KUCHING: InvestSarawak and TOYO Engineering Corporation has inked a Memorandum of Understanding (MoU) in a move to advance the Sarawak government’s energy transition agenda.
The strategic collaboration aims to help TOYO explore and facilitate potential investment projects in Sarawak in alignment to the company’s energy transition strategies.
In addition, the MoU outlines the commitment of both parties to establish a cooperative framework that will foster collaboration on potential energy projects critical to the Sarawak government’s energy transition initiatives.
TOYO has expressed its readiness to assist in the development of value chain planning services essential for realising these initiatives.
Such initiatives include developing green hydrogen projects, carbon capture and storage (CCS), waste-to-energy projects that convert organic waste materials into energy, energy storage solutions such as battery storage or pumped hydro storage, and smart grid technology to enhance the efficiency and reliability of the electrical grid.
The partnership is expected to not only support the transition to renewable energy in Sarawak but also stimulate local employment and technological development, marking a significant milestone in the region’s economic landscape.
InvestSarawak chief executive officer Timothy Ong said that the partnership with TOYO is a testament to Sarawak’s commitment to embracing clean and sustainable energy sources that will propel our economic and social development forward.
“This collaboration will leverage TOYO’s global insights and technological advancements to enhance our local capabilities.”
Meanwhile, TOYO Engineering Corporation senior executive officer and Business Development and Marketing Unit director Casey Takeshi Matsumuro said the company is honoured to support Sarawak’s ambitious energy goals.
“This collaboration allows us to bring our expertise and technology to the forefront of Sarawak’s energy landscape, aligning with our mission to contribute to sustainable growth globally.”
Under the purview of the Ministry of International Trade, Industry and Investment (MINTRED) of Sarawak, InvestSarawak serves as the One-Stop-Centre dedicated to attracting investments that align with Sarawak’s vision for 2030 for sustainability and growth.
TOYO, with its track record and expertise in engineering, procurement, construction, and technical services across various sectors, including oil and gas, petrochemicals, and renewable energy, brings its global experience and innovative technologies to this partnership.
With 87 ammonia plants and over 48 ammonia storage tanks globally, TOYO is positioned to contribute significantly towards sustainable energy solutions in Sarawak.
