Establishment of Biomass Power Plant and New Material Production Facilities in Vietnam
Annual Carbon Emission Reduction of 280,000 Tons
IBK Investment & Securities announced on the 3rd that it has signed a carbon credit finance and technical advisory and supply contract with Bionano Korea, a company specializing in eco-friendly material research.
Bionano Korea is a small but strong research and development company certified by the Ministry of Science and ICT, focusing on the development of new materials using greenhouse gas reduction and waste resources. It is currently conducting business in Australia, Japan, India, and Vietnam.
Through this contract, IBK Investment & Securities will provide financial and technical advisory services for smooth carbon credit registration and issuance, and supply the issued carbon credits domestically and internationally.
Bionano Korea plans to build a 10MW-class biomass power plant using rice husks (the outer shell of rice) as waste in the Can Tho City of Vietnam, along with an NPS (Nano Porous Silica) production facility with an annual production capacity of 30,000 tons. Through this, it aims to reduce a total of 280,000 tons of carbon emissions annually.
NPS is a material that can be extracted from rice husks, and Bionano Korea possesses technology to manufacture high value-added materials such as rubber for tires, cosmetics, and pharmaceuticals using NPS. The NPS produced through eco-friendly processes is planned to be supplied to major domestic and international companies building environmental, social, and governance (ESG) supply chains.
The Mekong Delta region, where the business site is located, has received preliminary approval from the Vietnamese government for biomass power generation capacity of 418MW. Once the biomass power plant is completed, it is expected to supply 35% of the local power in the Can Tho City area.
To promote its carbon finance business, IBK Investment & Securities recruited Senior Executive Director Seongil Eom, an expert in carbon credits and ESG integrated management, in the second half of this year and established a Carbon Finance Department under the Investment Strategy Headquarters of the S&T Division. In the future, it plans to build a comprehensive carbon finance platform encompassing ▲discovery of carbon credit-linked projects for companies ▲financial and technical advisory ▲credit registration ▲investment and financial productization.
An IBK Investment & Securities official said, "We will accelerate the carbon finance business starting with this contract," adding, "As a securities firm specialized in small and medium-sized enterprises, we will support the green transition of domestic SMEs possessing eco-friendly technologies and strive to help establish a foundation for carbon neutrality implementation."
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