Mazoil Technologies Ltd (MTL)
MTL, incorporated in the Cayman Island in 2005, is a fuel technology innovator that has developed a series of patented chemical formulation to enhance the combustion efficiency in all internal combustion engines (ICE).
In contrast to conventional detergency control additives, MAZ is based combustion efficiency in removing carbon buildup in engines to achieve greater engine power, cleaner engines, significant fuel savings and ultra-low emissions.
The fuel consumption in the road transportation is the major growth driver for crude oil consumption and is forecast to reach 46% of daily oil demand of 111.1 m barrels by 2040, even after accounting for electric vehicles representing 15% of then global vehicle population of 2.5b billion units.
Board of Directors
A four-member board of directors, comprising Joern Eriksen as Chairman, Felix Lim as CEO/President, James Goodner as Chief Financial Officer, and Gene Simonsen as director, manages the Company.
MAZ ENERGY Pte Ltd (MEPL) is a wholly owned subsidiary incorporated in Singapore to carry out applications research, marketing developments and sales. The Chairman/CEO of MEPL is Felix Lim. The other directors are Professor Chan Siew Hwa, Joern Eriksen, and James Goodner.
MEPL is primarily focused on achieving a governmental policy-based sale in China, which accounts for 11% of the global fuel market. In March 2017, the NPC Standing Committee has approved the adoption of a Resolution to introduce MAZ in accordance with the Document #1881 submitted by the National Development & Reform Commission. Currently, the relevant Ministries are coordinating the policies in an effort to implement this Approval.
MEPL has also developed the applications of MAZ technology beyond automotive industry to cover power-generation engines, locomotives, industrial boilers, ocean-going vessels, hybrid and CNG vehicles.
On the wholesale business side, MEPL has signed two contracts with oil companies to supply its chemical concentrates to Australia and Yunnan Province in China. In Singapore, MEPL has also signed a Consignee Sales Agreement with one of the largest taxi operators in Singapore.
On the retail business side, since July 2014, MEPL has started to develop a consumer brand, MAZ Nitro, to sell directly to individual motorists in Singapore, using e-commerce platforms. By September 2016, MAZ Nitro has been rated by online customers as 96% highly recommended, and it is also the most highly reviewed fuel product in Singapore with more than 1,800 reviews, and still growing.
The success of MAZ Nitro in Singapore has secured the commitment of a distributor in Malaysia in March 2017.
MEPL is now expanding its network of partners to introduce its MAZ concentrate and consumer brands to Africa and Europe.