On the sidelines of the United States-Japan-Philippines Trilateral Meeting in Washington, D.C., Department of Trade and Industry (DTI) Secretary Fred Pascual engaged in discussions with representatives from Wagmi Solutions (WS), the parent company of NanoForge Technologies.
Their meeting focused on NanoForge’s plans to establish a manufacturing facility in the Philippines dedicated to producing high-efficiency air filters using activated carbon sourced from coconut shells, directly benefiting Filipino coconut farmers.
The proposed facility will specialize in the production of High Efficiency Particulate Air (HEPA) filters, designed to remove a significant percentage of airborne particles, including dust, pollen, mold, bacteria, and viruses.
The manufacturing process will utilize activated carbon sourced from coconut shells, directly benefiting Filipino coconut farmers.
Nanoforge will manufacture and export these HEPA filters to its main customer Medify Air – a major air purifier brand in the US.
“Through the Philippine Economic Zone Authority (PEZA), we are committed to ensuring that this venture is successful and beneficial for all parties involved.”
Pascual expressed his support for the venture, stating, “We welcome NanoForge’s investment, which aligns perfectly with our goals to strengthen the coconut industry and create more jobs for Filipinos. Through the Philippine Economic Zone Authority (PEZA), we are committed to ensuring that this venture is successful and beneficial for all parties involved.”
The investment plan is poised to enhance the coconut industry and create numerous job opportunities in the manufacturing sector.
NanoForge’s advanced air filters offer innovative solutions tailored for residential, commercial, and industrial applications.
The next steps include a meeting with PEZA officials to discuss the incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
These incentives, aimed at export-oriented manufacturers, offer a range of financial benefits including an Income Tax Holiday, options for a reduced Corporate Income Tax or enhanced deductions, and tax and duty-free importation of capital equipment, raw materials, and spare parts.
Additionally, they provide VAT exemptions, a substantial domestic sales allowance, and exemption from local government taxes and fees.
In 2024, WS registered NanoForge Technologies in the Philippines to produce HEPA filters for Medify Air, aiming to diversify manufacturing operations currently based in China and Mexico.
