Axelum taps First Gen for clean energy shift

MANILA, Philippines — Axelum Resources Corp., a listed integrated manufacturer and exporter of premium coconut products, has tapped Lopez-led First Gen Corp. to support its clean energy shift.

Axelum said it has partnered with First Gen, a leading provider of renewable energy, for direct supply of geothermal power.

The move is part of Axelum’s strategy to shift its business operations to renewable energy.

“This initiative forms an integral part of our core sustainability agenda and demonstrates our serious commitment to building climate resiliency. From a broader view, this move will also provide us with reliable energy supply leading to operational cost efficiencies, lower carbon emissions and positive environmental impacts in the long term,” Axelum president and COO Henry Raperoga said.

Under the agreement, First Gen will supply up to 5.2 megawatts of electricity to power Axelum’s manufacturing activities in Medina, Misamis Oriental.

First Gen, will source the geothermal power from the Mt. Apo Geothermal Power Plant, which is operated by its subsidiary Energy Development Corp.

First Gen chief engagement officer Carlo Vega said that the partnership would help drive sustainability in the manufacture and export of one of the country’s major commodities.

Axelum, which is 34.8-percent owned by a subsidiary of Manuel V. Pangilinan-led Metro Pacific Investments Corp., makes full-use of coconuts to produce an extensive range of best-in-class coconut food products through its manufacturing and export operations.

“Geothermal power is the only renewable energy technology that can run 24/7 and can support major manufacturing operations. Renewable energy can help reduce carbon footprint of various industries and when combined with energy efficiency solutions, can boost decarbonization and rationalize electricity usage,” Vega said.