US company Greenbelt Resources Corp (OTCMKTS:GRCO) has signed a memorandum of understanding (MoU) with Indonesian real estate developer PT Jababeka Tbk about a waste-to-bioproducts project in Jakarta.

The JababECO project will use Greenbelt's ECOsystem technology and will process municipal food waste to produce 500,000 gallons (1.9 million litres) of bioethanol, as well as other bioproducts such as animal feed and fertilizer.

"Our technology was specifically developed to address local municipal waste needs, a tremendous challenge in growing cities like Jakarta," Greenbelt Resources chief executive Darren Eng said, adding that the project could create a model for municipal waste management across the country and worldwide.