KUALA LUMPUR – Jentayu Sustainables Bhd and Petrolife Aero Sdn Bhd have entered into a shareholders’ agreement to collaborate on sustainable energy solutions in Malaysia.
In a statement today, Jentayu Sustainables executive chairman Datuk Beroz Nikmal Mirdin said the firms will work on solutions utilising solar photovoltaic and co-generation technology.
The latter utilises liquified natural gas and natural gas that Petrolife currently supplies to various commercial and industrial facilities in Malaysia.
Through this joint venture, Jentayu Sustainables will hold a 51% stake and the remaining 49% will be owned by Petrolife.
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“We have decided to formalise this relationship and leverage on our respective core expertise, vast experiences, and comprehensive industry network.
“We believe that we are able to address industries’ net-zero aspiration and needs towards transitioning into using sustainable and cleaner energy, including renewable energy certificates and carbon credit acquisitions, carbon related audits and consultations.
“Building strategic alliances is pertinent to our long-term growth strategy. Hence, our partnership with Petrolife will bring new opportunities, prospects, and synergies to both parties,” Beroz said.
He added Jentayu Sustainables remains steadfast in its aim to become a leading sustainable energy player. – The Vibes, September 30, 2022
