KUALA LUMPUR: Nextgreen Global Bhd has entered into a Memorandum of Understanding (MoU) with Japanese firms,IHI Corporation and Nomura Holdings Inc, to form a green technology investment partnership.
In a filing to Bursa Malaysia, Nextgreen said it is currently developing technology to convert Empty Fruit Bunch (EFB) into pulp and paper to solve environmental issues caused by wasted EFB in the palm oil industry and has begun construction of a EFB Pulp plant in Pahang.
IHI has vast experience in energy solutions and has also begun commercial operations to produce pellet made from EFB. It also desires to secure a stable procurement route for the necessary volume of EFB.
Nomura, on the other hand, is a financial holding company which hopes to contribute through its financial advisory services for the realisation of green technology.
It said the parties agreed to conduct a feasibility study of the business, specifically the potential business derived from combining the sale of EFB Pulp, EFB Paper and EFB Pellet, including the procurement of EFB which is the raw material for the products.
The MOU would commence today and expire in one year or when the parties enter into the final form of documentation relating to the cooperation. – Bernama
