BIP was incorporated in the UK in February 2006 and was admitted to trading on the AIM market on the London Stock Exchange in May 2006.
BIP made its first investment in November 2006, when it acquired Zurex which was issued with a licence to produce biodiesel from palm oil in Lahad Datu, Sabah, Malaysia. Zurex has since been issued with an additional licence to refine palm oil in Lahad Datu, Sabah, Malaysia.
Zurex's refinery sits on a 14 acre plot of land in POIC Lahad Datu, Sabah, Malaysia. POIC is an entity set up and owned by the State Government of Sabah, Malaysia to spearhead palm oil downstream processing in order to add value to its growing oil palm industry and to create more jobs and business opportunities.
The land acquired by Zurex is of sufficient acreage to build both a bio-diesel manufacturing plant and a palm oil refining plant with room for future expansion.