Mitsubishi takes minority stake in KIS Group's Indonesia operations to enter global biogas market

New Delhi, Nov 5 (PTI) Japan's Mitsubishi Corporation has acquired a minority stake in KIS Group's Indonesia operations, marking its entry into the global biogas business, KIS Group said on Wednesday.

KIS Group, founded by K R Raghunath in 2006, plans to invest about USD 1 billion in renewable gas and biofuel projects across Southeast Asia and India by 2030, it said in a press statement.

In the statement, KS Group said, "Mitsubishi Corporation, one of Japan's largest global integrated business enterprises, has acquired a minority equity stake in its Indonesia operations. This investment marks Mitsubishi Corporation's first entry into the global biogas market." Without giving financial details as well as the percentage of stake acquired, KIS said that with Mitsubishi's backing, it aims to expand to North and South America and Europe within five years.

The partnership will focus on co-developing and commercialising advanced biogas, BioCNG, and BioLNG technologies, leveraging Mitsubishi's global network across more than 90 countries. The collaboration is expected to enhance KIS Group's operational efficiency, supply chain strength, and environmental governance.

KIS Group, which has implemented biomethane and renewable gas projects in 11 countries, has long-term supply contracts with Unilever and Shell, as well as collaborations with companies including Toyota, Godrej, Sinarmas, Banas Dairy, and Maruti Suzuki.

"The fact that Mitsubishi has chosen to enter the biogas and biofuels market for the first time through us is a huge vote of confidence in our technology and execution capability," Raghunath said. PTI ANZ SHW