HYCO1 has announced the execution of a joint collaboration agreement (JCA) with Petroleum Sarawak Berhad (PETROS) and PJ Energy Services (M) Sdn Bhd (PJES), marking a significant step toward advancing commercially viable carbon utilization and low-carbon industrial development in Sarawak, Malaysia.

Under the agreement, HYCO1, PETROS and PJES will collaborate to identify and evaluate opportunities to convert CO₂ emissions into high-value industrial products. The collaboration will assess the application of HYCO1's patented CO₂ utilization technology, which combines captured CO₂ with natural gas to produce chemical-grade synthesis gas (syngas) for downstream industrial use.

HYCO1's technology enables the production of low-carbon syngas while reducing natural gas consumption by up to 50% for equivalent output volumes. This approach extends natural gas reserves, lowers production costs, and supports the transition toward low- or near-zero-emissions industrial processes.

The collaboration is intended to align with the Sarawak Gas Roadmap and PETROS' ongoing carbon capture, utilization and storage (CCUS) initiatives. A key focus will be the development of localized, low-carbon production hubs that support Sarawak's decarbonization objectives while enhancing the region's competitiveness for sustainable industrial investment and low-cost manufacturing. PJES will contribute regional operational expertise and energy services capabilities to support the evaluation and development of these opportunities.

"This agreement represents an important opportunity to deploy our technology in a region that is taking a proactive and strategic approach to low-carbon industrial growth," said Gregory Carr, Chief Executive Officer of HYCO1. "By working collaboratively with PETROS and PJES, we will evaluate practical opportunity pathways to convert CO₂ emissions into a low-cost industrial feedstock while supporting Sarawak's long-term energy security and sustainability goals."

As part of the JCA, HYCO1, PETROS and PJES will jointly screen and assess multiple investment opportunities through technical and commercial studies focused on the production of low-cost, low-carbon chemicals and fuels within Sarawak. These evaluations are intended to identify projects capable of delivering strong environmental performance alongside compelling economic returns.

Datuk Joseph Podtung, Senior Vice President for Growth at PETROS, said, "This collaboration reflects our commitment to exploring innovative solutions that advance Sarawak's low-carbon ambitions. By working with HYCO1 and PJES, we will assess new approaches to CO₂ utilization that complement our CCUS initiatives and support sustainable industrial development across the state."

Jamel Salleh, Managing Director for PJ Energy Services added, "We're excited to be part of this strategic initiative, bringing our engineering and energy services capabilities to support the development of innovative CO₂ utilization projects in Sarawak and beyond."

The Joint Collaboration Agreement underscores HYCO1's commitment to partnering with forward-looking organizations to accelerate the deployment of scalable, commercially viable low-carbon technologies in key global industrial markets.