Yinson Invests In Marine Battery Company To Offer Clean Energy For The Industry

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YINSON HOLDINGS through its Singapore subsidiary Yinson Venture Capital Pte Ltd has invested in Sterling PBES Energy Solutions Ltd, a Canada-based energy storage solutions company working to lower or eliminate dependence on fossil fuels in marine and industrial applications.

This will be part of the groups efforts in expanding its investment into and this latest move fits firmly in its strategy of marine electrification.

In addition to the investment, both have also entered into an MOU to form a joint venture collaboration to accelerate the large-scale rollout of SPBES’ solutions within selected countries in Southeast Asia and beyond.

The two companies initially collaborated on the design development of Hydroglyder – Yinson’s fully electric passenger craft with swappable batteries. Yinson Executive Vice President New Ventures and Technology, Eirik Barclay commented that the partnership would leverage Yinson’s strong presence in Southeast Asia to offer SPBES business solutions to marine, port and other industrial energy storage sectors, as well as to establish service and assembly hubs for energy storage and battery swap solutions.

As a pioneer in this space, SPBES is uniquely positioned to take advantage of the marine decarbonisation initiatives taking place globally. Yinson is excited to support the expansion of this clean energy solution in the region,” he commented.

Battery technology is key to the decarbonisation for the transport industry and this collaboration aligns strategically with Yinson’s targeted approach for growing its green technologies business.

“We’re thrilled to have Yinson on board as our cornerstone investor,” said SPBES CEO Brent Perry, “Our company has big plans to play a leading role in global clean energy solutions, and Yinson is an excellent partner for our goals. Our mutual commitment to working toward zero emissions promises great things ahead as we build energy solutions for the maritime and other industries. Together we will build a new business model for a cleaner world.”

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