AcroMeta 43F , previously Acromec Limited, has entered into a memorandum of understanding (MOU) with a Thai waste management company on March 21.
The company provides non-hazardous waste disposal services and owns and operates one of Thailand’s largest landfills. The unnamed company requires a laboratory in Thailand to test and certify solid waste and sludge to ensure the proper treatment of any hazardous materials.
Under the MOU, AcroMeta’s wholly-owned subsidiary, Acromec Engineers will design and construct the laboratory while AcroMeta’s co-working laboratory space operator Life Sciences Incubator Pte Ltd will operate the lab.
In addition, the MOU will offer opportunities to AcroMeta and, or its subsidiaries as a joint venture partner in the ownership of the lab.
The MOU will be valid for six months from the date of signing with the option for extension by mutual agreement.
According to AcroMeta, the co-working laboratory space business has strong growth potential as Singapore transforms its economy towards high-value sectors such as biotech, agritech, and foodtech with more and more companies conducting research & development activities.
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“This potentially carves out a new promising mainstream business for us as controlled environment specialist,” says Levin Lee Keng Weng, AcroMeta’s chairman.
“A future economy business such as the operation of co-working laboratory space plus its synergy with Acrometa’s current core controlled environments design and construction has the potential to elevate the group to a higher growth trajectory. It also opens the door for AcroMeta to scale its business, including expansion overseas,” he adds.
“Our wholly owned subsidiary Acromec Engineers, with its experience as builders of cutting-edge laboratories will continue to support LSI’s expansion with its controlled environments engineering expertise in Singapore and the region,” says CEO Lim Say Chin.
Shares in AcroMeta closed at 3.9 cents on March 20.
