KUALA LUMPUR, July 27 (Bernama) — The UMW Group, together with the Malaysian Green Technology and Climate Change Centre (“MGTC”) and Mitsui & Co., Ltd. (“MITSUI”) have entered into a tripartite Memorandum of Understanding (“MOU”).
The MOU paves the way for potential collaboration in activities that are aligned to national initiatives such as the Low Carbon Cities Framework, Sustainable Consumption and Production, as well as Green Innovations and Sustainable Energy Programme which also include areas related to hydrogen economy.
Through the collaboration, the UMW Group will explore opportunities, coordinate, facilitate and support the activities in the Renewable Energy Sector and Low Carbon Mobility. Emphasis will be placed on areas related to the hydrogen economy, its ecosystem and related green technology. MITSUI in turn will provide information and advice for the production and commercialisation via the utilisation of innovative and technology development whereas MGTC will offer consultation and advisory services to both the UMW Group and MITSUI. This is to ensure alignment of the projects towards national goals and initiatives. The three parties will leverage on each other’s expertise and knowledge to accelerate innovation, technology demonstration, value chain development and commercialisation of green products and services.
Dato’ Sri Tuan Ibrahim Tuan Mat, Minister of Environment and Water and Hiroshi Oka, the Japanese ambassador to Malaysia witnessed the virtual MOU exchange ceremony, held today during the International Hydrogen Economy Forum and Strategic Lab. Dato’ Ahmad Fuaad Kenali, President and Group CEO of UMW Holdings Berhad, Shamsul Bahar Mohd Nor, Chief Executive Officer of MGTC and Daiji Kojima, Managing Director of Mitsui & Co. (Malaysia) Sdn. Bhd. participated at the MOU exchange ceremony.
Shamsul Bahar Mohd Nor, Chief Executive Officer of MGTC remarked, “MGTC, together with the Ministry of Environment and Water, has prepared the Low Carbon Mobility Blueprint document, which was developed to be in line with Thrust 4 of the National Transport Policy 2019-2030. This document is now going through its final stages of refinement and will be tabled for government adoption soon. Furthermore, MGTC believes that hydrogen will be the future sustainable power source across all sectors and industries. We believe that Malaysia is already a step ahead in the hydrogen initiative in the Southeast Asia region.”
“Partnership with international players also helps Malaysia to fulfil its potential to become the prime mover in areas related to hydrogen economy. We are pleased to have MITSUI and UMW, both with global footprint, to offer guidance and expertise in this endeavour. Besides, this collaboration would also pave the way for more industry players to support the hydrogen economy, hence catalysing the national effort in propelling hydrogen research and innovation. All parties will also leverage on each other’s expertise and knowledge of the green industry to help accelerate the development and commercialisation of green product innovations”, he added. While spearheading green technology and aligning it with the national green agenda, MGTC also hopes that this initiative can boost Malaysia’s economic activities and capabilities, as well as amplifying employment opportunities during the post-COVID-19 recovery phase.
In commenting on the MOU, Dato’ Fuaad said, “The UMW Group is committed to support the government’s initiative to promote national green agenda in addressing climate change. Energy transition has accelerated, brought about by the COVID-19 pandemic. The Group firmly believes that it should take advantage of the energy transition to explore clean and sustainable energy sources and technology more aggressively especially hydrogen and its ecosystem to power sustainable mobility business in the future.”
This collaboration, he added, bodes well with the UMW Group’s aspiration to leverage on evolving technologies to generate growth along the green value chain. The clean and sustainable properties of hydrogen provide an extremely interesting alternative energy to power our future growth responsibly and sustainably.
About UMW
The UMW Group is an international conglomerate that develops industries, manages partnerships and facilitates growth. It is involved in four core business segments – Automotive, Equipment, Manufacturing & Engineering and Aerospace. The Group operates in 8 countries and has over 7,000 employees.
Moving forward, UMW strives to play a leading role in shaping the future of its industries. The Company will do this by inspiring vibrant ideas, nurturing potential, pioneering partnerships and delivering excellence in everything it does; the rewards of which will contribute to the progress and well-being of all its stakeholders.
About MGTC
Malaysian Green Technology and Climate Change Centre (MGTC) is an agency of the Ministry of Environment and Water (KASA) mandated to drive the country in the scope of Green Growth, Climate Change Mitigation and Green Lifestyle.
Three national policies, particularly the National Green Technology Policy (NGTP), the National Climate Change Policy (NCCP) and the Green Technology Master Plan (GTMP), regulated MGTC’s role as a catalyst for green economic growth.
MGTC’s initiatives and programs focus on achieving a long-term impact by 2030 with a 45% reduction rate in the country’s greenhouse gas emissions, increasing GDP from green technology by RM100 billion and generating 230,000 green job opportunities.
About MITSUI
Mitsui & Co., Ltd. (8031: JP) is a global trading and investment company with a diversified business portfolio that spans 64 countries in Asia, Europe, North, Central & South America, The Middle East, Africa and Oceania.
Mitsui has over 44,000 employees and deploys talent around the globe to identify, develop, and grow businesses in collaboration with a global network of trusted partners. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries.
Leveraging its strengths, Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative Energy Solutions, Healthcare & Nutrition and through a strategic focus on high-growth Asian markets. This strategy aims to derive growth opportunities by harnessing some of the world’s main mega-trends: sustainability, health & wellness, digitalization and the growing power of the consumer.
SOURCE: UMW Corporation Sdn. Bhd.
FOR MORE INFORMATION, PLEASE CONTACT:
UMW
Name: S Vikneshwaran
General Manager – Group Investor & Media Relations
UMW Corporation Sdn. Bhd.
Tel: +603 2025 2104 / +6019 850 5799
Email: vikneshwaran.s@umw.com.my
MGTC
Name: Intan Syazwani Isa
Head of Corporate Communications
MGTC
Tel: 012-7023110
Email: comms@mgtc.gov.my
MITSUI
Name: Shoichiro Koga
Corporate Communication Div.
Mitsui & Co., Ltd.
Tel: +81 90 5196 8034
Email: tkabp@dg.mitsui.com
–BERNAMA