MYBiomass Sdn. Bhd. (“MYBiomass”) is a special purpose vehicle Initiated by the Malaysian Industry-Government Group for High Technology (MIGHT), and is a joint-venture company, together with FGV Holdings Berhad and Sime Darby Plantation Berhad, established to pioneer high-value green chemicals and materials biorefinery through coordinated aggregation.
The foremost undertaking by MYBiomass is to move up the value chain of biomass industry by producing high value green chemical which can be used in downstream application, benefitting the materials, energy and pharmaceutical industries. MYBiomass is expected to make a substantial contribution to the production of high-value green chemicals and/or materials for local and international players.
As renewable resources, biomass can complement and/or substitute the depleting resources such as fossil based. Moreover, production of chemicals from lignocellulosic biomass overcomes the food vs fuel issues, originated from the usage of food material to produce fuel. As a result, product sustainability can be maintained and price volatility can be mitigated. In addition to this, usage of green chemical reduces the carbon footprint in a product supply chain.
1. To capitalise on Malaysia’s existing strengths in the oil palm industry & untapped opportunities from biomass, for technological and economic gains.
2. To shift focus towards downstream production of high value green chemicals & products manufacturing.
3. To attract the anticipated full scale commercialisation of renewables or green technology R&D by global technology companies.