Biovea Énergie is providing 108 billion FCFA in financing to Palm CI, a BRVM company specializing in the production and marketing of palm oil to diversify sales and improve margins.

As part of the construction of a biomass-based energy production unit that will operate with oil palm waste, Palm CI receives financial support from Biovea Energy. This power plant will require approximately 450,000 tons of waste that will come from Palm CI. The company will provide 30% of the needs on its own plantations and buy the remaining 70% from a group of 12,000 small planters. This additional sales opportunity is expected to last 25 years, which is the duration of the concession granted to Biovea

This project allows Palm CI to generate additional revenue by definitely commercializing a new product, and at the same time, it reduces the costs of managing its industrial waste. On a completely different level, it allows her to improve her relationship with planters in her environment by creating additional income for them. If this outlook remains stable, Palm CI shares should continue to appeal to investors. Over the past 12 months, it has increased by 250%, including 95%, since the beginning of 2021 alone. It could post its best annual performance in five years if that continues.