National Development Corporation General Manager Antonilo Mauricio signs an agreement with Davao Thermo Biotech Corp. CEO Olive Puentespina in Davao City on December 7, 2023 for the P40-million investment for the expansion of the homegrown waste management firm. MindaNews Photo
“As an existing venture that works on waste-to-fertilizer as an agricultural resource with an eye on further expansion, NDC’s P40-million investment is timely in supporting DTBC’s expansion plans – an investment template for investments into other like-minded projects in the country, ” the NDC statement read.
Puentespina said NDC’s interest in green technology and agricultural production has prompted them to invite the state-owned enterprise to invest. “It’s a messaging that the Philippine government is investing in something like this. And we want it to be replicated in other parts of the country,” the NDC chief said. Founded in 2015 by the late Davao veterinarian Dr. Roberto “Bo” Puentespina, DTBC is a biodegradables-to-fertilizer company that employs hyperthermophilic composting technology, which originated in Japan, to produce biofertilizers.