HYCO1, PETROS and PJ Energy Services Announce Strategic Partnership
HYCO1 today announced the signing of a Joint Collaboration Agreement (JCA) with Petroleum Sarawak Berhad (PETROS) and PJ Energy Services (M) Sdn Bhd (PJES), marking a significant step toward advancing commercially viable carbon utilization and low-carbon industrial development in Malaysia's Sarawak state.
HYCO1 announced today the signing of a Joint Collaboration Agreement (JCA) with Petroleum Sarawak Berhad (PETROS) and PJ Energy Services (M) Sdn Bhd (PJES), marking a significant step toward advancing commercially viable carbon utilization and low-carbon industrial development in Sarawak, Malaysia.
Under the agreement, HYCO1, PETROS and PJES will collaborate to identify and evaluate opportunities to convert CO2 emissions into high-value industrial products. The collaboration will assess the deployment of HYCO1's proprietary CO2 utilization technology, which combines captured CO2 with natural gas to produce synthesis gas (syngas) at chemical quality for downstream industrial use.
HYCO1's technology enables low-carbon syngas production while reducing natural gas consumption by up to 50% for equivalent output volumes. This approach extends natural gas reserves, reduces production costs and supports the transition to low or near-zero emission industrial processes.
The collaboration is intended to align with Sarawak's Gas Roadmap and PETROS's ongoing carbon capture, utilization and storage (CCUS) initiatives. The primary focus will be the development of localized, low-carbon production hubs that enhance the region's competitive advantage for sustainable industrial investment and cost-effective production while supporting Sarawak's decarbonization targets.
"This agreement represents an important opportunity to deploy our technology in a region that is taking a proactive and strategic approach to low-carbon industrial growth," said Gregory Carr, Chief Executive Officer of HYCO1.
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