Malaysia: Green Lagoon launches ECF offering to raise $197k

Green Lagoon Technology Sdn Bhd (GLT) has launched its equity crowdfunding (ECF) offer on CrowdPlus.asia, raising MYR800,000 ($197,134).

The first green tech company in Asean to raise funds through an ECF platform, GLT is a one-stop center that turns organic waste into renewable energy.

The MYR800,000 it is raising translates to a stake of 6.5 per cent. The funding raised will be for the purpose of increasing its stake in two existing 1MW biogas plants located in Pahang to 40 per cent each. The remaining 60 per cent is owned by Cenergi SEA, a subsidiary of state investment arm Khazanah Nasional Bhd.

The shares offered shall be in the form of cumulative convertible preference shares which has a fixed dividend of 6 per cent per annum for three years, with a mandatory conversion to ordinary shares in the event of an initial public offering exercise or at the third year, whichever is earlier.

With the funding, the company will have a post-money valuation of MYR12.2 million, based on a price-to-earnings multiple of 4.5 on the forecast net profit after tax of the financial year of 2016.

GLT is provides solutions for biogas harvesting, storage, treatment, utilization and carbon reduction monitoring for palm oil mills to optimize their wastes and generate income streams. The company, which has a proven track having completed more than 10 biogas projects, also provides Build-Own-Operate-Transfer (BOOT) and turnkey solutions for palm oil millers to manage biogas emitted by palm oil mill effluents.

CrowdPlus.asia chief operating officer Bryan Chung sounded gratitude for the partnership with BiotechCorp, “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,” he said.

Also read:

Malaysia: Curren$eek seeks up to $115.5k on CrowdPlus.asia’s platform

Malaysia: CrowdPlus launches Asean’s first equity crowdfunding platform

Malaysia vs Singapore: An inside analysis of crowdfunding regulations

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.