The Egyptian Ministry of Environment has signed two memoranda of understanding (MoUs) to support energy transition and emissions reduction in Egypt, both of which were signed in the presence of Prime Minister Mostafa Madbouly.
The first MoU was signed by the Minister of Environment, Yasmine Fouad, Fayoum governorate and Energy 3 to build a station to recycle the garbage into biodiesel and graphene at Kom Oshim. The project will be one of the sustainable solutions for solid waste in Egypt.
John Ponchock, the CEO and Chairman of the Board of Directors of Energy 3, said that the company’s BioRefinery E3i will produce diesel 2, biocoal and graphene using a close cycle system (zero emissions). It will remove 500,000 tons per year of emission produced from solid waste, Ponchock added.
The second MoU was signed between the Ministry of Environment, Income International Company for Petroleum and Industrial Services, and Okyanus Group to establish a joint project called “Okyanus Egypt” that aims to produce plastic alternatives using “Made From Stone” technology.
The project which will cost $50 million, came as part of the state’s strategy Egypt vision 2030 as it will help reduce carbon dioxide emissions in addition to reducing Egypt’s imports of plastics.
