HYCO1 today announced the execution 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 application of HYCO1's patented CO2 utilization technology, which combines captured CO2 with natural gas to produce chemical-grade synthesis gas (syngas) for downstream industrial use.
HYCO1's technology enables the production of low-carbon syngas while reducing natural gas consumption by up to 50% for equivalent output volumes. This approach extends natural gas reserves, lowers production costs, and supports the transition toward low- or near-zero-emissions industrial processes.
The collaboration is intended to align with the Sarawak Gas Roadmap and PETROS' ongoing carbon capture, utilization, and storage (CCUS) initiatives. A key focus will be the development of localized, low-carbon production hubs that support Sarawak's decarbonization objectives while enhancing the region's competitiveness for sustainable industrial investment and low-cost manufacturing.
"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.
