Wanderport Corporation Announces New Joint Venture to Expand Global Markets for Clean Tech and Renewable Coconut Charcoal Products

SANTA MONICA, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- Wanderport Corporation (OTC: WDRP), a holding company, with a focus on energy, clean tech, and health tech, is excited to announce a strategic joint venture aimed at expanding the coconut charcoal business worldwide. This venture, in partnership with the principal of Vietnam based Highland BP., Ltd, signifies a major step forward in the utilization of sustainable and eco-friendly fuel alternatives.

The parties have executed the Letter of Intent and aim to formally close the transaction in the next few weeks, followed by the launch of a new website, and e-commerce shops shortly thereafter.

Under the agreement, Wanderport will assume and expand the existing multimillion dollar international business. Its partner will be responsible for local sales, manufacturing, and fulfillment.

The coconut charcoal products are currently being sold in over twenty countries. Wanderport aims to significantly increase the global market footprint and projects achieving annual sales in excess of $10 million in the next twelve months.

The global market for charcoal was valued at $6 billion in 2023 and is projected to reach $8.5 billion by 2029, with a compounded annual growth rate (CAGR) of 5.8%. The coconut charcoal market is an emerging segment and is projected to grow significantly, with a CAGR of 12.9%. This growth is supported by increasing awareness of and demand for renewable energy sources and cleaner technologies.

Coconut charcoal, derived from the shells of coconuts which are abundant in Southeast Asia, is an innovative form of charcoal that offers several advantages over traditional wood-based charcoal. The global market for coconut charcoal is growing rapidly, driven by its efficiency and environmental benefits. Unlike traditional charcoal, which often results in deforestation and considerable CO2 emissions, coconut charcoal utilizes waste products from the coconut industry, making it a superior, sustainable choice.

Coconut charcoal burns cleaner, produces fewer pollutants, and has a higher energy efficiency, which makes it an ideal component in renewable energy and clean tech sectors. It is not only a viable alternative to traditional charcoal in terms of heat production but also contributes substantially less to carbon emissions.

The applications for coconut charcoal are extensive and diverse, catering to various industries and consumer needs. It is highly valued for BBQ and grilling due to its ability to burn hotter and cleaner than traditional wood charcoal, enhancing the flavor of grilled food without the heavy smoke. In air purification, coconut charcoal's porous nature allows it to effectively trap contaminants, odors, and pollutants, making indoor environments fresher and healthier. Similarly, in water filtration, it removes impurities and chemicals, ensuring safer and cleaner drinking water.