Press Release


ASEAN’S First Green Technology Equity Crowdfunding Offer Goes LIVE On

KUALA LUMPUR, June 21: Green Lagoon Technology Sdn Bhd (“GLT”), a one-stop solutions provider that turns palm oil mill effluent (POME) into renewable energy launches its equity crowdfunding offer on This is the first green tech company in ASEAN to raise funds through an equity crowdfunding platform. The launch was held at the headquarters of Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation, formerly known as Malaysian Biotechnology Corporation) in Kuala Lumpur.

GLT specializes in biogas trapping, harvesting, storage, treatment and utilization. In doing so, GLT is helping the palm oil mills to manage their biogas emissions and to optimize their wastewater to generate renewable income streams for the palm oil mills and also to help in carbon reduction monitoring.

GLT provides consultancy, engineering and construction services, and also Build-Own-Operate-Transfer or BOOT, and turnkey solutions for palm oil millers. The company has a proven track record of having completed more than 10 biogas projects.

GLT is looking to raise up to RM800,000 which translates to a stake of 6.5% for the purpose of exercising its call option in 2 existing 1MW biogas plants located in Pahang to 40% each. The company has a post-money valuation of RM12.2 million (assuming RM800,000 is raised) and this is based on a PE multiple of 4.5 on the forecast NPAT of FY2016.

The shares offered shall be in the form of cumulative convertible preference shares which has a fixed dividend of 6% p.a. for 3 years and there will be a mandatory conversion to ordinary shares in the event of an IPO exercise or at the end of the 3rd year, whichever is earlier.

Bryan Chung, COO of said this was a historic moment, not just for the equity crowdfunding fledgling market but for the green technology space as well.

“We are indeed grateful for the partnership we had with Bioeconomy Corporation which gave us the opportunity to bring ECF education to their companies resulting in GLT raising funds through equity crowdfunding. This offer demonstrates equity crowdfunding is suitable – not only for tech companies, but for SMEs as well in niche sectors such as renewable energy.

We remain steadfast in our evaluation and curation methodologies which are derived from over 15 years of venture capital experience to ensure only quality companies are published on our platform. The fact that GLT now is on the platform is a reflection of their strength and immense potential in the area of green technology.”

Chan Sow Keong, the CEO of GLT commented that whilst they had other funding options, they selected equity crowdfunding as it offered them the benefits of completing the funding exercise faster, lower costs and better exposure – not just locally but internationally as well.

“There was skepticism at first of whether equity crowdfunding works but when we understood the process and long-term strategy of in relation to fundraising via an online platform, we were convinced this was the way to go. We also wanted to promote green technology to a wider audience as we believe there are tremendous commercial opportunities and through investment in GLT, one is also playing their part in combating climate change.

“In the pipeline, we have secured projects in Pahang and Kedah which will require future funding. We have plans for the development of micro biogas plants, an integrated biogas production facility, and production of compressed natural gas. We are excited about the future of green technology and the opportunity to participate in our growth is now open to everyone.”

Dato’ Dr Mohd Nazlee Kamal, the CEO of Bioeconomy Corporation said that the organisation is proud to be a supporting partner for the groundbreaking occasion, which can open up new horizons for the bio-based industry in Malaysia.

“The collaboration with CrowdPlus.Asia today marks another novel strategy in Bioeconomy Corporation’s efforts to create a robust funding environment for the growth of our bio-based companies. Besides providing great opportunities in capital flows, the crowdfunding platform can help early-stage companies like GLT to gain visibility, increase their portfolio of clients, validate their business, and attract future investments in order to advance and expand their business growth.
“A dynamic funding mechanism like crowdfunding can help bio-based companies to leapfrog from being homegrown entities to becoming global champions. This is one of our main targets during the final phase of the National Biotechnology Policy (NBP), Going Global from 2016 to 2020, where we aspire to create at least 20 global bio-based companies. I hope today’s event will inspire other bio-based companies in Malaysia to follow suit and subsequently strengthen the growth of local start-ups in the bio-based industry.”

For those who are seeking funding or interested to become an investor, please visit for more information.

/ Press Release

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