HOUSTON--(BUSINESS WIRE)--New ASEAN Energy, Inc. (NAE) has been established to acquire an equity interest in a petrochemical complex in Southeast Asia, one of the fastest growing regions in the world. The complex will utilize next generation technology to generate greater efficiencies, lower production costs and low carbon and renewable energy. In recent years, the region has witnessed increasing investments in the downstream industry due to continued growth of the end-markets that consume petrochemicals – such as packaging and construction, and this project will help meet that demand.
To aid the implementation of its strategy, NAE is partnering with Singapore’s ChemOne Group, which brings a 40-year track record of developing and operating petrochemical plants across Southeast Asia. Incorporated in Delaware and headquartered in Houston, NAE’s board of independent directors includes Bobby Tudor, previously a partner with Goldman Sachs and the former Chairman and founder of Tudor, Pickering, Holt & Co., now a part of Perella Weinberg Partners; and Robert Turnham, former President, Director and founding partner of Goodrich Petroleum Corporation, a public exploration and production company for 26 years prior to its sale in 2021.
The board of directors previously included Governor Bill Richardson, former U.S. Secretary of Energy, U.N. Ambassador and Governor of New Mexico, prior to his passing. NAE is saddened by his passing and is deeply appreciative for the guidance and counsel he was able to provide, and its thoughts and prayers are with Governor Richardson’s family during this difficult time.
The Company plans to add a new independent director in the near future.
NAE is led by CEO William I.Y. Byun, a seasoned expert in infrastructure investing and renewable energy across the Asia climate sector, and CFO Mayank Vishnoi, who previously served as CEO of a listed holding company at SGX (Singapore) and worked on multiple fund-raising transactions in the infrastructure and renewable energy sectors across Southeast Asia. Both Byun and Vishnoi are also currently serving respectively as Chief Sustainability Advisor and Chief Financial Officer of ChemOne Group.
“Leading NAE’s investment and executing on our strategic goal in Southeast Asia is an executive management team and board of directors with extensive public and private sector experience in energy, sustainability, and finance,” said Byun. “We look forward to establishing and building a market leading position in this high demand business and rapidly growing area of the world.”
To learn more about NAE, please visit www.newaseanenergy.com.
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