VITARICH Corp. announced the signing of a one-year agreement with Corenergy, Inc. for the supply of electricity to the listed feeds maker and distributor’s facilities and plants.
“The agreement will enable Vitarich to realize savings, ranging from P3.2 million to P3.9 million in 2022,” the company said in a disclosure on Thursday.
Corenergy, a subsidiary of Vivant Corp, will supply a maximum of 0.75 megawatts (MW) of electricity without interruption to satisfy the power requirements of Vitarich’s Marilao, Bulacan office and its dressing plant operations.
It will also provide value-added services such as daily and hourly power consumption monitoring, load profile analysis, power usage consultancy, and thermal scan tests.
“We look forward to collaborating more deeply and directly with energy leaders like Vivant. Together, our organizations are committed to using resources efficiently and ensuring the long-term success of our businesses,” Vitarich President and Chief Executive Officer Ricardo Manuel M. Sarmiento said in a statement.
Vitarich manufactures feeds and distributes farm products nationwide. It also operates feed mills, hatcheries, and dressing plants.
Corenergy President and Chief Executive Officer Al Douglas Villaos said the company would provide “the excellent service that has powered the businesses of all our customers in Luzon, the Visayas, and Mindanao.”
“We will help VITA fulfill its role in ensuring the continued growth of the agriculture sector as well as achieving food security for the country,” he said, referring to Vitarich’s stock symbol.
At the stock exchange on Thursday, Vitarich shares were unchanged at P0.70 each. — Luisa Maria Jacinta C. Jocson