• Acquisition of Indonesian seaweed assets and joint development of seaweed business
• Incorporation of 100% owned subsidiary in Indonesia pending registration
• Focus on entering into offtake agreements for raw seaweed sales to Asian markets and developing seaweed-based bio-stimulant products for India

BPH Global Ltd (ASX: BP8) has completed the acquisition of Indonesian-based seaweed assets and commenced the joint development of the Indonesian-based seaweed business with its joint venture partners. The transaction includes the incorporation of a 100% owned Indonesian subsidiary, 'PT BPH Global Indonesia', and the transfer of the joint venture partners' seaweed-related assets to the new subsidiary. The focus will be on entering into offtake agreements for the sale of raw seaweed to Asian markets, as well as the development of seaweed-based bio-stimulant products for the Indian market. BPH Global's Managing Director, Mr. Matthew Leonard, has been in Indonesia working closely with the joint venture partner, Mr. Deepak Jha, on completion matters, the incorporation of the new subsidiary, and operational planning, including securing long-term supply agreements with local seaweed farmers and discussions with potential offtake partners in Asia.

The company expects its Indonesian seaweed trading business to generate USD$50,000 in revenue during FY2025 and USD$150,000 in revenue during FY2026.

BPH Global plans to leverage its joint venture partners' experience in selling seaweed into local Indonesian markets and to explore opportunities to obtain a bio-stimulant patent license within 12 months of the commencement of the joint venture.