Holding companies are often highly diversified and, hence, offer investors an opportunity to have exposure to a number of sectors. One such company that could be worth tracking at this point is Wanderport Corporation (OTC:WDRP), a holding company focused on health technology, clean technology, and energy.
On April 30, the company came into focus after it announced its entry into a joint venture for the purpose of growing its coconut charcoal business globally. The company entered into a joint venture with the principal of Highland BP, a Vietnam-based entity. In the news release, the company announced that the joint venture was a major milestone in its quest to deploy eco-friendly and sustainable fuel alternatives. The letter of intent has been executed between the two parties, and in the next few weeks, the transaction is expected to be closed. Following the closure, a new website and e-commerce platforms related to the joint venture will be launched.
As per the provisions of the agreement, Wanderport Corporation would be responsible for the expansion of its existing international business worth several millions of dollars. The company’s partner in the joint venture would be responsible for local manufacturing, sales, and fulfillment. Wanderport Corporation noted that the coconut charcoal products were sold in more than 20 nations, and the aim was to expand the worldwide foot print considerably.
The ultimate aim was to hit more than $10 million in sales in the upcoming 12 months. In 2023, the worldwide market for charcoal was valued at $6 billion, and by 2029, it is expected to hit a valuation of $8.5 billion, recording a projected CAGR (compounded annual growth rate) of 5.8%. The coconut charcoal market is a subset of that market and is expected to grow by 12.9% over the course of the same period.
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