BPH Global pens offtake agreement with China-based manufacturer
BPH Global (ASX:BP8) has this week signed a significant seaweed offtake agreement with Quanzhou Bailijie Biotechnology, a Chinese carrageenan producer.
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The deal revolves around the monthly sale of BPH’s raw seaweed products, with 100 metric tons of high-quality Eucheuma cottonii seaweed to now be shipped to Quanzhou. That will then expand to as much as 500 tons by 2027.
“We’ve been so impressed with the factories in China,” BP8 CEO Matthew Leonard said, speaking to HotCopper on the major deal heading into Week 16.
“BPH Global is very happy about this two-year agreement – it’s a significant offtake agreement. That potential to scale up to 500 tons a month [is exciting] and we’re really looking forward to working with this great client now.”
Mr Leonard added the plan now is to “grow up” through the two-year deal.
BP8 has been trading relatively flat today and sits at 0.3cps.
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