112 YINSON HOLDINGS BERHAD STRATEGY & OUTLOOK BUSINESS REVIEW - GREEN TECHNOLOGIES YINSON GREENTECH GOALS AND STRATEGIES GOALS • Establish green technologies as a major revenue stream for Yinson. • Develop profitable, disruptive businesses, based on clean technologies and digitalisation. • Achieve a net zero business. Strategies Short to medium-term (1 to 5 years) • Identify and invest in strategic green technology companies and develop assets within the marine, mobility and energy segments. • Relentlessly drive innovation in alignment with government incentives and industry trends. • Build low-carbon businesses serving commercial and industrial customers, supporting their own net zero ambitions. Long-term (6 to 10 years) • Accelerate business growth by working with like-minded partners and attracting investment capital. • Establish Yinson as a recognised brand within net zero technologies and businesses. • Develop a net zero solutions platform capable of adapting and incorporating novel technologies. MARKET OVERVIEW The world is seeing innovations and advancements in green technologies developing at a phenomenal speed, catalysed by increasing energy demand and a global movement towards clean energy sources. In the period from 2020 to 2030, the global green technologies and sustainability market is expected to grow at more than 20% per annum. Global primary energy consumption is expected to increase by approximately 50% by 2050, with global electricity demand more than doubling over the same period. Despite the pandemic, electric cars had a record year in 2021, with Europe overtaking China as the largest plug-in market and sales more than doubling compared with 2020 and tripling when compared with 2019. Global electric car stocks increased by 43% in 2020 compared to 2019, caused by the rising competitiveness in the EV market and national fiscal incentives. In line with this growth, the EV charging infrastructure market is expected to boom, with market size anticipated to reach almost USD120 billion by 2027 – up from only USD20 billion in 2019. With energy storage and renewables set to play increasingly important roles in powering EVs globally, we also foresee great growth in the energy storage sector. Battery market size is expected to grow by between 10% and 15% annually between 2020 and 2027, reaching over USD300 billion by 2027. Experts believe that improved battery technology could reshape industries that contribute most to carbon emissions, especially transport and energy production. The electrification of the marine sector is also gaining momentum worldwide, with electric technologies and energy storage emerging as alternatives to decarbonise the maritime shipping industry especially in short sea transportation. Experts agree that while much of the shipping sector is committed to decarbonising, the availability, technological development and infrastructure for alternative fuels is a major challenge that needs to be addressed for the sector to help limit global temperature rise to 1.5°C in line with the Paris Agreement. In COP26, more than 40 nations signed up to the Breakthrough Agenda, making a commitment to align standards and coordinate investments to speed up clean technology production to bring forward the tipping point at which green tech is more affordable and accessible. The first five breakthroughs stated within the agenda are clean electricity, EV, green steel, hydrogen and sustainable farming. With these sectors demonstrating strong outlooks, we believe that Yinson’s focus on building a green ecosystem within and between the marine, mobility and battery segments provides solid opportunities to deliver greater value to our stakeholders. YEAR IN REVIEW YGT was established in September 2020 with a clear minded purpose to accelerate the transition to a net zero world through investments in novel green technologies within the marine, mobility and energy segments. YGT
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