MGL Development Pte Ltd Announces Investment Deal with CAC-H2 Pte Ltd, Strengthening Commitment to Sustainable Development Goals

Singapore

06 June 2023 – MGL Development Pte Ltd is a Singapore headquartered investment holding company with interests in energy, manufacturing, forestry, agriculture, and IT. As part of the Asia Energy Supergrid, MGL Development is actively involved in deploying renewable power projects in Central Asia, focusing on clean energy solutions.

MGL Development is a fully integrated company with vision is to align its operations with the United Nations’ 17 Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change. With a deep understanding of the environmental challenges we face, MGL Development aims to harness innovative technologies and forge partnerships to create a positive and lasting impact. With over 15 years of experience in significantly important economic sectors in Mongolia, the company has assembled a solid ground to revolutionize the way to approach sustainable development

The Chairman of MGL Development, Ankhbayar Khurlee, emphasized the significance of being part of a climate-focused green energy company like CAC-H2. “Aligning ourselves with CAC-H2 supports our vision of becoming a climate tech integrated group,” said Ankhbayar Khurlee. “By working together, we can leverage our combined expertise and resources to make a lasting difference in the fight against climate change.”

“MGL Development’s investment opens up incredible synergies and opportunities for both companies,” said Glenn Davies, CEO of CAC-H2. “This partnership not only strengthens our collective ability to make a substantial carbon and climate impact, but it also allows us to accelerate the transition to a sustainable future. Together, we can drive positive change and contribute to the preservation of our planet for generations to come.”

As part of the investment deal, MGL Development will extend its financial support to include project financing capital, bolstering CAC-H2’s efforts in the global energy transition, climate crisis, and the achievement of UN SDGs. This investment agreement also secures a clear path for MGL Development to develop a 30MW renewable energy and biochar plant in Mongolia that will utilize forestry waste residue. This milestone project marks a significant step towards realizing MGL Development’s commitment to sustainable development and clean energy production

About MGL Development Pte Ltd

MGL Development Pte Ltd is a Singapore headquartered investment holding company with interests in energy, manufacturing, forestry, agriculture, and IT. MGL Development presented its Green Coal – Blue Sky initiative to United Nations’ Sustainable Development Goals (SDGs) Organization in September 2018. As part of the Asia Energy Supergrid, MGL Development is actively involved in deploying renewable power projects in Central Asia, focusing on clean energy solutions. For more information, visit www.mgl-development.com

About CAC-H2 Pte Ltd

CAC-H2 Pte Ltd is a leading project developer dedicated to combatting economic, social, and environmental threats by aligning with the United Nations’ 17 Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change. With expertise in carbon removal, renewable fuels, and green hydrogen production, CAC-H2 is committed to supporting the global energy transition and reducing reliance on fossil fuels. For more information, visit https://www.cac-h2.com/