83 BUSINESS REVIEWS | YINSON GREENTECH Establish Yinson as a recognised brand within net zero technologies and businesses. Yinson GreenTech has gained significant brand visibility as indicated by increased media and social media presence, numerous awards and recognitions and participation in major industry events. STRATEGIC GOALS (2020 – 2030) PROGRESS AGAINST OUR GOALS Accelerate business growth by working with like-minded partners and attracting investment capital. Like-minded partners who are collaborating with us include: • Partners in the Goal Zero Consortium, including Seatech Solutions, Shift Clean Solutions, RINA Hong Kong and Lita Ocean • United Overseas Bank Limited (UOB) • Oversea-Chinese Banking Corporation Limited (OCBC) • CelcomDigi • LHN Group • PLUS Malaysia • GoCar Malaysia • Proton’s Pro-Net • CDG Engie • JomCharge • Gentari • BEV Charging Company • BMW Malaysia • BYD Malaysia Develop a net zero solutions platform capable of adapting and incorporating novel technologies. We have established and operationalised the key enablers towards building a smart, integrated, data-driven digital marketplace platform for electrification. This includes platforms for EV Charging, EV Fleet Management, Land Logistics, Marine Logistics and Battery Swapping. THE YEAR IN REVIEW It has been another exhilarating year for Yinson GreenTech as we made significant strides towards our quest of electrifying the land and sea transportation ecosystem. Significantly, we officially launched our five businesses to the market, each with a clear market segment, business model and brand proposition. These are: Pioneering the provision of electric vessels for the marine industry. Pioneering the transition of fleets to electric vehicles. Providing technology-driven charging infrastructure for electric vehicles and vessels. Pioneering the adoption of light electric vehicles, including Battery-as-a-Service. An integrated marketplace for digital solutions offering enhanced services in electrification. In our marinEV business, together with our Goal Zero Consortium partners, we launched the Hydromover prototype in November 2023 in Raffles Marina, Singapore. This is Singapore’s first fully electric cargo vessel, designed with swappable battery solutions from our investee company, Shift Clean Solutions. marinEV has received letters of intent from six offtakers so far who are currently conducting operational trials on the prototype, with a view of incorporation into their fleet operations in the future. Our Hydroglyder prototype completed construction in Melaka, Malaysia, in December 2023. The vessel is now in Singapore waters, undergoing flight testing and regulatory compliances with the flag authorities. Both these projects have received keen interest from financiers for the commercialisation of both vessels. We are pleased to have secured financing from UOB and OCBC for the financing of the Hydromover and Hydroglyder prototypes, respectively. Our drivEV business solutions have also received a strong uptake from commercial and industrial partners who are keen to champion the transition to decarbonise their fleets. With Pos Malaysia, we were selected to provide a comprehensive electric vehicle fleet solution which includes the deployment of 143 vans that are integrated with telematics, the smartEV app and a fleet management system. In addition, the fleet solution includes the provision of integrated charging solutions at Pos Malaysia depots nationwide, with support from our chargEV business.
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