The Heritage Group has announced its acquisition of a majority stake in Khmer Green Charcoal Co., Ltd. (KGC), a pioneering Cambodian enterprise transforming agricultural waste, such as coconut shells, into sustainable charcoal products. The deal, revealed on January 15, underscores both companies’ commitment to sustainability and environmental progress.
Established in 2012, KGC has been a trailblazer in sustainable charcoal production, with a mission to combat deforestation, reduce carbon emissions, and create economic opportunities for underprivileged communities. These objectives align closely with the Heritage Group’s overarching goals.
“Since its establishment, KGC has emerged as a leader in sustainable charcoal production, reducing deforestation, lowering CO2 emissions, and creating job opportunities for underprivileged communities,” stated a joint release from the Heritage Group and KGC on January 15.
The Heritage Group, a diversified Cambodian business conglomerate, is committed to fostering innovative and sustainable ventures that contribute to the nation’s economic and environmental development.
“Charcoal has long been a part of Cambodian cooking culture. Through KGC’s innovative approach, it can now be produced sustainably without harming the environment,” the statement noted.
KGC’s contribution to Cambodia’s business community was recently recognized with an honor at the Khmer Enterprise Awards 2024. The Heritage Group plans to leverage this momentum by increasing KGC’s production capacity and expanding its market reach locally and internationally.
“At Heritage Group, we believe innovation and sustainability must go hand in hand. Our investment in KGC reflects this commitment, and we are excited to support its growth as a model for responsible business in Cambodia,” said Heritage Group Chairman Chan Sokheang.
The collaboration also paves the way for advancements in KGC’s operations, with plans to invest in new technologies to meet growing demand and strengthen its presence in both domestic and international markets.
“This partnership marks an exciting new chapter for KGC. Heritage Group’s vision and expertise bring immense value, paving the way for a bright future,” said KGC Founder Carlo Figà Talamanca.
Echoing this sentiment, Sokheang added, “This investment is more than a business transaction; it’s a commitment to a sustainable future. Together, we will pave the way for a greener and more prosperous Cambodia.”
With this acquisition, the Heritage Group is poised to lead KGC into its next phase of growth, setting a benchmark for sustainable and responsible business practices in Cambodia.
Source: Phnom Penh Post
