Boustead, Next Generation to develop algae plantation

BOUSTEAD Holdings Bhd and Next Generation Oil Sdn Bhd (Next Gen) are jointly developing a new economic ecosystem with the use of renewable algae biofuel technology. 

Boustead group MD Datuk Seri Mohammed Shazalli Ramly said both companies will develop the algae plantation and produce carbon-neutral crude algae oil that will help reduce greenhouse gas emitted by traditional fossil fuels.

“This includes the development of the world’s first 1,000-acre (405ha) algae plantation for the cultivation of algae, harvesting of algae biomass and the subsequent extraction of 1.8 million metric tonnes crude algae oil annually.

Excerpt taken from The Malaysian Reserve.

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