World News | UAE: Emarat, Lootah Biofuels Sign MoU to Enhance Cooperation in Renewable Energy

Dubai [UAE], December 24 (ANI/WAM): The Emarat Petroleum Company (Emarat) and Lootah Biofuels have signed a Memorandum of Understanding (MoU) to enhance cooperation in line with the UAE plans to develop renewable energy sources and enhance sustainability.

The MoU aims to establish a framework for cooperation between the two parties to achieve a set of common goals that contribute to reducing greenhouse gas emissions and other pollutants associated with traditional fossil fuels, contributing to improved air quality and environmental sustainability in line with the directives of Ministry of Energy and Infrastructure (MoEI) and efforts to promote clean and sustainable energy, achieving the goals of the National Biofuels Policy and the UAE Net Zero 2050 strategy.

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The MoU, signed by Ali Khalifa Al Shamsi, Chief Executive Office of Emarat Petroleum Company - Emarat, and Yousif Saeed Lootah, Founder and CEO of Lootah Biofuels, in the presence of a number of senior officials from both sides, focuses on strengthening cooperation in order to expand the collection network of used cooking oils through the retail stations network of Emarat, including biodiesel in their offering, exploring manufacturing of sustainable aviation fuel (SAF), and providing biodiesel to vessels in certain ports.

According to the memorandum of understanding, the two parties will study and develop a mechanism for collecting used cooking oils through the retail stations network of Emarat for Lootah biofuels, which contributes to expanding the network of partners to provide it with used cooking oils for recycling and biofuel production as an innovative and practical solution that contributes to reducing the burden on the environment.

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The parties will develop a mechanism that identifies the collection equipment, process, customer relationship, financial reconciliation and any other items required to solidify the process.

Emarat will also be looking actively to include biodiesel produced by Lootah Biofuels in their offering in the retail stations in line with the guidelines of Ministry of Energy and Infrastructure (MoEI). It is expected to start offering biodiesel B5 and improve according to the timelines in MoEI's guidelines.

In line with the UAE's efforts to support sustainable transport and provide more sustainable fuel for the aviation sector, the two parties will cooperate to develop feasibility studies and investment mechanisms to build a plant to manufacture sustainable aviation fuel (SAF) to serve the aviation sector in the UAE and the region. Additionally, both parties will look in potential collaboration on selling biodiesel to vessels in certain ports, which will contribute to supporting the sustainable maritime transport sector and strengthening the UAE's position as a global maritime and logistics hub.

Mr. Ali Khalifa Al Shamsi, Chief Executive Office of Emarat Petroleum Company (Emarat), said, "At Emarat, we are committed to providing innovative and sustainable energy solutions that keep pace with the UAE's vision on clean and sustainable environment. This cooperation with Lootah Biofuels is an important step towards achieving our goals of adopting biofuels within our network of stations",

Yousif Saeed Lootah, Founder and CEO of Lootah Biofuels, said, "We are proud of our partnership with Emarat, a leader in the energy sector, as this cooperation represents an effective model of partnership between the government and private sectors to support national initiatives related to sustainable energy. We look forward to achieving tangible achievements through this cooperation, both in the collection of used cooking oils and the development of biofuels and sustainable aviation, in line with the country's efforts to promote sustainability",

Emarat and Lootah Biofuels reaffirmed their commitment to enhance collaboration on all ongoing and future projects related to biodiesel as a renewable energy source to support the UAE's continued drive towards economic diversification and sustainable development by increasing usage of biofuels.

The signing of this MoU is a significant step within the framework of the parties' commitment to keep pace with the global transformation towards clean energy and support the sustainability goals in the UAE. (ANI/WAM)

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