New Pilot Project in Indonesia to Cultivate Pongamia on Former Coal Mine Site
- Verifying Potential for Biofuel Supply and Carbon Credits -

April 14, 2026

Mitsui O.S.K. Lines, Ltd., PT Hasnur Group Indonesia, Hanwa Co., Ltd., NH Foods Ltd., Four Pride Management Pte. Ltd., and SPIL Ventures (their respective presidents and headquarters are listed below) today announced the formation of a consortium to launch a pilot cultivation project for Pongamia, a plant known for its oil-bearing seeds, in Tapin Regency, South Kalimantan Province, Indonesia. The consortium will use approximately 10 hectares at the site of a former coal mine to conduct technical verification over a five-year period from 2026 to 2031, including the cultivation of Pongamia, the collection of growth data, and the assessment of its potential both as a biofuel feedstock and as a source of carbon credits.

Consortium participants are as follows: Mitsui O.S.K. Lines, Ltd. (President & CEO: Jotaro Tamura; Headquarters: Minato-ku, Tokyo), PT Hasnur Group Indonesia (President Director: Jayanti Sari; Headquarters: South Jakarta, Indonesia), Hanwa Co., Ltd. (President: Yoichi Nakagawa; Headquarters: Chuo-ku, Tokyo), NH Foods Ltd. (President and Representative Director: Fumio Maeda; Headquarters: Kita-ku, Osaka), Four Pride Management Pte. Ltd. (CEO: Shinsuke Togawa; Headquarters: Singapore), and SPIL Ventures (Director: Sumarny Manurung; Central Jakarta, Indonesia).

Pongamia is a leguminous tree native to India that grows wild in warm, humid climates across southern China, Okinawa, and Taiwan, as well as in tropical and subtropical regions including India, Southeast Asia, Australia, and the Western Pacific Islands. Okinawa Prefecture represents the northern limit of its natural distribution. The seeds contain approximately 30%-45% oil, and because this oil is non edible, it can be used in the production of biofuels without impacting food supplies. For cultivation, the consortium will draw on the expertise and technical guidance from Indonesia's National Research and Innovation Agency (BRIN: Badan Riset dan Inovasi Nasional) and national university in Japan regarding plant cultivation and seed production.

Drawing on the insights gained through the verification activities outlined below, the consortium will jointly explore the potential for future commercialization.

• Assessment of Pongamia's suitability for cultivation and collection of growth data
• Evaluation of its potential as a biofuel feedstock
• Verification of the supply chain for biofuel feedstock
• Verification of the reuse potential of former coal mining sites
• Assessment of the potential for generating carbon credits
• Identification of challenges for future commercialization

Company Profiles

Mitsui O.S.K. Lines, Ltd.
Mitsui O.S.K. Lines (MOL) operates a diverse fleet of more than 900 vessels, including LNG carriers, car carriers, oil tankers, and bulk carriers. While shipping is its core business, the company is also engaged in a wide range of social infrastructure sectors, such as marine and offshore businesses, offshore wind power-related services, logistics, and real estate, as well as B2C businesses including cruises and ferries. MOL is committed to achieving net zero emissions by 2050 and is advancing various initiatives to reduce greenhouse gas (GHG) emissions. For more information, please refer to the MOL Group Environmental Vision.

PT Hasnur Group Indonesia
Hasnur Group is a diversified business group founded in 1966 by South Kalimantan entrepreneurs H. Abdussamad Sulaiman HB and Hj. Nurhayati. The name "Hasnur" is derived from a combination of the founders' names. Initially engaged in river transportation and forestry, the Group has since grown into an integrated business with seven Strategic Business Units (SBUs), spanning logistics, agribusiness and forestry, energy, technology and services, education, consumer services, and investment. Guided by its motto "Grow Together, Develop the Future," Hasnur Group is committed to social development through Yayasan Hasnur Centre, which supports various social and educational initiatives in South Kalimantan. The Group, which has operated for nearly six decades, is also the owner of professional football club PS Barito Putera.

Hanwa Co., Ltd.
Founded in 1947, Hanwa Co., Ltd has expanded its business into a wide range of fields, including steel, non-ferrous metals, food, energy, daily necessities, and timber. In energy division, the company is focusing on biofuels, which have the potential to contribute to global decarbonization. The company is actively working to secure a diverse range of biofuels in Southeast Asia, where raw materials are abundant, and is promoting projects aimed at establishing a long-term, stable supply system.

NH Foods Ltd.
The NH Foods Group operates a wide range of food businesses centered on fresh meat and processed foods, and also including dairy products, seafood products, and health-related value areas.
Through the "joy of eating," we contribute to enriching people's lives.
We position sustainability as a key management theme and promote initiatives integrated with our business, including addressing climate change (reducing GHG emissions), resource circulation, and reducing food loss.
https://www.nipponham.co.jp/eng/csr/index.html

Four Pride Group
Four Pride Group is engaged in the development of next-generation biofuels derived from Pongamia. The company promotes plantation development in Southeast Asia and, in Indonesia, collaborates with local partners to operate a nursery hub, "PoMa Hub (Pongamia-Malapari Development Hub)," through which it advances the supply of high-quality seedlings and the development of cultivation technologies.
https://www.fourpride.com/en

SPIL Ventures
SPIL Ventures is the corporate venture capital arm of a shipping line and logistics company, PT Salam Pacific Indonesia Lines (PT SPIL). At SPIL Ventures, we focus on fostering digitally driven innovation across various industries. By investing in and partnering with startups, visionaries, and innovators, we help transform ideas into impactful ventures. With extensive experience, we bring value to promising projects and turn shared visions into reality. Our goal is to accelerate growth and drive smart, efficient progress nationwide. For more information, please refer to our website.
https://spilventures.com/