Home-grown biomass manufacturer expects booming renewable energy market to fuel growth trajectory
Kuala Lumpur, 17 October 2022 – Bio Eneco Sdn Bhd (BioEneco), a leading Malaysia-based biomass fuel developer, manufacturer and supplier, today said that it is well-poised to expand its biomass fuel sales exponentially in tandem with increased demand from countries like Japan, South Korea, Thailand and the Philippines.
The company’s confidence stem from its success in expanding its sales portfolio with recent contract wins in Japan and the Philippines. To date, Bio Eneco has exported millions of tons of high-grade biomass fuels globally. Its products can be found and used widely in Asia’s power plants & industrial plants. The company is also ready to tap into the massive household market in European countries.
For the next three years, BioEneco has been engaged and planned to supply 2.3 million metric tons (MT) of biomass fuels globally. The Company also aims to focus on Japan, which has a projected total biomass demand of 23 million tons in 2025, nearly triple the current rate. In order to facilitate its global expansion, BioEneco plans to expand its Biomass Hub nearby Northport, Port Klang.
Oliver Yeo, Managing Director of BioEneco, said, “Japan is the 5th largest biomass market in the world. Following the 2011 Fukushima Daiichi Nuclear Accident, the Japanese government shifted from fossil dependency to renewable energy, aiming to account for 22-24% of its electricity mix by 2030. To date, over 800 biomass power projects generating more than 16 gigawatts have been approved. This has effectively spurred the demand for biomass fuels like Palm Kernel Shell (PKS) and Wood Pellets as more renewable energy facilities come on stream.”
“BioEneco has secured contracts with top multinational corporations to supply biomass fuels to power plants in Japan and is expecting to secure more in the upcoming months. As a leading biomass fuel developer, manufacturer and supplier with a strong presence in the region, we are confident that our high-quality products will be able to meet Japan’s demand.”
In addition, BioEneco is currently contracted to supply biomass fuel products to South Korea, Thailand and Philippines. The first bulk PKS shipment, weighing 6,800 metric tonnes, to the Philippines was shipped by BioEneco and arrived at the Port of Manila recently.
PKS is widely used as a clean and efficient alternative to traditional mined coal for energy generation.
BioEneco was established in 2011 to use natural resources for the benefit of mankind. Aside from PKS, BIO ENECO™ also produces other green products, including wood pellets, EFB pellets and wood chips for industrial and residential use. Its products are currently exported to countries like Japan, China, South Korea, Thailand and The Philippines.
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