MYBiomass Sdn. Bhd. (“MYBiomass”) is a special purpose vehicle of the Malaysian Biomass Initiative (MBI) endorsed by the Malaysian Prime Minister during the Inaugural Meeting of Global Science and Innovation Advisory Council (GSIAC) on 17 May 2011, in New York, United States. Initiated by Malaysian Industry-Government Group for High Technology (MIGHT), MYBiomass is a joint-venture company, together with Felda Global Ventures and Sime Darby, established to pioneer high-value green chemicals 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 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.
To pioneer in setting up High Value Green Chemicals Biorefinery through coordinated aggregation.
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.