The New ASEAN Energy (NAE) and ACTUAL have forged an alliance, utilizing ACTUAL's AI-powered capital planning technology to devise a holistic net-zero emissions plan for The Pengerang Energy Complex (PEC). PEC aims to become one of the globe's largest and most competitive facilities for integrated condensate splitting and aromatics production. With over $102 billion USD worth of off-take agreements inked with esteemed energy entities such as Equinor, Chevron, PTT, and Mitsui, PEC is poised to boast superior margins and significantly reduce its environmental impact compared to similar facilities.
The products generated by PEC hold strategic significance for various sectors such as textiles, bottling, construction, and pharmaceuticals. Positioned to establish new industry standards, PEC is on track to achieve the lowest carbon footprint per ton of Paraxylene (PX) globally, setting a benchmark for excellence across multiple materials. The collaboration between NAE and ACTUAL prioritizes the development of a scientifically and technologically robust transition strategy utilizing ACTUAL's AI-driven capital planning technology. This strategy aims to enhance PEC's environmental sustainability efforts, pushing it closer towards becoming one of the pioneering net-zero facilities worldwide.
Achieving decarbonization in intricate plants like PEC demands a comprehensive strategy. ACTUAL and NAE intend to systematically explore various avenues, including establishing renewable energy plants to power facility operations, producing blue and green hydrogen, utilizing eco-friendly feedstocks for sustainable aviation fuel (SAF), implementing carbon capture technologies like mineralization or algae usage, and adopting alternative sources of industrial heat such as geothermal energy, among other initiatives.
“ACTUAL’s technology was designed for exactly this kind of important effort decarbonizing industries critical to our economy and resilience”, said Karthik Balakrishnan, Co-founder of ACTUAL. “We are excited to collaborate with NAE to build scientifically valid capital plans that could set PEC on the path towards net zero”.
“With our focus on investing in and operating high-margin, low-carbon facilities in Southeast Asia, engaging with new and innovative ways to improve our sustainability posture is critical”, said William I.Y. Byun, CEO of NAE. “This collaboration is exciting because of the potential to show a clear, articulate pathway towards net zero for one of the premier new facilities in the region”.