SERSOL (0055) SERSOL BHD unit inks MoU with Aeroleum, Silicon Designs to produce green fuel
KUALA LUMPUR (Oct 1): Sersol Bhd's wholly-owned subsidiary Sersol Energy Sdn Bhd has entered into a Memorandum of Understanding (MOU) with Aeroleum Sdn Bhd and Silicon Designs (M) Sdn Bhd to produce greener and cleaner fuel for Malaysia.
In a filing with Bursa Malaysia, it said the MoU was also inked to capture a sizeable market share of the hydrocarbon fuel market in Malaysia using nano-activated fuel technology (NAFT).
In a separate statement, Sersol said the technology of producing green diesel through NAFT has the potential to reduce up to 50% of carbon and sulphur as well as almost 70% of toxic gases.
"In addition, the specification of diesel production in NAFT does not affect the performance of the fuel and can even provide the benefit of reducing the cost of subsidies by the government.
"This technology has been proven successful and has been adopted by strategic industries in Japan and Thailand on a small scale," it said.
Sersol noted that the introduction of the NAFT system in the diesel industry is in line with Malaysia's efforts on becoming a carbon-neutral country as early as 2025.
"If the Malaysian government gives the trust and approves this new technology to be implemented with the cooperation or smart partnership with them, the pilot project is targeted to be used by fishermen nationwide," it added.