City Oil Field expands to Malaysia's renewable energy market

Ham Dong-hyun, the COO of the City Oil Field., fourth from right, and officials from Malaysia pose after a business meeting in Kuala Lumpur, Malaysia, Nov. 1. Courtesy of City Oil Field

City Oil Field, a Korean company that develops and commercializes technologies for converting waste plastic into high-quality oil, is stepping up its foray into the renewable energy market in Malaysia.

Aligning with Korea's Environmental, Social, and Governance (ESG) policies, the company exported its unique regenerated green oil (RGO) system, which produces high-quality naphtha and oil by processing waste.

The move marks City Oil Field's second foray into Southeast Asia, following its expansion into Vietnam in August.

During a workshop held at the Mandarin Oriental Hotel in Kuala Lumpur, Malaysia, City Oil Field held meetings with officials from the Malaysian government, regulatory agencies, and investment firms to collaborate in the waste management and renewable energy markets.

Similar to many countries worldwide, Malaysia currently handles waste through methods such as incineration and landfills, which are not in line with global standards due to their carbon emissions and environmental degradation. The Malaysian government acknowledges the need for more sustainable waste management solutions.

During the workshop, the company introduced its proprietary RGO system, a technology not found elsewhere in Malaysia. The system garnered positive responses from Malaysian government officials and business leaders at the event.

"This is the new eco-friendly ESG model and innovative technology we have been seeking,” said a high-ranking Malaysian official.

The RGO system, developed independently by the company, uses wave energy to convert waste plastics into renewable fuel. It has received certification from the Ministry of Trade, Industry, and Energy as a New Excellent Technology (NET).

Unlike traditional thermal decomposition methods, the RGO system allows the pollution-free extraction of high-quality oil.

"The RGO system revolutionizes waste processing compared to the conventional incineration methods, enabling us to secure renewable energy, while also obtaining carbon emission credits,” said Jung Young-hoon, the CEO of the City Oil Field.

Jung also expressed his enthusiasm for Malaysia's proactive approach as a hub and an oil-producing nation in Southeast Asia.