BIOENERGY-based Elridge Energy Holdings Bhd has inked a memorandum of understanding (MOU) with Green Stream LLC, a Saudi Arabia-based company as part of the group’s efforts to explore new international markets for its biomass and renewable energy solutions.
The MOU marks an initial step for both parties to assess potential collaboration opportunities in the Saudi Arabia, including technical testing and commercial assessments for biomass and waste-to-energy applications.
The evaluation will focus on identifying renewable energy solutions that support energy diversification and sustainability objectives while remaining commercially viable within the Saudi market.
The engagement reflects Elridge Energy’s broader market development efforts in the Middle East, including its recent participation in the two-day IFAT Saudi Arabia (Jan 26-28) in Riyadh.
At the Kingdom’s dedicated event for waste, water and environmental technologies, the group had engaged with regional stakeholders to better understand regulatory frameworks, project requirements and demand dynamics for environmental and renewable energy solutions.
“This MOU represents an early step in assessing opportunities beyond our existing markets,” commented Elridge Energy’s CEO Oliver Yeo.
“Saudi Arabia and the broader Middle East present an emerging landscape for renewable energy development, hence this collaboration allows us to better understand market requirements and execution considerations on the ground.”
Added Yeo: “Working with a local partner enables us to evaluate potential opportunities in a measured and disciplined manner before determining the appropriate next steps.”
As part of the engagement, the parties will explore possible project development approaches and implementation models with further discussions to be undertaken as evaluations progress.
The collaboration is expected to include site visits to Elridge Energy’s facilities in Malaysia as well as technical and operational engagements between both parties’ management and technical teams.
At the close of today’s market trading, Elridge Energy was up 5 sen or 5% to RM1.05 with 10.39 million shares traded, thus valuing the company at RM2.1 bil. – Jan 29, 2026
