Davex has acquired 51% of Xenergi. The acquisition of Xenergi is driven by a favourable local landscape. The Government of Malaysia announced its focused power generation plan with a target of 31% Renewable Energy (RE) in installed capacity by 2025 and 40% by 2035. Solar is expected to contribute mainly to growth in RE capacity in Malaysia and regionally, as it is considered a cheaper alternative to other energy sources.
Davex, a portfolio company of Ekuinas, currently enjoys segment market leadership in Malaysia, Singapore and Australia. It is a homegrown lighting design, manufacturing and consultancy which provides end-to-end lighting solutions under the brand Davis Lighting.
Meanwhile, Xenergi is a Malaysian-based energy advisory and solutions company which was incorporated in 2017. The company is backed by a team of highly experienced industry professionals within the sustainability environment. Its Founder and Managing Director Ir. Mohd Fadzil Ahmad Shah has over 20 years’ experience in Malaysia and the Middle East. He currently also serves as lead for the Technical Committee of the Malaysian Association of Energy Services Company (MAESCO).
“We are excited with Xenergi coming onboard under the Davis umbrella, allowing us to bring end-to-end solar energy generation, energy management, cooling optimization and sustainable lighting solutions. This will build upon our coveted track record spanning 40 years across the region in implementing iconic commercial lighting installations, including connected LED smart solutions over recent years. Xenergi will surely advance our ESG and Internet of Things (IoT) vision,” Davex Group CEO Alok Ghose said.
To recap, Ekuinas had acquired Penang-based Davex in 2017. Founded in 1983, the company provides end-to-end lighting solutions to commercial, industrial and residential clients, with strong presence in Singapore and Australia. The company has been involved in projects such as the PNB 118, KLCC, Sunway Medical Centre, and Singapore’s Changi Airport and Public Housing programme.
“With this acquisition, Davex and Xenergi will be in a unique position to offer holistic Renewable Energy and Energy Efficiency solutions, with digitally connected integration technologies to spearhead Smart and Sustainable Buildings, Industries, and Infrastructure. Combined with Smart EMS, Illumination, EPC and Turnkey capabilities, it will also catalyse our sustainability efforts in a variety of segments across Southeast Asia,” Alok added.
