Metech exits lab-grown diamonds, lands orders for biomass machines and shifts S$1M to loan repayment
What's the deal? Metech InternationalDealroom has a profile for this one. Try Dealroom → completed the disposal of its entire 80% stake in Asian Eco Technology (AET)Dealroom has a profile for this one. Try Dealroom → on August 26, 2026, exiting the lab-grown diamond business. The Company, which detailed the move in its August 2026 monthly update on August 31, no longer holds any interest in AET.
Why now? The divestment clears out non-core assets, letting management focus on its remaining segments — chiefly food waste technology and health supplements.
What's the endgame? Metech's biomass carbon reduction system machines have arrived at its factory and completed testing and commissioning. Orders have already been placed for the machines, and the Company is reallocating S$1 million of its placement net proceeds to loan repayment.
What else? Metech plans to establish a manufacturing facility in Singapore as a base to supply the Southeast Asian market, with a long-term goal of global expansion. The plan involves acquiring factory space to manufacture or assemble key machine components, and the Company has reached an in-principle understanding with the factory's vendor on a potential investment.
What's the backing? Metech's Taiwan joint venture partner, Colorful Paradise Agricultural Cooperation (CPAC)Dealroom has a profile for this one. Try Dealroom →, confirmed the biomass project received grant support as an approved initiative by Taiwanese authorities. Metech is in discussions with CPAC over jointly fulfilling the existing orders.
The Company is also progressing on governance. It has identified a chief financial officer candidate and submitted documentation to its sponsor, Novus Corporate FinanceDealroom has a profile for this one. Try Dealroom →, for review.
The signal: Metech is pivoting away from a speculative consumer segment toward industrial waste-reduction technology with government backing. Confirmed orders and grant support suggest early commercial traction, but the strategy hinges on standing up manufacturing and converting interest into revenue.
Read more: minichart.com.sg
Image credit: Evelyn Simak
