Ecopro BM. Co., Ltd. (KOSDAQ:A247540) signed a deal to acquire 9% stake in PT. Qing Mei Bang New Energy Materials from GEM Co., Ltd. (SZSE:002340) for $26.95 million on March 28, 2022.

The parties also agreed that EcoPro will provide a $31.37 million interest-free loan and another worth $31.5 million in phases to support the project.