China Waste Corporation Limited
(ASX:CWC) says that it has entered into a joint agreement with the Chinese Academy of Sciences through its Hong Kong subsidiary Fortune Technology.
The partnership will set up the CAS Fortune Environmental company for the business of disposal and treatment of hazardous and medical waste.
The Academy of Sciences will contribute software copyrights valued at around $649,000 for a 5 per cent share in the company while China Waste will stump up a bit over $12 million for the remaining 95 per cent.
China Waste reported a net loss of $1.4 million for the 2015 financial year.
