SP Group inks deal with international start-ups DEPsys and BeON Energy to test potential for solar technology

Singapore Power, known as SP Group, has signed agreements with two companies to test the technical viability and compatibility of solar technologies and grid monitoring solutions in Singapore.

It was announced on Thursday that Memorandums of Understanding will be signed with two international start-ups, BeON Energy and DEPsys.

See also: 

China to end sale of petrol and diesel cars

China announces plans to move to ethanol gasoline by 2020

Video: how serious is China about renewable energy? 

BeON Energy is a Portuguese firm that produces solar electronics. It is hoped its agreement with SP will bring cost effective solar solutions to homes. BeON was founded in 2015 and has a current revenue of around $3mn.

DEPsys is a Swiss Start-up which provides solutions enabling traditional low-voltage electricity networks to cope with decentralised production of renewable energy. It is hoped that they will be able to develop a low-voltage grid monitoring solution, in order to help SP Group become more efficient and reliable.

The deals were announced at the Free Electrons Global Accelerator event by SP Group CEO Wong Kim Yin.

Wong stated to reporters that these companies have relevant ideas to problems SP is keen to solve as quickly as possible. He expressed confidence that results will be seen within six months including more information on “how to commercialise [the ideas], whether we will be able to implement them and roll them out to benefit consumers in Singapore.”

Share

Featured Articles

Top 10 fastest-growing companies across the Asia-Pacific

From Singapore to South Korea, Hong Kong to India, and spanning fintech, food and energy – these 10 businesses are seeing their revenues rise, and fast

Top 10 best-performing Australian companies: mines to banks

Among Australia’s largest companies by market cap are the country’s Big Four banks, a tech startup that successfully scaled, and two firms with female CEOs

Top 10 richest Southeast Asia: how they made their fortunes

From Singapore’s paint tycoon to Malaysia’s sugar king, we round up the 10 richest people in Southeast Asia – and investigate how they made their billions

Will moonlighting ever become accepted practice in India?

Human Capital

New YouTube CEO Neal Mohan joins surge of Indian-origin CEOs

Leadership & Strategy

Ex Infosys President Ravi Kumar is the CEO Cognizant needs

Leadership & Strategy