Jatenergy Limited (ASX: JAT) announced an agreement with Sydney-based Oppenheimer Pty Ltd to develop a range of plant-based meats to be sold into China and other Asian markets.
- JAT Oppenheimer Pty Ltd is owned 50/50 between the parties, and there is no termination date for the agreement.
- Oppenheimer will provide a licence to JAT Oppenheimer Pty Ltd to use Oppenheimer’s intellectual property to develop and sell plant-based products.
- Wilton Yao has been appointed as Chairman of the company and Jignesh Shah as a Managing Director of Oppenheimer Pty Ltd.
- The cost of innovation, science and human resource for development will be funded by Oppenheimer for the first 12 months.
- Initial expenses of the company would be funded by JAT.
- All intellectual property developed during the course of business will be owned by JAT.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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