CMG Cleantech S.A. Announces Divestment of Ocean Polymers Limited

Paris-based CMG Cleantech S.A. has announced plans to divest its subsidiary, Ocean Polymers Limited. Acquired in November 2022, Ocean Polymers is engaged in advancing negotiations with the Government of Trinidad and Tobago for a waste-to-energy plant project in Tobago. This strategic move aims to facilitate the subsidiary's capital requirements by transitioning it back to a private legal status, enhancing its fundraising flexibility.

CEO Darren Taylor stated that the divestment aligns with CMG’s goal to empower its subsidiaries in meeting financial and operational goals. While CMG will support Ocean Polymers during this transition, both companies remain open to future collaboration or merging opportunities.