Buscar Company, a diversified holding company focused on natural resources and sustainable energy, has announced a strategic acquisition. The company has obtained a 50% stake in Terramer, Inc., a leader in hemp-based bioplastics, through a stock swap transaction.
This acquisition is a critical part of Buscar’s diversification strategy. It combines the company’s expertise in resource development with advanced green tech. The partnership aims to address the global plastic pollution crisis.
Terramer is known for developing TERBO-1000, a proprietary hemp-based bioplastic. This bioplastic is 100% biodegradable within 180 days and does not leave microplastic waste. Terramer operates a 350,000 square foot production facility. This facility can produce up to 300 million pounds of bioplastic annually and is expected to disrupt the $44 billion bioplastics market.
The company has already secured $6.8 million in purchase orders and received over $80 million in signed letters of intent from major household brands.
Under this new partnership, Buscar and Terramer plan to expedite the development of TERBO-1000. They intend to create scalable compostable plastics for various industries, including packaging, food service, automotive, and construction. This initiative aligns with Buscar’s goal of incorporating sustainable technologies into its offerings.
Alexander Dekhtyar, CEO and Chairman of Buscar, called the acquisition a transformative milestone. “By combining Terramer’s bioplastic technology with our strengths, we’re positioned to combat microplastic pollution,” he stated.
The stock swap agreement allows Buscar to issue shares to Terramer stakeholders while preserving cash. This deal enhances Buscar’s portfolio and revenue potential while capitalizing on a recent surge in gold prices.
Moving forward, Terramer aims to increase production and expand applications for TERBO-1000. They plan to enhance research and development using AI technology, and explore carbon credit monetization tied to emissions reductions. Paul Leslie Smith, CEO of Terramer, emphasized how the partnership will help them tackle plastic pollution at a global scale.
