Polaris Bio and Bioeconomy Corporation Sign MoU on Palm Oil Biogas Development in Malaysia
Updated: Sep 29
Polaris Bio Co., Ltd. and the Malaysian Bioeconomy Development Corporation Sdn Bhd signed a memorandum of understanding on 10 October 2025 at NICE 2025, establishing a framework for cooperation on palm oil mill effluent based biogas projects in Malaysia.
The memorandum is not legally binding and does not create an obligation on either party to proceed with any specific project. It sets out the areas in which the two parties intend to work together: identification of suitable palm oil mill sites, coordination with the relevant Malaysian authorities, and structuring of the development pipeline. The figure of RM700 million referred to in connection with the memorandum represents the investment the parties aim to mobilise across the pipeline over time. It is not a contract value and no funds have been committed under the memorandum.
Bioeconomy Corporation is the Malaysian government agency responsible for developing the country's bioeconomy.
Polaris Bio is a Korea–ASEAN waste-to-energy developer and trader of ISCC EU certified biofuel feedstock, headquartered in Seoul with operations in Kuala Lumpur. The company is developing a POME biogas upgrading project at a palm oil mill in Terengganu, prepared as a mitigation activity under Article 6.2 of the Paris Agreement.