CEO Morning Brief

Prolexus Signs MOU With Sirim to Explore R&D for Waste Materials From Textile Production

Publish date: Tue, 13 Sep 2022, 08:51 AM
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TheEdge CEO Morning Brief
Prolexus signs MOU with Sirim to explore R&D for waste materials from textile production

KUALA LUMPUR (Sept 12): Prolexus Bhd has entered into a memorandum of understanding (MOU) with Standards and Industrial Research Institute of Malaysia (Sirim) to grow the company's sustainable initiatives, including exploring research and development (R&D) for waste materials from textile production.

The apparel manufacturer for international sportswear and fashion brands said the objective of the MOU is also for the company to explore the application of alternative energy using hybrid solar photovoltaic (PV), according to its bourse filing on Monday (Sept 12).

Prolexus said the MOU commenced on Monday will remain in force for two years or until the objectives are completed.

"The handling and processing of wastewater and the global carbonisation resulting from the textile industry activities have become targeted areas to improve the industry's sustainability," it said.

"The company aims to cooperate with Sirim to research, develop and commercialise initiatives and technologies which [could] bring breakthroughs in the company's existing handling and processing of waste materials from the production of textiles and apparel."

Prolexus also said it intends to explore the application of a hybrid solar PV system, a grid connected solar PV system with a backup battery storage system, for its factories and offices.

"The company intends to tap [into] Sirim's knowledge and expertise in the design and installation of a hybrid solar PV system due to the complexity of the system which involves a battery storage system," it said.

"In addition, the hybrid solar PV system is expected to allow the company to enjoy various government green tax incentives such as Green Investment Tax Allowance and Green Income Tax Exemption."

On Monday, Prolexus' share price closed 1.5 sen or 3.75% higher at 41.5 sen, bringing it a market capitalisation of RM114.84 million.

Source: TheEdge - 13 Sep 2022

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