Mybiomass Sdn Bhd, a special-purpose vehicle (SPV) that will facilitate a sustainable supply of biomass through co-ordinated collection and aggregation for the use of downstream biotechnology industry, is expected to be operational in six months.
Malaysian Biotechnology Corp chief executive officer Datuk Dr Mohd Nazlee Kamal said it was in the final stage of discussions with the two biggest oil palm companies Felda and Sime Darby to supply the biomass.
“This is a strategy for us to facilitate the supply of biomass as raw materials for the biotechnology industry. The SPV will also provide a better platform for biotechnology players to negotiate with the oil palm planters, in terms of pricing,” he said.
Nazlee said the business models with Felda and Sime Darby would pave the way for other planters to participate in the project.
“They could also forge a joint venture that will provide a win-win situation for the planters and the bio-technology players,” he told reporters after the opening of BioMalaysia 2011 and the 2011 Pacific Rim Summit on Industrial and Bio-Energy by Prime Minister Datuk Seri Najib Razak yesterday.
Mybiomass will enter into collaborative and smart partnership agreements to support the development of downstream technology for the production of high-value chemicals and by-products for energy generation.
Other initial partner of Mybiomass include Malaysian Industry-Government Group for High Technology.
MyBiomass is part of the bio-economy roadmap for Malaysia by early next year, which would complement the National Biotechnology Policy (NBP).
The Science, Technology and Innovation Ministry together with Biotech Corp and its other agencies would be responsible for the roll-out of the roadmap.
NBP was established about six years ago and is in the second phase of development of Malaysia’s biotechnology industry.
In his opening speech, Najib said biomass had the capacity to create a new strategic bio-economy industry for Malaysia and had the potential to deliver about RM30bil in new income by 2020.
“As the world’s largest exporter of palm oil, Malaysia palm oil waste alone holds tremendous opportunity and potential for the creation of high-value industrial applications ranging from biofuels to bioplastics.
“Clearly, biomass, or rather the process of creating value from it, has the capacity to create a new strategic bio-economy industry for Malaysia,” he said.
Najib also launched the new National biomass strategy themed Biomass to Wealth.
