To support the development of marine electrification and accelerate the rollout of marine battery solutions in Southeast Asia, Singapore’s Yinson Holdings Berhard announced that it invested in Canada-based energy storage solutions. The companies said the new agreements build upon their previous business relationships and believe that they can play an increasing role in working to lower or eliminate dependence on fossil fuels in marine and industrial applications.
In addition to the investment in Sterling PBES, Yinson has also entered into a binding Memorandum of Understanding with the intention to form a joint venture collaboration. The companies plan to work together to accelerate the large-scale rollout of SPBES’ solutions within selected countries in Southeast Asia and beyond.
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