Boustead Plantations Berhad (BPB) today signed a Document of Understanding (DoU) with New Generation Oil Group (NGOG) to explore and examine the feasibility of using Dry Algae Cake for organic fertiliser to be used in plantation.
The DoU was signed between BPB CEO Zainal Abidin Shariff and NGOG CEO Peter Kim during the launching ceremony of Algae Tank Farm – Vendor Development Program held at Damansara.
Witnessing the signing ceremony were Boustead Holdings Berhad’s Deputy Group Managing Director Izaddeen Daud and and NGOG Executive Chairman Dato’ Indera Mohamed Moiz J M Ali Moiz.
The signing ceremony between BPB and NGOG was among agenda for the launching ceremony, which saw Boustead Holdings Berhad (BHB) and NGOG solidifying their partnership in creating a viable and sustainable ecosystem infrastructure for the production of crude algae oil.
The ceremony was officiated virtually by Minister of Science, Technology and Innovation Dato’ Sri Dr Adham Baba.
Approximately 150 guests attended the ceremony held at Piazza E-Curve, Mutiara Damansara. Among the invitees were participants of Boustead Green Army, which was another iconic project by BHB under the ‘BIJAU’ agenda.
BHB and NGOG initiated this partnership to jointly explore and promote the development of crude algae oil in Malaysia as a new carbon neutral biomass commodity in the renewable energy space back in April 2021.
The partnership contributes towards Malaysia realising its Net Zero Carbon Agenda by 2050.