Lootah Biofuels Explores Partnership with Vietnam's SAVICO to Advance Sustainable Development

Lootah Biofuels, a leader in the circular economy that specializes in converting used cooking oils into biofuels, has initiated discussions regarding a potential partnership with SAVICO Group, one of Vietnam's largest players in the circular economy, green technology, and renewable energy sectors, according to the several media reports. These discussions were held during Lootah Biofuels’ participation in the Vietnam–UAE Business Forum, an event organized by Vietnam's Ministry of Planning and Investment and the Vietnamese Embassy in collaboration with Dubai Chambers. The forum featured notable attendees, including His Excellency Pham Minh Chinh, Prime Minister of Vietnam; His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade; and other key officials and business leaders from both countries.

During the forum, Mr. Yousif bin Saeed Lootah, Founder and CEO of Lootah Biofuels, and His Excellency Dr. Nguyen Thanh Hong, Chairman of SAVICO Group, engaged in discussions aimed at enhancing bilateral cooperation to achieve sustainable development goals in the UAE and Vietnam. Mr. Lootah expressed enthusiasm about the collaboration, noting SAVICO's strong commitment to investments in green technology and renewable energy initiatives, which include offshore wind projects, liquefied natural gas, hydrogen production, carbon certification, and sustainable aviation fuel production through partnerships with leading international energy firms. He emphasized the intention to strengthen their partnership to support sustainable energy solutions that align with the UAE’s strategic vision and energy diversification objectives in pursuit of Net Zero targets.

Furthermore, Mr. Lootah highlighted the significance of the Vietnam–UAE Business Forum in fostering economic cooperation and encouraging joint investments in key sectors, particularly in green economy initiatives, digital transformation, and innovation. He reiterated Lootah Biofuels’ commitment to tapping into the sustainability and circular economy sectors to bolster clean energy efforts and advance the biofuel industry, contributing to the UAE Climate Neutrality Strategy 2050 and the Sustainable Development Goals.

In its quest for innovative biofuel technologies and sustainable energy solutions, Lootah Biofuels has formed strategic alliances with global organizations like FatHopes Energy in Malaysia and Deasyl SA. These partnerships focus on developing and distributing sustainable aviation fuel and other advanced biofuel products.

Founded in 2015, Lootah Biofuels has established itself by producing biofuels from used cooking oils, thus offering clean, sustainable energy alternatives. By promoting collection and recycling initiatives, the company plays a vital role in reducing pollution and conserving resources while mitigating the environmental impacts associated with waste oil disposal. Currently producing 6 million liters annually, Lootah Biofuels aims to expand its capacity to meet the rising demand for clean energy in the transport sector. With a network of partners supplying used cooking oils, the company now serves over 200 domestic clients who utilize its biofuels in their transport fleets. Its biofuels, derived from cooking oils, provide significant carbon reductions and enhance vehicle performance, offering superior lubricants that prolong engine life.