KUALA LUMPUR: Jentayu Sustainables Bhd has entered into a shareholders agreement with Petrolife Aero Sdn Bhd to collaborate on sustainable energy solutions in Malaysia.
Jentayu Sustainables will hold a 51 per cent stake in the joint venture and the remaining 49 per cent will be owned by Petrolife.
Jentayu Sustainable executive chairman Datuk Beroz Nikmal Mirdin said the company had decided to formalise the relationship and leverage on their respective core expertise, vast experiences and comprehensive industry network.
Jentayu Sustainables believes that it will be able to address industries' net-zero aspiration and needs towards transitioning into using sustainable and cleaner energy.
"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.
"We remain steadfast in our pursuit to become a leading sustainable energy player, building from strength to strength, hinging on sustainability as our focal point in all that we do," he said in a statement.
Jentayu Sustainables and Petrolife said the partnership was in the spirit of complementing and creating synergistic values to provide sustainable energy solutions, utilising solar photovoltaics and co-generation technology.
The latter of these two solutions utilises liquefied natural gas that Petrolife is currently supplying to various commercial and industrial facilities in Malaysia.