Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
Asian Currencies Slip as Dollar Strengthens; Indian Rupee Rebounds on Intervention Hopes 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
Republicans Raise National Security Concerns Over Intel’s Testing of China-Linked Chipmaking Tools 
Sanofi’s Efdoralprin Alfa Gains EMA Orphan Status for Rare Lung Disease 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
Micron Technology Forecasts Surge in Revenue and Earnings on AI-Driven Memory Demand 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Japan Exports to U.S. Rebound in November as Tariff Impact Eases, Boosting BOJ Rate Hike Expectations 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
GS Engineering & Construction has inked a deal with St1, a bioenergy company based in Helsinki, Finland. The two companies will work together on the development of next-generation bioethanol using peels of cassava that resemble a sweet potato.
GS Engineering & Construction, a South Korean firm that offers design, analysis services, and product development, signed a memorandum of understanding (MOU) with St1 earlier this week
In Bangkok, Thailand where the companies intend to build their plant and produce ethanol using only the most sustainable method of production.
As per The Korea Times, they will use cassava peels which are a byproduct in the manufacturing of other food products such as flour. GS E&C shared that it has chosen Thailand for the project as the region is the third largest producer of cassava in the world. The said root crop usually grows in tropical locations.
The signing of the MOU was attended by GS E&C's president Huh Yoon Hong and St1 Renewable Energy's director, Patrick Pitkanen. Around 10 officials of both firms were present at the ceremony that was held on Monday, Aug. 29.
"We expect the cooperation between the two companies will signal the next-generation bioethanol production business using unused waste," GS E&C's president said in a statement during the signing event. "In the future, we will continue to put effort into becoming an iconic company of sustainable management in Korea by discovering opportunities for new eco-friendly and digital-based business."
Moreover, the Korean engineering and construction company said that if the project with St1 Renewable Energy yields good results, it will be the first corporation in the world to ever produce bioethanol using cassava waste.
It was said that cassava is the most used root crop in the food manufacturing business, so a massive amount of its pulp is discarded. Seeing this, GS E&C made the decision to recycle and use the waste to make bioethanol.
"Previously, other raw materials like corn, sugar cane and wheat were used to produce bioethanol," an official at the engineering firm said. "But now this project's method of producing a source of bioenergy using the waste of an edible crop is drawing much attention in the market and cassava pulp has emerged as an optimal alternative."
