Malaysia and Japan-based Asian Energy Investments Pte Ltd have launched a $100 million venture capital fund to invest in clean energy projects in Southeast Asia.

Malaysia’s Prime Minister Najib Razak announced the launch of the fund on Monday at a meeting of sustainable development experts in San Francisco in the United States.

Malaysian fund management company Putra Eco Ventures Inc. will channel the fund’s investments into small- and medium-sized companies and technologies such as wind, solar or tidal energy.

It will also help find cheaper biodiesel feedstocks for Malaysian biodiesel plants which have been idled because they rely on expensive crude palm oil.

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