SANTA MONICA, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- Wanderport Corporation (OTC: WDRP), a holding company, with a focus on energy, clean tech, and health tech, is excited to announce a strategic joint venture aimed at expanding the coconut charcoal business worldwide. This venture, in partnership with the principal of Vietnam based Highland BP., Ltd, signifies a major step forward in the utilization of sustainable and eco-friendly fuel alternatives.
The parties have executed the Letter of Intent and aim to formally close the transaction in the next few weeks, followed by the launch of a new website, and e-commerce shops shortly thereafter.
Under the agreement, Wanderport will assume and expand the existing multimillion dollar international business. Its partner will be responsible for local sales, manufacturing, and fulfillment.
The coconut charcoal products are currently being sold in over twenty countries. Wanderport aims to significantly increase the global market footprint and projects achieving annual sales in excess of $10 million in the next twelve months.
The global market for charcoal was valued at $6 billion in 2023 and is projected to reach $8.5 billion by 2029, with a compounded annual growth rate (CAGR) of 5.8%. The coconut charcoal market is an emerging segment and is projected to grow significantly, with a CAGR of 12.9%. This growth is supported by increasing awareness of and demand for renewable energy sources and cleaner technologies.
Coconut charcoal, derived from the shells of coconuts which are abundant in Southeast Asia, is an innovative form of charcoal that offers several advantages over traditional wood-based charcoal. The global market for coconut charcoal is growing rapidly, driven by its efficiency and environmental benefits. Unlike traditional charcoal, which often results in deforestation and considerable CO2 emissions, coconut charcoal utilizes waste products from the coconut industry, making it a superior, sustainable choice.
Coconut charcoal burns cleaner, produces fewer pollutants, and has a higher energy efficiency, which makes it an ideal component in renewable energy and clean tech sectors. It is not only a viable alternative to traditional charcoal in terms of heat production but also contributes substantially less to carbon emissions.
The applications for coconut charcoal are extensive and diverse, catering to various industries and consumer needs. It is highly valued for BBQ and grilling due to its ability to burn hotter and cleaner than traditional wood charcoal, enhancing the flavor of grilled food without the heavy smoke. In air purification, coconut charcoal's porous nature allows it to effectively trap contaminants, odors, and pollutants, making indoor environments fresher and healthier. Similarly, in water filtration, it removes impurities and chemicals, ensuring safer and cleaner drinking water.
In the health and beauty sector, coconut charcoal is incorporated into products such as detoxifying face masks and teeth whitening toothpastes, leveraging its absorptive properties to remove toxins. For gardening enthusiasts, it serves as an excellent soil amendment, improving soil structure, moisture retention, and nutrient efficiency. Additionally, its minimal ash production and long burn time make it an ideal choice for hookahs and incense, providing a clean and sustained source of heat.
Wanderport will initially offer the products in their current form factors. In the near future, the Company will introduce additional products that have other consumer applications.
The products will be available in bulk for wholesale purposes and in retail packages tailored for consumer markets. Private labeling will also be available to partners who wish to market the products under their own brands.
“This joint venture aligns with Wanderport’s commitment to innovation in the renewable energy sector," stated Miki Takeuchi, CEO of Wanderport. “By harnessing the potential of coconut charcoal, we aim to make a significant impact on global energy consumption patterns, shifting towards more sustainable and environmentally friendly practices. These products are just the beginning of what we hope will be a series of innovations that drive sustainability forward," added Takeuchi.
Hang Nguyen, CEO of Highland BP, added, "We are thrilled to partner with Wanderport to bring our exciting line of products to the broader markets. Our collaboration is a testament to our mutual dedication to pioneering solutions that not only meet the energy needs of today but also protect the planet for future generations."
About Wanderport Corporation
Wanderport Corporation is a holding company with a focus on energy, clean tech, and health tech. The Company currently holds varying percentage ownerships in 36 leases, with over 200 oil and gas wells in the state of Oklahoma, with a total capacity of 1,100 barrels of oil and 6,000 Mcf of natural gas per day. The Company also seeks to grow through the strategic acquisition of international assets.
For more information, please visit https://wanderportcorp.com
Facebook: wanderportcorporation
Twitter: @wanderportcorp
About Highland BP
Highland Bp., Ltd specializes in producing clean charcoal from coconut shells. The company focuses on high-quality, eco-friendly products and is ISO 9001-2015 certified. The charcoal is made from 100% natural coconut shell raw materials, formed into pellets without harmful additives like petroleum, sawdust, or limestone. It is environmentally friendly, suitable for indoor use, and is becoming increasingly popular due to its high heat production, low ash content, odorless, and long-lasting burn time without smoke or harmful emissions.
For more information, visit https://highlandbp.com.vn
Forward-Looking Statements:
Statements made herein constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the Company’s stock price, increased competition, customer acceptance of new products and services to be offered by the Company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating efforts. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management’s plans and objectives for future operations. While these forward-looking statements and any assumptions upon which they are based are made in good faith and reflect current judgment regarding the direction of the business operations of Wanderport Corporation, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this press release.
Contact:
Wanderport Corporation
www.wanderportcorp.com
Investor Relations:
Miki Takeuchi
ir@wanderportcorp.com
