Mainboard-listed Darco Water Technologies announced, on July 14, that it has entered into a memorandum of understanding (MOU) with Insect Feed Technologies and Republic Polytechnic, where the parties will jointly develop a fully automated food recycling solution to turn food waste into commercially valuable products.

The MOU was signed by Darco’s wholly-owned Singapore-based subsidiary PV Vacuum Engineering.

The MOU will leverage on PV Vacuum’s Pneumatic Waste Conveyance System as well as Insect Feed’s Hermetia Illucens, which is also known as black soldier’s fly technology.

Intellectual property rights of these technologies will be shared exclusively between both parties.

See also: Darco chairman resigns following whistle blower's report of modified accounts

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The project comes at a time when food waste accounts for one of the biggest wastes in Singapore, says the statement from Darco.

“We are pleased to make more headway with our Pneumatic Waste Conveyance System with this new collaboration. This MOU will allow us to work closely with Insect Feed and Republic Polytechnic to explore greater innovation from waste management to recycling for sustainability, while ensuring knowledge transfer to the next generation,” says Poh Kok Hong, executive director and CEO of Darco.

Shares in Darco closed flat at 23.5 cents on July 14.

Photo: Stock photo