Industry players discuss green economy at IGEM forum

Industry players discuss green economy at IGEM forum

28 Jul 2021

Policymakers and industry players have come together at the International Hydrogen Economy Forum and Strategic Lab to identify hydrogen technology initiatives to drive a low carbon economy which in turn creates potential new investment in the green economy.

Launched yesterday by Environment and Water Minister Datuk Seri Tuan Ibrahim Tuan Man, the virtual forum was in conjunction with the 12th International Greentech and Eco Products and Conference Malaysia (IGEM 2021).

The strategic workshop, with the theme “Visioning a Hydrogen Economy for Malaysia”, is organised by the Malaysian Green Technology and Climate Centre (MGTC); Science, Technology and Innovation Ministry (Mosti) and NanoMalaysia Bhd.

“This strategic workshop gathers policymakers, industry players, technologists and academics to get an overview of the economic ecosystem hydrogen and its development locally and internationally,” Tuan Ibrahim said during his welcoming address.

The event also saw the virtual signing ceremony of the memorandum of understanding between MGTC, UMW Innovation and R&D Center Sdn Bhd, and Mitsui & Co Ltd.

This was followed by two memorandum of corporations between MGTC, Sarawak Economic Development Cooperation (SEDC) and Vizione Energy Sdn Bhd.

Tuan Ibrahim said the exchange of the memorandum between these companies is a cornerstone toward expediting the hydrogen economy agenda which is a sustainable growth in Malaysia powered by low carbon hydrogen economy and technology.

The minister also highlighted that the plan to implement a hydrogen economy in the local context is crucial to propel the country’s economic growth and the targets in Sustainable Development Goals.

More programmes in the area relevant to the hydrogen economy will be initiated under this strategic collaboration, revolving around three key areas, namely mobility, home and commercial energy and power generation.

MGTC CEO Shamsul Bahar Mohd Nor said in ensuring the growth and sustainability of Malaysia, it is crucial to lay a foundation and bridging the collaboration among multinational companies, experts, Malaysian public listed companies and government agencies.

Additionally, UMW Holding Bhd president and group CEO Datuk Ahmad Fuad Kenali said hydrogen is a potential energy because it can be transformed into renewable non-polluting energy resources with low environmental impact and zero-emission.

“As the world continues to face the energy crisis, hydrogen energy can be viewed as a substitute to accelerate sustainable consumption, green production and innovation and sustainable energy.

“From the automotive industry perspective, the advancement should be able to produce a supply chain that can supply green hydrogen, with reasonable market price,” Ahmad Fuad said.

Mitsui & Co (M) Sdn Bhd MD Dalji Kojima said the collaboration is a pathway to expand the company’s footing and innovation on Asean market.

“This is through investing toward Malaysia’s green economy and ecosystem, mobility area development, and leverage on each other’s expertise,” he said.

Globally, the hydrogen economy offers investment opportunities amounting to US$475 billion (RM2.01 trillion), with an annual revenue potential of US$280 billion.

“Malaysia will be able to develop a new economic sector. This collaboration will be a stepping stone to encourage closer cooperation in the future for empowering the hydrogen economy in Malaysia,” Tuan Ibrahim added.

Source: The Malaysian Reserve