DAVAO CITY (MindaNews / 9 December) – State-owned National Development Company (NDC) signed Thursday a P40-million deal with waste management firm Davao Thermo Biotech Corporation (DTBC).
“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 statement read.
DTBC President Olive Puentespina said the investment will be for the expansion programs of the firm, adding they have endeavored to raise capital for growth and development through investment in the last quarter of 2022.
Puentespina said NDC’s interest in green technology and agricultural production has prompted them to invite the state-owned enterprise to invest.
NDC general manager Anton Mauricio commended Puentespina for her commitment for 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.
He pointed out that having a Japanese business partner has added to the credibility of DTBC.
Founded in 2015 by the late 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.
Operating commercially since 2017, 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 of this city, according to DTBC. (MindaNews)