South Korean consumer electronics giant Samsung is set to enter the green energy market – specifically the Sustainable Aviation Fuel (SAF) sector.
The company has announced it will be establishing a biorefinery, in Malaysia, which will be capable of producing SAF and hydrogenated vegetable oil (HVO) for the aviation sector which is looking to transition to greener fuel in order to lower its emissions.
The planned refinery will be operated with energy giant Petronas and will process around 650,000 tonnes of raw materials each year, which will produce SAF and HVO.
Hong Namkoong, President and CEO of Samsung E&A said: “Since we are carrying out the project in Malaysia, a major Asian market for us, we expect stable performance with our accumulated experience and technology. By successfully carrying out the company’s first SAF project, we will expand our position in the carbon-neutral, eco-friendly field in the future.”
