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Environmental Solutions Group Holdings Limited (ESGL) announced that Lawrence Law and Samuel Lui will participate in a fireside chat hosted by IPO Edge and Palm Beach Hedge Fund Association on April 11, 2023. ESGL, operating through Environmental Solutions (Asia) Pte. Ltd. in Singapore, focuses on recycling industrial waste into circular products. This event follows ESGL's merger agreement announcement with Genesis Unicorn Acquisition Corp. (NASDAQ: GENQ) on November 30, 2022, intended to enhance sustainability in the ASEAN region. The chat will cover critical issues such as the scale of hazardous waste in ASEAN, regulatory changes, ESGL's customer base, its business model, and reasons for going public.
Environmental Solutions Group Holdings Limited (ESGL) reported a 26% increase in revenues for FY 2022, totaling approximately $5.0 million. Revenue from waste treatment services surged by 95.1% to approximately $2.2 million, while sales of circular products decreased by 2.2% to around $2.7 million. Gross margin was 64.3%, down from 66.8% in FY 2021. The company posted a net loss of approximately $2.4 million, compared to $0.7 million in the prior year. ESGL's efforts in sustainability helped Singapore convert 81,000 kg of waste plastics and treat 16,500 tons of hazardous material, capturing emerging opportunities in the growing waste treatment market.
Genesis Unicorn Capital Corp. (NASDAQ: GENQ) has filed an Investor Presentation on Form 8-K with the SEC, detailing the business profile of Environmental Solutions Group Holdings Limited (ESGL), a sustainable waste solutions provider. The announcement follows the definitive merger agreement signed on November 30, 2022, between Genesis Unicorn and ESGL. As ESGL aims to lead in circularity and sustainability, leveraging Singapore’s commitment to net zero emissions by 2050, the company anticipates significant growth in both revenue and profitability over the next 3-4 years. Interested parties can access the Investor Presentation through Genesis Unicorn's website.
Environmental Solutions Group Holdings Limited (ESG) and Genesis Unicorn Capital Limited (GENQ) have entered a merger agreement, leading to the combined entity being named ESGL Holdings Limited, with an implied pro forma enterprise value of $161.25 million. The merger is anticipated to close in Q2 2023, subject to regulatory approvals. ESG focuses on sustainable circular economy solutions and aims to expand into ASEAN markets. ESG's management will lead the new company, with plans to list on Nasdaq under the ticker ESGL.