Investment in Sarawak and Toyo Engineering Co., Ltd. sign a memorandum of understanding to promote energy transition in Sarawak

Kuching: InvestSarawak and TOYO Engineering Corporation have signed a memorandum of understanding (MoU) to advance the Sarawak government’s energy transition plan.

The strategic partnership is aimed at supporting TOYO in exploring and promoting potential investment projects in Sarawak in line with the company’s energy transition strategy.

Additionally, the MoU outlines the parties’ commitment to establish a cooperation framework that will facilitate cooperation on potential energy projects that are important to the Sarawak government’s energy transition initiatives.

TOYO has expressed its readiness to support the development of essential value chain planning services to realize these initiatives.

These efforts include green hydrogen projects, carbon capture and storage (CCS), waste-to-energy projects that convert organic waste into energy, energy storage solutions such as batteries and pumped hydro, and the development of smart grid technologies to increase efficiency. It is included. and power grid reliability.

The partnership is expected to not only support Sarawak’s transition to renewable energy, but also stimulate local employment and skill development, marking a significant milestone in the region’s economic landscape.

Invest Sarawak CEO Timothy Ong said the partnership with TOYO is a testament to Sarawak’s commitment to embrace clean and sustainable energy sources that advance economic and social development.

“This partnership leverages TOYO’s global insights and technology advancements to strengthen local capabilities.”

Meanwhile, Toyo Engineering Co., Ltd.’s senior executive officer and director of business development and marketing unit, Casey Takeshi Matsumura, said the company is honored to support Sarawak’s ambitious energy goals.

“This collaboration will allow us to bring our expertise and technology to the forefront of Sarawak’s energy landscape, consistent with our mission to contribute to global sustainable growth.”

Under the jurisdiction of Sarawak Ministry of International Trade, Industry and Investment (MINTRED), InvestSarawak serves as a one-stop center dedicated to attracting investments in line with Sarawak’s 2030 vision for sustainability and growth .

TOYO brings its global experience and innovative technology to the partnership, with a proven track record and expertise in engineering, procurement, construction and technical services across a variety of sectors including oil and gas, petrochemicals and renewable energy. Masu.

With 87 ammonia plants and over 48 ammonia storage tanks around the world, TOYO is well positioned to make a significant contribution to Sarawak’s sustainable energy solutions.

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