Japan-based 3DOM has signed an agreement with Singapore-based G8 Subsea to be the primary provider of batteries and energy storage solutions for its renewable energy (RE) portfolio. Under the agreement, 3DOM will invest approximately USD10 million in G8, representing a total stake of 5 per cent in the company.
Meanwhile, through a share swap, 3DOM (Singapore) (3PL), 3DOM’s wholly-owned subsidiary, will issue additional shares representing 8 per cent of its issued share capital. 3PL will provide technological solutions to monitor battery conditions and allocate first- and second-life projects aside from supplying batteries.
The two firms will collaborate to investigate new potential for RE generation, including thermal power generation utilising biomass-derived pellets and the expansion of wind, solar, and hydro power generation initiatives. They’ll also investigate opportunities related to electric mobility, such as implementing a total-zero-carbon-emissions model for commercial transportation companies, in which electric vehicles (EV) are leased or subscribed to and charged with RE.