BPH Global Limited (ASX:BP8) Releases Quarterly Activities Report and Secures Funding
Funding and Financial Performance
BPH Global Limited (ASX:BP8) successfully secured firm commitments from institutional, professional, and sophisticated investors, raising up to $609,000 (before costs) through the issue of 304,500,000 ordinary shares at $0.002 per share with a subsequent option.
Business Development and Indonesian Operations
The company advanced its Indonesian Seaweed Project, completing the registration of BP8 Indonesia in Jakarta and leasing a 550m² warehouse in Makassar. BP8 Indonesia is expanding its seaweed cultivation and processing capabilities, supported by key personnel including CEO Matthew Leonard and Executive Director Deepak Jha.
Strategic Partnerships and Agreements
BP8 entered into binding sales agreements with PT. Kebula Raya Bestari for comprehensive sales logistics and with Quanzhou Bailijie Biotechnology for a two-year seaweed offtake, expected to supply up to 500 metric tons monthly by term end.
Technology and R&D Initiatives
The company engaged in an outsourcing R&D agreement with Temasek Polytechnic and partnered with blockchain provider #dltledgers to enhance supply chain management and explore blue carbon credit accreditation.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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