Nano Labs Corp. has inked an agreement to set up an equally-owned joint venture with DerTek to invest in biofuels production in Mexico.
The two companies will for a US-based JV that will develop, manufacture and commercialise biofuels. Mexico-based DerTek has developed a technology using catalyzers to produce biofuels from organic oils from raw materials that do not compete with the food sector. The company currently produces 25 million litres of biofuels annually.