Mazoil Technologies Ltd (MAZOIL) is an exempt Company registered in the Cayman Islands with more than 300 shareholders from over 12 nations.
MAZOIL owns the worldwide patents for its formulation of nitroalkane-based chemicals that enhance the combustion efficiency of fuels.
The Company believes that MAZ fuel combustion efficiency is an effective way of reducing global crude oil consumption and toxic vehicle pollution. Importantly, fuel consumption by vehicles represents the fastest growth sector for oil consumption. In 2017, the number of worldwide passenger cars and commercial vehicles was estimated at 1.493 billion units, an increase of 7.8% over 2016.
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 taxis 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 widely reviewed fuel product in Singapore with more than 1,200 reviews, and still growing.
The success of MAZ Nitro in Singapore has secured the commitment of a distributor in Malaysia in March 2017. The sale has started with repeat orders of pallet sizes for each order.
MEPL is now expanding its network of partners to introduce its MAZ concentrate and consumer brands to Africa and Europe.