Elridge Energy inks 15-year biomass fuel contract with Japanese trading firm

KUALA LUMPUR: Elridge Energy Holdings Bhd via its wholly-owned subsidiary Bio Eneco Sdn Bhd has inked a memorandum of understanding (MoU) with Tokyo-based JFE Shoji Group.

In a statement, Elridge Energy said it will supply 150,000 tonnes of green gold label certified palm kernel shells annually over a 15-year period from April 2025 to March 2040.

The long-term MoU is expected to contribute positively to Elridge Energy’s financial performance into the foreseeable future.

Elridge Energy executive director and CEO Oliver Yeo said the MoU shows that the demand for certified biomass fuel is growing, especially in countries like Japan, which is highly committed to addressing climate change.