Press Release: PETRONAS Chemicals Group Berhad Enters into MOU for Biorefinery Offtake
- Wednesday, 01 August 2018
Leaf Resources Limited (ASX:LER) is pleased to announce that PETRONAS Chemicals Group Berhad (PCG) and Leaf Malaysia have entered into a non-binding Memorandum of Understanding (MOU) in relation to Leaf’s proposed biorefinery project in Malaysia.
The MOU provides for, among other things, a study of chemical markets and commercially ready bio-technologies. Subject to satisfactory findings in the study and the approval of PCG, the parties may pursue an offtake agreement for the fermentable sugars produced at the proposed Leaf facility in Segamat Johor Malaysia on terms mutually agreed by the parties and consistent with global project finance standards.
Leaf Resources Managing Director, Ken Richards, welcomed the signing of the MOU, saying it is a good indication of the growing interest in the evolving renewable chemicals Industry.