TMD Energy to expand into oil waste collection, enhancing ESG commitments.

• TMDEL expands into oil waste collection for ESG commitments • Collects sludge oil and used cooking oil for biodiesel processing • Diversifies revenue streams and meets growing demand for sustainable waste disposal • Leverages logistics network and industry expertise to support expansion • Supports environmental sustainability through waste-to-energy conversion

TMD Energy Limited (NYSE: TMDE), a Malaysia and Singapore-based integrated bunkering services provider, has announced a strategic expansion into oil waste collection. This initiative focuses on collecting sludge oil and used cooking oil, which will be sold to third-party partners for biodiesel production. The move comes following the company's recent Initial Public Offering (IPO) and aims to capitalize on Malaysia's growing biodiesel market, supported by government incentives [1].

The expansion aligns with TMD Energy's Environmental, Social, and Governance (ESG) commitments and Malaysia's renewable energy goals. According to Chairman and CEO Dato' Sri Kam Choy Ho, the company plans to eventually engage in biodiesel processing and distribution, positioning itself as a key player in Southeast Asia's green energy transition. This circular economy approach not only mitigates greenhouse gas emissions but also supports Malaysia’s national commitment to renewable energy adoption.

The biodiesel market in Malaysia presents substantial growth opportunities, and TMDE's entry into this sector aligns with evolving regulatory frameworks and the corporate demand for eco-conscious partnerships. The company will leverage its extensive logistics network and industry expertise to meet the increasing demand for sustainable waste disposal. This initiative aims to collect residual oils from maritime operators and the food industry, facilitating their conversion into cleaner biodiesel.

TMD Energy's established infrastructure ensures efficient collection, and the company targets to engage in processing and distribution of biodiesel in the near future. This strategic shift toward long-term environmental stewardship signifies a significant enhancement of the company's ESG commitments. By collaborating with businesses, agencies, and environmental organizations, TMD Energy aims to redefine waste as a valuable resource, transforming sustainability commitments into actionable and scalable solutions.

The company's forward-looking statements highlight the potential risks and uncertainties associated with this expansion. However, the strategic move underscores TMD Energy's vision to lead the bio-green industry while upholding its commitment to exceptional service standards. Every step forward is a step toward a future where economic growth and environmental responsibility coexist.

References:
[1] https://www.stocktitan.net/news/TMDE/tmd-energy-limited-announces-strategic-expansion-into-oil-waste-i7183th2v9zs.html