HYCO1 has signed a memorandum of understanding (MOU) with Malaysia LNG for a pioneering carbon capture and utilisation (CCU) project in Bintulu, Sarawak, Malaysia.
This collaboration aims to convert one million tonnes per annum (mtpa) of CO₂ into industrial-grade syngas, leveraging HYCO1’s innovative CUBE Technology.
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HYCO1 and Malaysia LNG, a subsidiary of Petronas, have formalised their partnership to explore the potential of a CCU project, which could set new sustainability benchmarks in the industry.
The project, expected to be one of the largest of its kind, will utilise CO₂ as a primary feedstock to produce syngas, a mixture of hydrogen and carbon monoxide. This process not only aims to reduce emissions but also to create valuable chemical and fuel products.
Under the terms of the MOU, the two companies will conduct a joint feasibility study to determine the most efficient design alternatives for producing low-cost, low-carbon syngas.
The study will assess demand from various potential downstream users and seek to optimise the production process.
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By GlobalDataHYCO1 CEO Gregory Carr said: “This is very exciting for all stakeholders, including HYCO1, MLNG and PETRONAS, and will benefit all Malaysians.
“We approached PETRONAS and MLNG in the hopes of helping them solve their decarbonisation needs, and we feel honoured to collaborate with MLNG to meet their Net Zero Carbon Emissions (NZCE) by 2050.
“Our revolutionary process and catalyst are game changers in decarbonisation because not only do we prevent CO₂ from being emitted into the atmosphere, but we transform it into highly valuable and usable downstream products.”
HYCO1’s CUBE Technology is at the heart of the initiative, offering a cost-effective solution to produce syngas with a lower carbon intensity compared with traditional methods.
The technology promises to disrupt the industry by generating “blue” syngas at a lower price point than the current “gray” syngas, which is derived from natural gas, the company said.
The agreement also outlines MLNG’s commitment to supply an initial one million tonnes of raw CO₂ to HYCO1 for a 20-year period, starting no later than 2030.
The construction of the CCU plant is due to be completed by 2029.
This MOU signifies the commencement of a project that HYCO1 and MLNG believe will become a historical CO₂ utilisation endeavour.
Unlike conventional strategies that focus solely on CO₂ capture and sequestration, this project fully utilises captured CO₂ to profitably generate valuable products.
