EVES ENERGY (SG): Significant Milestone in Sustainable Oil Production through Innovative Algae Technology & Team Expertise

Microalgae are highly effective carbon sinks, absorbing significant amounts of atmospheric carbon dioxide, and their utilization in ESG initiatives is expanding, encompassing applications like wastewater treatment and the conversion of carbon dioxide into valuable resources such as algae oil and carbon fibers. Additionally, algae offer versatile sustainability solutions, including alternative protein production, plastic replacement, and bio-based materials for consumer products. (Graphic: Business Wire)

SINGAPORE--()--EVES ENERGY, a company specializing in sustainable investments, is boldly pushing the boundaries of innovation by exploring a pioneering partnership with Professor William Chen, Director of the Food Science Technology Programme at Nanyang Technological University, Singapore. This collaborative endeavour marks a pivotal moment in the journey towards sustainable oil production. Over a year ago, discoveries unveiled in March 2022 (http://bit.ly/3PW96OB) paved the way for the development of a revolutionary technology for bulk microalgae oil production, which is on the brink of commercialization. In parallel, EVES ENERGY is actively charting its course toward a Special Purpose Acquisition Company (SPAC) listing on NASDAQ, further solidifying its market position.

The groundbreaking technology carries immense potential to revolutionize conventional oil production methods while addressing critical sustainability challenges within the food industry. The heart of this innovation lies in the utilization of microalgae, specifically Chromochloris zofingiensis, to produce sustainable oil. This microalgae-derived oil not only serves as an environmentally friendly alternative to palm oil, a substance linked to environmental degradation but also offers superior nutritional benefits.

The oil is rich in polyunsaturated fatty acids, known for their role in reducing cholesterol levels and lowering the risk of heart disease and stroke. The production process is marked by efficiency and environmental responsibility, involving the use of pyruvic acid and ultraviolet (UV) light to stimulate photosynthesis in the algae.

The technology offers versatile applications, including the production of crude algae oil for sustainable aviation fuel, the creation of dried algae patties as nutrient-rich alternatives to traditional protein sources, and the generation of carbon credits to combat climate change.

EVES ENERGY has laid out strategic growth plans, aiming to establish 400,000 tanks in Indonesia to leverage economies of scale within a two-year span. This expansion is projected to yield 1.2 million MT of algae oil, 1.2 million MT of algae cake, and 2.6 million MT of carbon credits, culminating in a net income of US$1 billion by year 3.

Dr Lanz Chan of Finamatrix and Argun Boldkhet of AVEVAI spearhead the company supported by sponsors and its proprietary Disaster-Resistant ALGAE MATRIX BIOREACTOR TANK SYSTEM with IoT-Automation (AMTS). Moreover, the $FIX blockchain, a collaborative effort, records crude algae oil prices, establishing a benchmark. This state-of-the-art innovation aligns seamlessly with market trends and holds significant growth for the future.