A new company launched Monday by Prime Minister Datuk Seri Najib Tun Razak will ensure the sustainable supply of palm biomass for the production of high value chemicals and by-products for energy generation through coordinated collection and aggregation.
MYBIOMASS Sdn. Bhd. was launched as part of the Malaysian Biomass Initiative (MBI), a program of the Prime Minister's Global Science and Innovation Advisory Council (GSIAC), and is expected to contribute substantial revenue to national income from industrial chemical, product manufacturing and green chemical sectors.
MYBIOMASS will enter into partnership agreements to support development of downstream technology for the production of high value chemicals and by-products for energy generation, creating opportunities for research institutes, technology companies and other downstream players.
Early partners of MYBIOMASS include the Malaysian Industry-Government Group for High Technology (MIGHT) and Malaysian Biotechnology Corporation Sdn. Bhd., or Biotech Corp. Potential early participation from FELDA and Sime Darby is expected for the aggregation of biomass feedstock.
MIGHT co-chairs the secretariat for GSIAC, which over sees MBI. Biotech Corp. is expected to play a key role in providing industry linkages to downstream companies.
"This program will capitalize on Malaysia's existing strength in the oil palm industry and untapped opportunities from biomass for technological and economic gains that will create high value jobs and sustainable income for the country," said Puvaneswari Ramasamy, newly appointed Managing Director of MYBIOMASS.
"The launch of MYBIOMASS marks a significant milestone in the development of sustainable biomass feedstock supply and is expected to make a substantial contribution to the production of high value green chemicals for local and international downstream users particularly in pharmaceutical, materials and energy industries," she added.
As the focal point for biomass feedstock aggregation and supply MYBIOMASS will act as a long-term purchaser of oil palm biomass and bring forward the biomass to market for further optimization of the resources by moving it into higher value processes.