Genting Plantations takes back 25% stake in biodiesel JV from Elevance Renewable Sciences

In Malaysia, the Star newspaper reports that Elevance Renewable Sciences is undergoing restructuring and as a result its JV partner in a 200,000 ton biodiesel facility in Sabah, Genting Plantations, is taking back the 25% equity stake it sold the US-based technology company because it can no longer contribute equity to the project. Elevance will continue to participate by licensing its metathesis technology to the facility that uses palm oil. Genting, a major shareholder in Genting Plantations, also owns a 47.8% stake in Elevance.