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.
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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.”
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