NanoMalaysia Introduces Biomass Innovation Circular Economy Initiative

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by KnowESG
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NanoMalaysia Bhd (NMB), the agency for commercialising nanotechnology and advanced solutions, has introduced the Biomass Innovation Circular Economy Programme (BICEP) as part of its environmental, social, and governance (ESG) aspirations.

NMB said in a statement released on Monday (Dec. 5) that the BICEP programme is well positioned to unlock the value and green potential of biomass waste materials in Malaysia from agricultural sources for the production of valuable advanced materials such as graphene, nanocellulose, and nanosilica in multiple collaborations with players in the country to meet the localisation of supply chain demand expressed by the industry.

This endeavour is consistent with the National Science, Technology, and Innovation Policy and is funded by the Strategic Research Fund of the Ministry of Science, Technology, and Innovation in fields that have been determined to have a significant impact on the country.

Dr Rezal Khairi Ahmad, chief executive officer of NMB, stated that, in addition to coinciding with the 12th Malaysia Plan's renewed focus on utilising biomass' economic prospects, BICEP was designed to be a game changer for the country.

"BICEP uses locally available biomass to produce high-value nanoscale advanced materials with applications in healthcare, cosmeceuticals, construction, electronics, and even energy storage."

"Hydrogen, which is all the rage right now, can be a by-product of our proprietary process," he said. "This will help our other work to get the U.S. involved in the fast-growing global hydrogen economy."

According to NMB, the biomass industry has a lot of potential in the region. The Asia-Pacific biomass power market is expected to grow at a compound annual growth rate of 6.35% in terms of revenue and 6.22% in terms of volume from 2022 to 2030, with a revenue share of US$51.78 billion (RM226.07 billion) by 2030.

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Source: The Edge Markets