NextGen Day

According to a top official, the government-owned Development Bank of the Philippines (DBP) has given a waste management company PHP66.7 million in funding support to build the only fully-integrated waste treatment and disposal facility at the Mactan Economic Zone I (MEZ) in Lapu-Lapu City, Cebu.

DBP President and Chief Executive Officer Michael O. de Jesus stated that the bank’s assistance to Pacific Mactan Renewable Environmental Systems, Inc. (PMRESI) was provided under the program’s flagship Sustainable Waste Management for Enhanced Environmental Protection Financing Programme (SWEEP), which would create a cutting-edge smart waste management and energy recovery system for more than 200 businesses within the MEZ area.

“DBP recognizes the importance of building sustainable infrastructure further to accelerate environmental protection and economic growth in the country,” De Jesus stated in a news release on Thursday.

He continued, “Through this endeavor, we strengthen our commitment to promote novel technologies and strategies that advance effective solid waste management practices and systems.

DBP, which has $8 billion in assets, is the eighth-largest bank in the nation and offers loan support to four important economic sectors: infrastructure and logistics; micro, small, and medium-sized businesses; the environment; and social services and community development.

The Thermal Oxidation Process System (TOPS), a waste gasifier technology, was introduced to the Philippines by PMRESI, a local affiliate of Canada-based EnEco WTE Pacific Inc.

De Jesus said that the TOPS gasifier technology, which employs a thermal gasification/oxidation process to degrade carbon-based waste components and reduce its volume by 97 percent, is being used for the first time at the MEZ waste treatment facility.

He claimed that the project, which will use an integrated pollution prevention and control system, has received the Department of Science and Technology’s first-ever Environmental Technology Verification (ETV) Statement and Report, attesting to the technology’s legitimacy, applicability, and scalability.

Through this project, DBP is stepping up its initiatives to support the Philippine Economic Zone Authority’s program to green ecozones, the Toxic Substances and Hazardous and Nuclear Waste Act of 1990, and the Ecological Solid Waste Management Act of 2000.

According to DBP Senior Vice President and Head of Development and Resiliency Sector Carolyn Olfindo, the loan would help pay for the acquisition of waste-water treatment machinery and construction of a 2000 square meter hazardous waste treatment facility.

According to her, the plant can produce carbon-free ash that can be donated to adjacent municipalities for use in their construction projects and used as a concrete additive, as well as generate extra power through the treatment of waste products.

Olfindo said the initiative would soon increase its activities by supplying renewable energy.

“As of April 2023, DBP has approved a total loan amount of PHP435.6-million under the SWEEP program,” Olfindo stated. “DBP will be prepared to offer the required financial support to projects that will aid in environmental protection and combat climate change.”

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---