KUALA LUMPUR: Bio Eneco Sdn Bhd (BioEneco) achieved another milestone by incorporating the Philippines into its agreement with PT Orion APAC Indonesia (Orion), an international biomass fuel supplier and trader.
Initially, the agreement between BioEneco and Orion covered two shipments of palm kernel shell (PKS) per month to Thailand for three years, from April 2020 to March 2024.
Now, the Philippines is also included as a port of call.
A signing ceremony for this inclusion into the agreement was held recently at BioEneco's factory in Port Klang.
BioEneco, a leading Malaysia-based biomass fuel developer, manufacturer, and supplier, was represented by its managing director Oliver Yeo, while Orion was represented by its chief executive officer Max Marcus.
"BioEneco is pleased to see our relationship with Orion grow from strength to strength.
"We are also encouraged and appreciative of Orion's confidence and trust in our products, and together, we trust we can expand our reach to cater to the needs of the biofuels industry in the region as well as globally," he said in a statement.
He said this agreement would see BioEneco deliver 204,000 metric tonnes (mt) of PKS to the Philippines and Thailand annually.
"This will further bolster the company's financial performance significantly in the next few years and enhance our reputation as a key player in the global green energy industry," said Yeo.
Max Marcus said the company is pleased to expand its current agreement with BioEneco.
"We have full confidence in the company's capabilities and abilities as a progressive high-grade biomass fuel energy producer to deliver on its contractual obligations.
"The global biofuel market has been growing exponentially over the recent years, driven by the ever-expanding demand for cleaner and more sustainable energy.
"We at Orion look forward to a long and fruitful partnership with BioEneco in the foreseeable future," he said.