Refex Renewables & Infrastructure acquires 51% stake in Vyzag Bio-Energy Fuel
Refex Renewables & Infrastructure acquires 51% stake in Vyzag Bio-Energy Fuel
Refex Renewables & Infrastructure announced on Monday that its subsidiary, Refex Sustainability Solutions Ltd (RSSL), has successfully acquired a 51% stake in Vyzag Bio-Energy Fuel. This acquisition, which was finalized on December 30, 2024, marks the beginning of Vyzag Bio-Energy Fuel's transformation into a subsidiary of RSSL and a step-down subsidiary of Refex Renewables & Infrastructure.
Vyzag Bio-Energy Fuel, a key player in the renewable energy sector, has been at the forefront of bioenergy production. The company is known for its innovations in the use of biofuels and renewable energy solutions, with a focus on creating sustainable energy sources that reduce environmental impact. Vyzag Bio-Energy Fuel's core business includes the production of biofuels, along with the development and implementation of bioenergy technologies aimed at making renewable energy more accessible and cost-effective.
The acquisition involved a 51.03% equity stake purchase from the existing promoters of Vyzag Bio, accompanied by a fresh infusion of equity to strengthen the company’s position in the bioenergy market. This move is expected to significantly enhance RSSL’s portfolio, which already includes a diverse range of sustainability-focused ventures within the renewable energy and infrastructure sectors.
With this acquisition, Vyzag Bio-Energy Fuel will now operate under the umbrella of Refex Sustainability Solutions, and its status as a step-down subsidiary of Refex Renewables & Infrastructure will allow for closer collaboration and synergies between the two entities. The combined resources of RSSL and Vyzag Bio are expected to foster the growth of innovative bioenergy solutions, further advancing Refex's commitment to sustainability and renewable energy solutions.
This strategic acquisition aligns with Refex Renewables & Infrastructure’s long-term goals of expanding its reach in the green energy sector and strengthening its portfolio of renewable and sustainable energy companies.
