Axelum Partners with First Gen in Clean Energy Shift

​Axelum Resources Corp. (AXLM), the country’s leading fully-integrated manufacturer and exporter of premium coconut food products, has partnered with First Gen Corporation (FGEN), the country’s leading provider of renewable energy (RE), for direct supply of geothermal power as part of the company’s strategy to shift its business operations to RE.

​Under the agreement, First Gen will supply up to 5.2 megawatts (MW) of electricity to power Axelum’s manufacturing activities in Medina, Misamis Oriental.
 
First Gen will source the geothermal power for Axelum from the Mt. Apo Geothermal Power Plant, operated by First Gen subsidiary Energy Development Corporation.
 
“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,” stated Mr. Henry J. Raperoga, President and Chief Operating Officer of Axelum Resources Corp.
 
The direct supply agreement between Axelum and First Gen was enabled by the Retail Competition and Open Access provision under Republic Act 9136, otherwise known as the Electric Power Industry Reform Act of 2001, which allows qualified customers to select their preferred retail electricity supplier, to promote competition and transparency in the electricity market.
 
“It is our privilege to partner with Axelum to help drive sustainability in the manufacture and export of one of our country’s major commodities. Geothermal power is the only RE technology that can run 24/7 and can support major manufacturing operations. RE can help reduce carbon footprint of various industries and when combined with energy efficiency solutions, can boost decarbonization and rationalize electricity usage,” said Carlo Vega, Chief Engagement Officer of First Gen.
 
As a pioneering sustainability leader, Axelum’s manufacturing and export operations, backed by multiple international quality certifications, makes full-use of coconuts to produce an extensive range of best-in-class coconut food products. Coconut shells are utilized as feedstock to fuel industrial boilers that generate manufacturing steam, resulting to zero-waste from its primary raw material. To achieve circularity, Axelum implements an active reforestation program that aims to increase the population of young coconut trees and improve productivity, while doubling as a carbon sequestration strategy to help mitigate climate risks.
 
First Gen, on the other hand, owns and operates 13 geothermal power plants across the country, with close to 1,200 MW of installed capacity, or roughly 60 percent of the country’s total geothermal power capacity. The First Gen RE portfolio also includes over 400 MW of power generating capacity from hydro, wind and solar facilities; and to mitigate the intermittence of RE, four other power plants with a total capacity of 2,017 MW that run on natural gas—providing a balance between low-carbon electricity and energy security.