Latest news with #BioNexusStatus
New Straits Times
15-05-2025
- Business
- New Straits Times
Malaysia, Japan seal RM1.34bil deals at Expo 2025 Osaka
KUALA LUMPUR: Malaysia and Japan have signed three strategic agreements valued at RM1.34 billion during Expo 2025 Osaka. A standout deal involves a joint venture between reNIKOLA Holdings Sdn Bhd and Japan's Sumitomo Corporation to develop renewable fuels. The collaboration will utilise palm oil production residues to produce biomethane and low-carbon derivatives such as liquefied biomethane and biomethanol. The second deal involved MTC Orec Sdn Bhd, a bioenergy firm under the Bio-based Accelerator (BBA) programme, partnering with Japan's IHI Plant Services Corporation to advance biogas technology development in Southeast Asia. In the third agreement, Glyken Bio Products Sdn Bhd, a BioNexus Status company, signed a Memorandum of Agreement and supply contract with Japan's Respect Co., Ltd. to distribute its bird's nest glycopeptide-based products in the Japanese market. Held on 12 May at the Malaysia Pavilion during the launch of MOSTI Week, the event marked a key milestone in strengthening Malaysia-Japan collaboration to promote a low-carbon and bio-based economy, in line with global sustainability goals. The initiative was led by the Malaysian Bioeconomy Development Corporation, an agency under the Ministry of Science, Technology and Innovation (MOSTI). Bioeconomy Corporation said the collaborations involve the development of renewable energy and the commercialisation of sustainable biotechnology products, aligning with the aspirations of the National Biotechnology Policy 2.0 and global sustainability goals. Its chief executive officer, Mohd Khairul Fidzal Abdul Razak, stated that choosing Japan as Malaysia's strategic partner in innovation and technology highlights the importance of international collaboration in driving green economic growth and tackling global climate issues. "Malaysia is proud to showcase the nation's bioeconomy potential to the global market through strategic collaborations such as this. "While leveraging Japan's expertise in green innovation, BioNexus Status companies and those under the Bio-based Accelerator (BBA) programme are well positioned to drive transformation in renewable energy, sustainable agriculture, and bio-based products," he said. Mohd Khairul said this collaboration not only creates economic benefits but also plays a significant role in promoting a more sustainable, low-carbon future on both regional and global scales.
New Straits Times
13-05-2025
- Business
- New Straits Times
reNIKOLA, Sumitomo to develop bioenergy projects in Malaysia, Indonesia
KUALA LUMPUR: Renewable energy company reNIKOLA Holdings Sdn Bhd has signed a memorandum of understanding (MoU) with Japanese trading house Sumitomo Corporation to jointly develop large-scale bioenergy projects in Malaysia and Indonesia. In a statement today, reNIKOLA said the MoU, signed at the Malaysia Pavilion during Expo 2025 Osaka, marks an important move towards advancing the region's clean energy transition. "The collaboration will focus on converting palm oil production residues into advanced renewable fuels, targeting the development of biomethane and low-carbon derivatives such as liquefied biomethane (LBM) and biomethanol. "This initiative aims to fortify the region's energy resilience with the conversion of palm oil wastes intosustainable fuel, while spearheading the decarbonisation of the palm oil sector," it said. It added that the collaboration aims to accelerate the transformation of Malaysia and Indonesia, the world's largest palm oil producers, into low-carbon economies. "The sustainable development driven by this partnership is expected to build a next-generation business that contributes to a carbon-neutral society by establishing a sustainable energy cycle and advancing global decarbonisation," reNIKOLA said. Managing director Boumhidi Abdelali said the company believes the partnership will support efforts to develop cleaner energy in Malaysia and Indonesia, while promoting more sustainable practices in the palm oil industry. "We are also thankful to Bioeconomy Corp for their unwavering support and recognition for our technology and expertise. "To date, we have registered our company under Bioeconomy Corp's Bio-based Accelerator Program, which aims to infuse science, technology, and strategic investments into our bioenergy business," he said, adding that the company is also in the process of obtaining BioNexus Status. BioNexus Status is a special designation by Bioeconomy Corp that offers various benefits to eligible biotechnology companies, including tax incentives, funding access, operational flexibility and infrastructure support. Sumitomo Corporation's head of Indonesia energy solutions, Takechi Muramatsu, said the company looks forward to working with reNIKOLA, which shares its focus on sustainable growth and energy transition. "By combining our expertise and resources, we aim to set new standards for innovation, environmental responsibility and low-carbon energy solutions in the region, while driving Asia's clean energy transition," he said. The MoU was signed by Abdelali and Muramatsu, witnessed by Ministry of Science, Technology and Innovation secretary general Datuk Seri Hasnol Zam Zam Ahmad.
