New Concepts Holdings Ltd. has entered into a discloseable transaction agreement for the development of an urban biomass biorefining and carbon sequestration project in the People's Republic of China (PRC). The project is set to take place in collaboration with the Haimen Economic and Technological Development Zone. As of now, the company is negotiating the project's operational model, which could potentially proceed on a Build-Operate-Transfer $(BOT.AU)$ basis. This would allow New Concepts Holdings to use and operate the facility during the concession period, while the Haimen Economic and Technological Development Zone would retain residual interest after the period concludes. The financial implications of the agreement are still being determined.