Kreido Biofuels, Inc. (OTCPK:KRBF.D) signed a Memorandum of Understanding to acquire 70% stake in Hong Kong Satellite TV Cultural Tourism Industry Group Co. Ltd. and Beijing Yuanmeng Xingguang International Film Cultural Media Co. Ltd.

Namliong SkyCosmos Inc, formerly Kreido Biofuels, Inc, is a Taiwan-based company mainly engaged in providing renewable energy through its process intensification technology, the spinning-tube-in-tube (STT). The STT chemical process intensification system provides solutions to many of the manufacturing issues related to the production of chemicals. The Company has developed production units to manufacture biodiesel fuel based upon its STT technology. Its offerings include STT 30G biodiesel production unit, which is a complete, pipe-to-pipe biodiesel production system. In addition to its STT 30G, it also offers STT Reactor Systems and related plant engineering services for partnerships.