KUCHING, Apr 22: InvestSarawak has inked a Memorandum of Understanding (MoU) with TOYO Engineering Corporation today, to enhance its collaboration in Sarawak’s energy transition initiatives.
The MoU outlines the commitment of both parties to establish a cooperative framework that will
foster collaboration on potential energy projects that include developing green hydrogen projects, carbon capture and storage (CCS) and waste-to-energy projects.
“The partnership with TOYO is a testament to Sarawak’s commitment to embracing clean and
sustainable energy sources that will propel our economic and social development forward.
“This collaboration will leverage TOYO’s global insights and technological advancements to enhance our local capabilities,” said CEO of InvestSarawak, Timothy Ong.
The partnership also include energy storage solutions such as battery storage or pumped hydro storage, and smart grid technology to enhance the efficiency and reliability of the electrical grid.
Meanwhile, TOYO has expressed its readiness to assist in the development of value chain planning services essential for realising these initiatives.
“We are honoured to support Sarawak’s ambitious energy goals.
“This collaboration allows us to bring our expertise and technology to the forefront of Sarawak’s energy landscape, aligning with our mission to contribute to sustainable growth globally,” said its Senior Executive Officer (Unit Director of Business Development and Marketing Unit) Casey Takeshi Matsumuro.
The partnership is expected to not only support the transition to renewable energy in Sarawak
but also stimulate local employment and technological development, marking a significant
milestone in the region’s economic landscape. -TVS
