Elridge Energy Holdings Bhd has signed a memorandum of understanding (MoU) with Saudi Arabia-based Green Stream LLC to explore opportunities in new overseas markets for its biomass and renewable energy solutions, reports Focus Malaysia.
The MoU marks an initial step for both companies to study possible cooperation in Saudi Arabia. This will include technical testing and commercial reviews for biomass and waste-to-energy projects.
The assessment will focus on identifying renewable energy options that support Saudi Arabia’s goals on energy diversification and sustainability, while also being commercially workable in the local market.
The move is part of Elridge Energy’s broader efforts to develop its presence in the Middle East. This includes the company’s recent participation in the two-day IFAT Saudi Arabia exhibition held in Riyadh from January 26 to 28.
During the event, which focuses on waste, water and environmental technologies, Elridge Energy engaged with regional stakeholders to gain a clearer understanding of regulations, project needs and market demand for environmental and renewable energy solutions.
Elridge Energy chief executive officer Oliver Yeo said the MoU is an early step in evaluating opportunities beyond the company’s current markets.
He said Saudi Arabia and the wider Middle East offer growing potential for renewable energy development, and the collaboration would help the group better understand local market needs and practical considerations.
Yeo added that working with a local partner allows the company to review opportunities carefully before deciding on further actions.
Under the agreement, both parties will look into possible project development approaches and ways to carry out projects, with more discussions planned as evaluations continue.
The collaboration is also expected to include site visits to Elridge Energy’s facilities in Malaysia, along with technical and operational discussions between management and technical teams from both sides.
At the close of trading on January 29, 2026, Elridge Energy shares rose 5 sen, or 5%, to RM1.05, with 10.39 million shares traded. The company’s market value stood at RM2.1 billion.
