RENIKOLA INKS MOU WITH SUMITOMO TO DEVELOP BIOENERGY PROJECTS IN MALAYSIA, INDONESIA

KUALA LUMPUR, May 13 (Bernama) -- 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 into sustainable 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.

-- BERNAMA