KUALA LUMPUR: Kinergy Advancement Bhd (KAB) has teamed up with Agromate Holdings Sdn Bhd, to spearhead bioenergy or renewable energy (RE) generation across palm oil mills (POM) in the country.
The sustainable energy & engineering solutions specialist said the KAB-AGROMATE collaboration seeks to capitalise on a largely under-tapped market with huge recurring income potentials.
KAB said its unit, KAB Energy Holdings Sdn Bhd (KABEH) entered into a shareholder agreement with Agromate to establish a cooperative partnership via Genplan Advisory & Management Sdn Bhd.
"We are aggressively moving in-line with global efforts to transition to sustainable energy solutions. This partnership with AGROMATE reflects our genuine interest and commitment to lead the charge in innovating the sustainable energy sector, specifically within the palm oil industry.
“Our collaboration will push forward the creation of advanced bioenergy projects and sustainable energy solutions that meet top-notch environmental criteria. Moreover, bioenergy stands as a crucial element among the six energy transition levers outlined in the National Energy Transition Roadmap (NETR),” KAB executive deputy chairman cum group managing director Datuk Lai Keng Onn said in a statement.
“Biogas also promises a 95% reliability rate. This waste-to-energy system transforms waste into useful resources such as steam and electricity. Biogas serves as an ideal replacement for carbon-intensive, non-renewable fossil fuels, which helps to significantly lower the amount of fossil fuels used in the production of energy from renewable sources,” he added.