in 2015 by the late famed Davao veterinarian Dr. Roberto “Bo” Puentespina, DTBC is a biodegradables-to-fertilizer company that employs hyperthermophilic composting technology, which originated in Japan, to produce biofertilizers.
For a fee, the firm caters industrial biowastes from business establishments in this city since it started operating commercially in 2017.
This Davao-based firm is the first and only waste management company in the country employing this patented technology.
Its pioneering and innovative project converts biodegradable wastes into biofertilizer which is being pushed as an alternative fertilizer to agricultural crops.
To date, more than 30 million kilos of biodegradable waste have been diverted from landfills and other traditional dumpsites to its composting plant in Barangay Binugao, Toril District, here.