Straits Energy Resources unit certified to enter marine biofuel industry

KUALA LUMPUR: Bursa Malaysia-listed Straits Energy Resources Bhd said its subsidiary Tumpuan Megah Development Sdn Bhd is set to enter the marine biofuel trading and bunkering industry in the first quarter of 2024 after it was certified by the International Sustainability and Carbon Certification (ISCC EU) scheme.

The breakthrough comes as the maritime industry’s accelerates its transition to low-carbon alternative fuels, such as sustainable biofuels, as part of the global decarbonisation agenda.