HYCO1 and Malaysia LNG Sign Landmark Deal to Transform CO₂ into Clean Syngas at Scale

In a significant step toward industrial decarbonization, HYCO1, Inc. and Malaysia LNG Sdn. Bhd. (MLNG), a PETRONAS subsidiary, have entered into a Memorandum of Understanding (MOU) to establish one of the largest carbon utilization initiatives globally.

The project, based in Bintulu, Sarawak, will utilize HYCO1’s proprietary CUBE™ Technology to transform 1 million tons per year of carbon dioxide (CO₂) into high-value industrial syngas. The MOU was officially signed by HYCO1 CEO Gregory Carr and MLNG Managing Director & CEO Mohamed Syazwan bin Abdullah @ Laga Jenggi, signaling a strategic alliance aimed at advancing innovation in Carbon Capture and Utilization (CCU).

The goal: turn CO₂ from a costly waste into a profitable resource, enabling the production of low-carbon hydrogen and carbon monoxide blends used across various chemical and fuel sectors.

Disrupting Industrial Gases with CO₂ Feedstock

HYCO1’s patented CUBE™ Technology offers a revolutionary shift in syngas production. Instead of relying on expensive natural gas, the system uses CO₂ as a primary feedstock, lowering costs and dramatically reducing carbon intensity.

This approach not only avoids emissions but repurposes CO₂ into sustainable, high-value products, positioning the venture as a key driver in Malaysia’s clean energy transition.

Under the terms of the MOU, MLNG will supply 1 million tons per annum of raw CO₂ for a 20-year period, starting no later than 2030. A feasibility study will be conducted to determine the most efficient plant design to serve a wide array of downstream industries. The project is expected to be completed by 2029.

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Setting the Standard for Net-Zero Innovation

Gregory Carr, said, “This is very exciting for all stakeholders, including HYCO1, MLNG, and PETRONAS, and will benefit all Malaysians.”

He added, “We approached PETRONAS and MLNG in the hopes of helping them solve their decarbonization needs, and we feel honored to collaborate with MLNG to meet their Net Zero Carbon Emissions (NZCE) by 2050. Our revolutionary process and catalyst are game changers in decarbonization because not only do we prevent CO2 from being emitted into the atmosphere, but we transform it into highly valuable and usable downstream products.”

The project aligns closely with PETRONAS’ Net Zero Carbon Emissions 2050 goal, and showcases Malaysia’s emergence as a global low-carbon industrial hub. Bintulu, a key oil and gas region, is now at the heart of a new wave of sustainable industrial development.