Thumb drive maker Trek injects US$3m in solar energy firm for 7.5% stake
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THUMB drive maker Trek 2000 International has injected US$3 million in solar energy firm Terrenus Energy Pte Ltd for a 7.5 per cent stake, in a bid to enter the renewable energy industry.
Terrenus Energy was incorporated in Singapore in 2016, and operates in Singapore, Australia and China. The firm offers solar energy systems through the installation of solar panels.
In 2018, Terrenus Energy clinched its first solar project in Singapore with JTC to build the country's first solar farm on Jurong Island. That year, the firm also signed a memorandum of understanding with its Chinese partner for the installation of a 250 MW solar power plant for their chemical plants and logistic hubs across China.
Trek and Terrenus Energy will collaborate on smart renewable power systems tapping into Trek's research and development capabilities.
Wayne Tan, president and executive director of Trek, said that the company hopes to help Terrenus Energy grow to become "the face of renewable energy and preferred energy solutions provider in a market which presents tremendous opportunities for growth".
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