In November 2020, PETRONAS signed a Memorandum of Understanding with Sarawak Energy Berhad (SEB) for joint techno-commercial study of green hydrogen production and its value chain. This collaboration is expected to provide insights into the potentials of a hydrogen supply chain in Asia. Among the key areas in this partnership is a techno-commercial evaluation of a large-scale hydrogen production facility through the electrolysis process by utilising renewable energy supplied by SEB.
through responsible investments.
with Specialty Chemicals
Building upon our experience as a fully-integrated global LNG player, we exemplified our commitment to sustainability with the world’s first floating LNG solution in 2016, the PFLNG SATU, a mobile facility capable of processing LNG while offshore. Its ability to reach stranded gas fields up to 200 metres underwater removes the need for pipelines, enabling us to produce cleaner energy while protecting the environment. In 2020, we continue to define the future of LNG with the introduction of the PFLNG DUA, the world’s first deep-water FLNG capable of extracting gas reserves up to 1,500 metres underwater. Delivered through innovation with an emphasis on reducing carbon emissions, our FLNG solutions enable us to power the world with an uninterrupted supply of cleaner energy produced in a sustainable manner.
We are committed to the development and scalability of future technology and the ecosystems that bring them to life. PETRONAS Ventures (formerly known as PETRONAS Corporate Venture Capital) was established in 2019, driving technology innovation to maintain PETRONAS’ competitive edge in this ever disruptive and challenging business environment. Our investment verticals focus on Industry 4.0, advance materials and specialty chemicals as well as future of energy.
We mark our foray into venture capital through investments in Braintree Technologies Sdn Bhd and SOLS Energy Sdn Bhd. Both companies are graduates of PETRONAS FutureTech Accelerator 2019, which aims to contribute to Malaysia’s economic future and growing domestic ecosystem.
Investment in Braintree Technologies supports robotics and artificial intelligence software development that would provide total agricultural solutions, converting non-revenue generating land into high-value crop farms via automated farming. Investment in SOLS Energy reaffirms our commitment to renewable energy as a solutions partner. It helps to expand the innovative business model that provides sustainable energy for residential and small-to-medium enterprise (SME) sectors.
PETRONAS Ventures will continue to support PETRONAS’ business growth and sustainability agenda through strategic investment, partnerships and collaborations, closely in line with our Sustainability Agenda, in our commitment to UN SDGs and our Statement of Purpose as a Solutions Partner.