Elridge Energy Holdings Berhad announced the signing of a new Memorandum of Understanding (MoU) with PT Orion APAC Indonesia ("Orion"), a major international biomass fuel supplier and trader, and one of the Group's key customers to supply Orion with 150,000 metric tons (MT) of palm kernel shells annually over a three-year period, beginning in April 2025 and
concluding in March 2028.
The contract also includes an option for automatic renewal for an additional three years, subject to renegotiated terms and conditions. This long-term agreement is expected to contribute positively to Elridge Energy's financial performance, underscoring the importance of this strategic partnership.
This agreement will see both companies promoting renewable energy and supporting global efforts to reduce carbon emissions. As the demand for cleaner energy rises, both companies are poised to play a significant role in the transition toward a more
sustainable future.