Homegrown tech company Trek 2000 International has deepened its partnership with energy solutions company, Terrenus Energy.
On July 19, Trek 2000 announced that it had entered into a sale and purchase agreement (SPA) with the latter for the provision of integrated solutions and development of a renewable energy eco-system for $10 million.
According to the statement released by Trek 2000, the latest partnership between both parties will allow them both to “further hasten” the transition towards renewable energy in Singapore. The partnership will tap on Trek 2000’s extensive research and development (R&D) and internet of things (IoT) solutions to enhance Terrenus Energy’s capability in the renewable energy segment.
“We are pleased to enter into this agreement with Terrenus Energy, which reflects the strong synergies between us,” says MK Kuan, president, sales B2C of Trek 2000.
“The provision of integrated solutions and development of an eco-system in the renewable energy segment will allow the group to further advance our expertise in the renewable energy business, which continues to see strong demand in recent years,” he continues.
“As Singapore continues to place emphasis on transitioning to renewable energy as a source of energy, we believe that this partnership is a step in the right direction for the group and allows the group to be well-positioned to play an important role in the growing renewable energy business segment.”
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As at 4.52pm, shares in Trek 2000 are trading flat at 9 cents.
