Handal Energy Berhad (“Handal” or “Group”), formerly known as Handal Resources Berhad, is pleased to announce that its wholly owned subsidiary, Handal Energy Solutions Sdn Bhd has signed a memorandum of agreement (“MOA”) to develop a hydrogen powered electric racecar in Malaysia.
The MOA was signed by:
1. YAM Tengku Baderul Zaman Ibni Sultan Mahmud, Chairman of Handal Energy Berhad
2. Mr Hafiz Zolkipli, Chief Operating Officer of NanoMalaysia Berhad
3. Mr Izmir Yamin, Chief Executive Officer of Pulsar UAV Sdn Bhd
4. Mr Syed Faisal Algadrie, Managing Director/Chief Executive Officer of MNA Energy Sdn Bhd
5. Mr Jagjeet Singh, Director of Wheelspin Motorsports
Handal is the system integrator and responsible for the chassis engineering and machining works for the project’s prototype car called Hydrogen-Paired Electric Racecar (“HyPER”) which is the brainchild of NanoMalaysia’s CEO, Dr Rezal Khairi Ahmad.
HyPER will be powered by NanoMalaysia’s Hydrogen and Hybrid Energy Storage System (H2SS) which pairs on-board hydrogen generation technology with graphene-based ultracapacitor and is being co-developed with Pulsar and MNA Energy. Wheelspin Motorsports’ contribution is the racecar platform and envisions the creation of a racing series composed of green vehicles like HyPER.
Similar to the New National Car Project (NNCP), HyPER’s key value to the Nation is the human capital development using the latest technologies related not only to the automotive sector but also to Renewable Energy. This is accomplished through the hands-on involvement of students and professionals in this project. By mastering future green technologies, Malaysia’s younger generation will thrive within a sustainable Hydrogen economy, in line with the recently announced Shared Prosperity Vision (SPV2030).
Statement by Handal Energy Berhad Independent Non-Executive Chairman YAM Tengku Baderul Zaman Ibni Sultan Mahmud
“We are thrilled with the opportunity to venture into the renewable energy segment as this is part of the Group’s strategic goals to build a sustainable business according to the environmental, social and governance criteria.
The electric vehicle market is valued at over US$560,000 million by 2025. Handal intends to play a part in this industry as technologies and infrastructure advances. The technologies developed for HyPER will be able to solve certain issues relating to the electric vehicle industry. With that said, we have completed our R&D processes and is currently in plans to build the first prototype.”