Philux Global Energy Signs Agreement to Provide Pure Geomagnetic Energy Solutions to Improve Energy Efficiency, Eliminate Greenhouse Gas Emissions and Help Meet Malaysia’s New Renewable Energy Target.

Rhea-AI Summary

Philux Global Energy (PHIL) has signed a Memorandum of Understanding with Koastal Eco Industries to distribute geomagnetic energy products in Malaysia. The technology utilizes Schumann magnetic resonance and lightning energy from the ionosphere, featuring advantages such as weather independence, compact size, and zero emissions. This initiative aligns with Malaysia's new renewable energy target of 70% in the power mix by 2050, requiring investments of MYR637bn (US$143bn). The country's energy demand is projected to grow at 2.1% annually, reaching 69 Mtoe by 2035, with the industrial sector accounting for 38% of consumption.

Positive

• Strategic partnership secured for distribution in Malaysian market
• Technology offers multiple competitive advantages including weather independence and zero emissions
• Aligns with Malaysia's significant renewable energy investment plan (US$143bn)
• Targets growing energy market with 2.1% annual demand growth

Negative

• Non-exclusive distribution agreement may limit market control
• Early-stage technology without proven commercial implementation
• Faces competition from established renewable energy sources (hydro, solar, biomass)

News Market Reaction

-50.00%

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-50.00% News Effect

On the day this news was published, PHIL declined 50.00%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

New York, Nov. 25, 2024 (GLOBE NEWSWIRE) -- PHI Group, Inc. (n/k/a Philux Global Group Inc., www.philuxglobal.com, PHIL), is pleased to announce that PHILUX GLOBAL ENERGY, INC. (“PGE”), a subsidiary of the Company, website https://philuxge.com/ and KOASTAL ECO INDUSTRIES, CO., LTD, a (“KEI”), subsidiary of KOASTAL ECO SND, BHD, a Malaysian company with headquarters in Kuching, Sarawak, Malaysia, have signed a Memorandum of Understanding to grant KEI a non-exclusive right to sell and distribute geomagnetic energy products manufactured, produced, or sold by Philux Global Energy in Malaysia.

PGE’s core technologies will include Schumann magnetic resonance, utilizing energy from lightning in the ionosphere, storage in the natural atmosphere as Energy Storage Systems (ESS), acceleration of Muon particles (subatomic particles) in the module, taking advantage of wave nodes and wave troughs in the process of transmitting energy in the form of multi-frequency impulses.

The distinctive advantages of this “Multi-Impulse Energy System” include: 1) not depending on weather conditions, 2) does not require much land and/or water surface, 3) no need for large space, easy to transport, 4) electromagnetic compatibility with living organisms and humans, no harm effects to the health of humans, livestock, pets, or vegetation, 5) no waste or greenhouse gas emissions, 6) no heat generation, 7) no noise generation, 8) easy know-how protection with quantum encryptions, 9) easy to set up virtual power plants by using proprietary modules to coordinate output synchronously, 10) easy to establish wireless power transmission systems with huge capacity without heat loss at close range, suitable setup for two-way recharging for electric cars.

Philux Global Energy plans to provide these "pure energy" solutions to support the energy transition in sectors ranging from electric vehicles to aerospace, aiming to cut dependency on traditional fuel sources while contributing to climate action goals. Our approach leverages proprietary technology to provide scalable energy options that remain unaffected by weather and environmental limitations, promising a low-impact energy source suitable for various industrial, transport and other needs.

Malaysia’s energy demand, excluding the international transport sector, is projected to grow at an average annual rate of 2.1%, reaching 69 Mtoe by 2035 under business-as-usual (BAU) assumptions. The industry sector accounts for the largest portion with a share of 38% by 2035, followed by the domestic transport sector at 28%.

By 2035, natural gas will account for the largest share of the final industry demand (33%), followed by electricity and oil, at 28% each. The final energy demand for the industrial sector is expected to nearly double over the outlook period, reaching 28 Mtoe in 2035. The energy intensity for the industrial sector, calculated as industrial demand divided by current GDP, is expected to reduce by 28% within the same time period. This reflects the sector’s shift towards a structure that is less energy intensive as well as improvements in technical energy efficiency.

The transport sector energy demand is projected to increase in the outlook period by an average annual rate of 1.5% for domestic transport and 1.8% for international transport, reaching a total of 24 Mtoe in 2035. Petroleum products are expected to remain the dominant transport energy source, but other energy resources, especially natural gas and biofuels, are expected to contribute an increasing share over the outlook period, together accounting for about 3% of the total transport final energy demand in 2035. This would be in line with existing government incentives to encourage utilization of natural gas and biofuel in light vehicles. Currently, the fuelling stations for non-petroleum products are very limited and concentrated mostly within the Klang Valley. The contribution from natural gas would likely increase dramatically if the fuelling stations were more widespread across the economy.

The final energy demand for the ‘other’ sector, which includes commercial, residential, and agriculture sub-sectors, is projected to grow at an average annual rate of 2.4%, reaching 16 Mtoe in 2035. Electricity constitutes the largest portion, with a share of about 62% (10 Mtoe) in 2035. This will be heavily driven by the need for space cooling. Generally, most urban dwellings are currently equipped with at least basic electrical home appliances such as televisions and refrigerators. Air conditioning is less common outside cities and townships as fans are deemed sufficient to cope with the humid weather. This moderate growth trend will likely continue throughout the outlook period unless there is a drastic change in climate.

The Ministry of Economy of Malaysia has announced a new renewable energy target, aiming to reach 70% of renewables in the power mix by 2050, while also announcing the end of cross-border trade barriers for renewable energy. This higher target will require a more than tenfold increase in its capacity from 2023 to 2050. In 2021, the country had set a target to reach 40% of renewable energy in the power mix by 2035.

Malaysia estimates an investment of MYR637bn (US$143bn) to carry out the objective. The amount will be spent on grid infrastructure, energy storage systems and network system operating costs. The ministry has also allocated MYR50m (US$11.2m) to install rooftop solar systems for government facilities across the country over the next 6 months.

In addition, Malaysia will lift the ban on exports of renewable energy that was implemented in October 2021, as part of efforts to develop its clean power industry and boost non-fossil power generation.

In 2021, Malaysia produced about 17% of its electricity from renewable sources (16% from hydro, 1% from solar and 1% from biomass). The country also plans to reach carbon neutrality by 2050.

Mr. Ting Teck Jin, Chairman of Koastal Eco Industries Co., Ltd., stated: “We are glad to partner with Philux Global Energy to bring better solutions to the energy needs of Malaysia, improve energy efficiency, eliminate greenhouse gas emissions, fight climate change and help meet Malaysia’s new renewable energy target.”

Henry Fahman, Chairman and Chief Executive Officer of Philux Global Group, Inc., reiterated : “We are pleased to cooperate with Koastal Eco Industries Co. and look forward to providing superior solutions to the energy needs of Malaysia. We are confident that our cooperation will create tremendous long-term benefits for both companies as well as for our shareholders, investors and all other stakeholders.”

About Philux Global Energy, Inc.

Philux Global Energy, Inc., is a Wyoming corporation and currently wholly-owned subsidiary of Philux Global Group, Inc., website https://philuxge.com/, set up to hold equity interests in energy-related acquisitions and partnerships, especially to develop and commercialize renewable energy products using geomagnetic energy technology and photon self-sustainable energy technology.

The Company has signed two separate agreements, one with SSE Group JSC to cooperate in the areas of energy efficiency and mitigation of global greenhouse gas (GHG) emissions by commercializing SSE Global Group ’s photon self-sustainable energy technology and another one with an inventor to produce generators and engines (for spaceships, airplanes, ships, cars, trains, motorcycles, etc.) using the earth’s available geomagnetic energy. The company is in the process of launching products in the U.S. markets.

About PHI Group
(n/k/a Philux Global Group, Inc.)

PHI Group (n/k/a Philux Global Group Inc., www.philuxglobal.com, PHIL) primarily focuses on developing the Asia Diamond Exchange (“ADE”) in conjunction with the proposed International Financial Center in Vietnam and the “Multi-Impulse Energy System” to provide superior solutions to improve energy efficiency, reduce greenhouse gas emissions and fight climate change. The Company also advances its Philux Global Funds SCA, SICAV-RAIF, engages in mergers and acquisitions and invests in attractive businesses and select special situations with large, growing market potential that may generate extraordinary long-term shareholder value.

Safe Harbor Act and Forward-looking Statements

This news release contains “forward-looking statements” pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected,” which are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors.

Contact:

Philux Global Group Inc., (f/k/a PHI Group, Inc.)
Email: info@philuxglobal.com
Phone: +1-714-793-9227

FAQ

What is the renewable energy target set by Malaysia that PHIL aims to support?

Malaysia aims to reach 70% renewables in its power mix by 2050, requiring a tenfold increase in capacity from 2023.

What are the key features of PHIL's geomagnetic energy technology?

The technology uses Schumann magnetic resonance and ionospheric lightning energy, offering weather independence, compact size, zero emissions, and electromagnetic compatibility with living organisms.

How much investment is Malaysia planning for renewable energy infrastructure?

Malaysia plans to invest MYR637bn (US$143bn) in grid infrastructure, energy storage systems, and network operating costs.

What is Malaysia's projected energy demand growth rate according to the PHIL announcement?

Malaysia's energy demand is projected to grow at an average annual rate of 2.1%, reaching 69 Mtoe by 2035.