GREENERGY HOLDINGS INCORPORATED
(Formerly: MUSX Corporation)
Greenergy Holdings Incorporated (the “Company”, formerly MUSX Corporation) is a publicly-listed holding company and was registered in 1992 with the Philippine Securities and Exchange Commission (SEC) per Registration No. ASO92-00589. Through time, the Company has evolved from a semiconductors company into a holding company and presently continues to operate as such.
Exploring Possibilities with Renewable Energy
In the latter part of 2010, the Company began its initiative in venturing into other business opportunities apart from the semiconductor business from which the Company was founded. One of these business opportunities pertains to the field of renewable energy. As part of its growth strategy, the Company retained 39% interest in its semiconductor business, Music Semiconductors Philippines, Inc., and divested its interests in the foreign subsidiaries, namely: MUSIC Semiconductors, Inc., Musem Electonic N.V. and Protelcon, Inc.
In 2011, the Company agreed to the establishment of a US$1.3 Billion Dollars joint venture project with Chinese firm, Tianjin Tianbao Investment and Development Corporation, to engage in wind energy projects amounting to US$ 200 Million Dollars, as priority, and other subsequent renewable energy projects such as, but not limited to, bio-mass, solar, hydro and geothermal energy. The Company has also agreed to acquire 51% of Total Waste Management Recovery System, Inc., a domestic corporation engaged in the business of building, operating and managing waste recovery facilities and waste management systems within the Philippines.
In 2012, the Company established certain subsidiaries to further mark its venture into the field of renewable energy. These subsidiaries are the wholly-owned Winsun Green Ventures, Inc. and the 60%-owned Biomass Holdings, Inc. The latter is the product of the Company’s partnership with Cleantech Projektgesellschaft mbH, a German fund managed by the ThomasLloyd Global Asset Management (Switzerland) AG of Zurich. It serves as the joint venture vehicle of the parties in their investment transactions in the biomass power plant of San Carlos BioPower, Inc. in Negros.
The Company likewise entered into a preliminary agreement with Dutch enterprise Hydroring Capital BV for the establishment of a joint venture vehicle aimed to promote the development, operation and management of multiple hydropower projects, infrastructures and/or facilities in the Philippines using the “Hydroring”-concept, with the aim of providing affordable access to environmentally friendly and sustainable sources of renewable energy. Hydroring Capital BV is known for having developed a hydropower concept based on a portfolio of proprietary turbine innovations with a variety of added value components.
Pursuant to the new direction of the Company which is to widen and diversify its investment portfolio as a holding company, the Company plans to make investments and acquisitions that will include or involve companies or assets relating to the businesses of the Company’s President and CEO, Mr. Antonio L. Tiu. Among the businesses being considered for acquisition or investment are those in the areas of food and agriculture, banking and finance, real estate development and construction, renewable energy, technology, information technology and retail.
The foregoing will materially widen and diversify the investment portfolio of the Company as a holding company, leading to significant opportunities for business growth and enhancing shareholder value.