Resgen has signed a term sheet to acquire a 51% stake in Avatar Petrochemicals (APPL), KSR Techno, and Agnitherm Engineers. This strategic acquisition positions Resgen as a key player in India’s growing sustainable waste oil treatment and recycling sector.
This acquisition will be conducted in two phases, starting with Resgen’s investment of Rs 18 crore to secure a 51% stake. The second phase will involve acquiring the remaining 49% through a future share swap arrangement. This strategic move allows Resgen to broaden its capabilities, product offerings, and customer base while driving synergies in operations, research, and development.
Resgen is engaged in the process of Manufacturing Pyrolysis Oil (Substitute for Furnace Oil) from all kinds of plastics (waste/scrap) during the manufacturing of the Pyrolysis Oil, some of its by products are generated such as Carbon (Substitute for Coal) and Gas (Substitute for LPG).
