HOUSTON, Jan. 20, 2026 /PRNewswire/ -- HYCO1 today announced the execution of a Joint Collaboration Agreement (JCA) with Petroleum Sarawak Berhad (PETROS) and PJ Energy Services (M) Sdn Bhd (PJES), marking a significant step toward advancing commercially viable carbon utilization and low-carbon industrial development in Sarawak, Malaysia.

Under the agreement, HYCO1, PETROS and PJES will collaborate to identify and evaluate opportunities to convert CO₂ emissions into high-value industrial products. The collaboration will assess the application of HYCO1's patented CO₂ utilization technology, which combines captured CO₂ with natural gas to produce chemical-grade synthesis gas (syngas) for downstream industrial use.

HYCO1's technology enables the production of low-carbon syngas while reducing natural gas consumption by up to 50% for equivalent output volumes. This approach extends natural gas reserves, lowers production costs, and supports the transition toward low- or near-zero-emissions industrial processes.

The collaboration is intended to align with the Sarawak Gas Roadmap and PETROS' ongoing carbon capture, utilization, and storage (CCUS) initiatives. A key focus will be the development of localized, low-carbon production hubs that support Sarawak's decarbonization objectives while enhancing the region's competitiveness for sustainable industrial investment and low-cost manufacturing. PJES will contribute regional operational expertise and energy services capabilities to support the evaluation and development of these opportunities.

"This agreement represents an important opportunity to deploy our technology in a region that is taking a proactive and strategic approach to low-carbon industrial growth," said Gregory Carr, Chief Executive Officer of HYCO1. "By working collaboratively with PETROS and PJES, we will evaluate practical opportunity pathways to convert CO₂ emissions into a low-cost industrial feedstock while supporting Sarawak's long-term energy security and sustainability goals."

As part of the JCA, HYCO1, PETROS and PJES will jointly screen and assess multiple investment opportunities through technical and commercial studies focused on the production of low-cost, low-carbon chemicals and fuels within Sarawak. These evaluations are intended to identify projects capable of delivering strong environmental performance alongside compelling economic returns.

Datuk Joseph Podtung, Senior Vice President for Growth at PETROS, said, "This collaboration reflects our commitment to exploring innovative solutions that advance Sarawak's low-carbon ambitions. By working with HYCO1 and PJES, we will assess new approaches to CO₂ utilization that complement our CCUS initiatives and support sustainable industrial development across the state."

Jamel Salleh, Managing Director for PJ Energy Services added, "We're excited to be part of this strategic initiative, bringing our engineering and energy services capabilities to support the development of innovative CO₂ utilization projects in Sarawak and beyond."

The Joint Collaboration Agreement underscores HYCO1's commitment to partnering with forward-looking organizations to accelerate the deployment of scalable, commercially viable low-carbon technologies in key global industrial markets.

About PETROS
Petroleum Sarawak Berhad (PETROS) is the state-owned oil and gas company of Sarawak, Malaysia, established to manage and maximize the value of the state's oil and gas resources. PETROS plays a central role in shaping Sarawak's energy future, including gas infrastructure development, downstream industrial growth, and low-carbon initiatives. The company anchors the Sarawak Gas Roadmap and advances carbon capture, utilization, and storage (CCUS) projects to enable sustainable, long-term economic development for the state.
Website: www.petroleumsarawak.com

About PJ Energy Services
PJ Energy Services (M) Sdn Bhd (PJES) is a Sarawak-based energy services company providing engineering, maintenance, fabrication, and project support solutions to the oil, gas, and energy industries. With a strong local presence and deep operational experience in Sarawak, PJES supports upstream and downstream energy projects across the asset lifecycle. The company plays an active role in enabling safe, efficient, and sustainable energy development through technical expertise and regional execution capabilities.
Website: www.pj-energy.com.my

About HYCO1
HYCO1 is a CO₂ utilization technology company delivering breakthrough catalyst and process solutions that convert CO₂ emissions into sustainable, high-value chemical and fuel products without reliance on subsidies or carbon credits. HYCO1's reformer technologies are engineered to convert up to 100% of CO₂ feedstock into low-carbon blue or green syngas, with optional production of purified hydrogen and carbon monoxide, at costs below conventional gray processes.

HYCO1's proprietary CUBE^™ Technology enables near-complete CO₂ conversion in a single reactor pass, producing low-cost, low-carbon-intensity, chemical-grade syngas (H₂ and CO) at commercial scale—an industry-first achievement. HYCO1 empowers industrial emitters to transform CO₂ from a regulatory liability into a profitable, circular economic resource.
Website: www.hyco1.com

Media ContactTim LozanoDirector of Marketing, HYCO1, Inc.

[email protected]

Commercial ContactCurtis CarmackSVP of Strategic Development, HYCO1, Inc.

ccarmack@hyco1.com

SOURCE HYCO1