Euglena Malaysia Sdn Bhd

Euglena Co., Ltd.(hereafter "Euglena") signs with Petronas Research Sdn. Bhd. a subsidiary of Petroliam Nasional Berhad (hereafter "Petronas Research") that have entered into a Joint Development Agreement on August 21st , 2024 to implement a joint research with a mission to materialize the future large-scale commercial production of microalgae oil for SAF and other biofuels. Euglena and Petronas Research will form partnership to develop microalgae technology which includes cultivation, harvesting, extraction and by-product usage in enabling the delivery of techno-economical solution for large-scale commercial production of microalgae oil for biofuels. With the aim of supplying microalgae oil as feedstock to the biofuel production project by the three companies including Enilive S.p.A. in Italy, of which final investment decision was announced on July 26, 2024. *​ * Press release dated July 26, 2024: "Euglena, PETRONAS, and Enilive complete final investment decision for biofuel production plant construction and operation project in Malaysia" https://www.euglena.jp/news/20240726-2/ 　 Upon success of technology development, Euglena and Petronas Research will potentially further collaborate to scale up the microalgae cultivation technology targeting to start a large-scale commercial production and valorization of defatted algae by-products in the early 2030s.　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　 This collaborative effort will make one-step closer for PETRONAS to meet its target of MFT 50.30.0 by 2050 and becoming a progressive energy company and solutions partner while enriching lives for a sustainable future. As for Euglena, will solidify its position as the leading biotechnology company and “sustainable first” solutions provider. Euglena and Petronas Research are determined to contribute to resolve the global climate issues through this joint research and development activity. About Euglena Co., Ltd. In 2005, they succeeded in establishing the world's first outdoor mass cultivation technology for edible microalgae Euglena (Japanese name: Midorimushi). They define Euglena philosophy as "Sustainability First" and are engaged in businesses such as the development and sale of food and cosmetics using microalgae such as Euglena and Chlorella, the production and development of biofuels, the provision of genetic analysis services, and the sustainable agritech field that utilizes unused resources. Since 2014, they have been continuously implementing the "Euglena GENKI Program" to deliver nutritious Euglena cookies to children in Bangladesh. https://euglena.jp