Tejoori makes stake in renewable energy market

Dubai-based Tejoori has acquired a 16.7% interest in European renewable energy firm BEKON with a reported EUR6 million (AED28.4million) investment.

Dubai-based Tejoori has acquired a 16.7% interest in European renewable energy firm BEKON with a reported EUR6 million (AED28.4million) investment.

Tejoori will inject up to EUR3 million to buy an existing shareholding and inject an additional EUR3 million in equity to meet the global expansion and working capital needs of BEKON, which is a holding company of a group focused on the development, construction, marketing and operation of biogas, energy and waste treatment plants.

BEKON has developed two proprietary patented technologies that enable it to design, establish and operate biogas plants. Dry-fermentation is a process where renewable energy is created by converting biodegradable waste into electricity.

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