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ESSA cooperates with Japanese companies and ITB to develop blue ammonia

22 March 2021 09:06

JAKARTA. PT Surya Esa Perkasa Tbk (ESSA), an energy and chemical company, has collaborated with Japan Oil Gas and Metals National Corporation (Jogmec), Mitsubishi Corporation, and the Bandung Institute of Technology (ITB), to develop blue ammonia products that are claimed to be environmentally friendly.

Vinod Laroya, President Director & Chief Executive Officer (CEO) of ESSA, said that the cooperation began with the signing of an MoU (Memorandum of Understanding) on ​​carbon collection, utilization and storage projects. This project will later support the development of low-carbon ammonia.

"This confirms our commitment to creating a sustainable future while expanding the reach of the current ammonia market," said Laroya in a press release received by idnfinancials.com.

The development of low-carbon ammonia will be carried out by ESSA through its subsidiary, PT Panca Amara Utama (PAU). On the same occasion, Laroya explained that he currently has facilities in Central Sulawesi whose technology supports low-carbon ammonia production.

ESSA is quite optimistic that the development of low-carbon ammonia can support market expansion and the company's business growth in the future. As previously reported by idnfinancials.com, the company's revenue fell 21% to US$ 175.5 million in 2020. This decline caused the company to experience a loss of US$ 33.56 million in 2020. (KR/LM)

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