Jentayu Sustainables, Petrolife form alliance to develop sustainable energy solution
KUALA LUMPUR: Jentayu Sustainables Bhd (Jentayu Sustainables) and Petrolife Aero Sdn Bhd (Petrolife) are pleased to announce that they have entered into a shareholders agreement for the purpose of forming a business collaboration on sustainable energy solution in Malaysia.
Jentayu Sustainables is in the business of providing sustainable energy solutions utilising renewables and green technology, while Petrolife is in the business of sourcing and supplying Liquified Natural Gas (LNG) and Natural Gas (NG) to commercial and industrial entities in Malaysia.
The union of Jentayu Sustainables and Petrolife is in the spirit of complementing and creating synergistic values to provide sustainable energy solutions – utilising Solar PV and co-generation (Co-Gen) technology. The latter of these two solutions utilises LNG or NG that Petrolife is currently supplying to various commercial and industrial facilities in Malaysia.
Through this joint venture, Jentayu Sustainables will hold a 51 per cent equity interest and the remaining 49 per cent will be owned by Petrolife.
“We have decided to formalise this relationship and leverage on our respective core expertise, vast experiences and comprehensive industry network.
“We believe that we are able to address industries’ net-zero aspiration and needs towards transitioning into using sustainable and cleaner energy, including renewable energy certificate and carbon credit acquisitions, carbon related audit and consultations.”
“Building strategic alliances is pertinent to our long-term growth strategy. Hence, our partnership with PETROLIFE will bring new opportunities, prospects and synergies to both parties.
“We remain steadfast in our pursuit to become a leading sustainable energy player, building from strength to strength, hinging on sustainability as our focal point in all that we do,” said Datuk Beroz Nikmal Mirdin, executive chairman of Jentayu Sustainables.