G8 & 3DOM In RE Technology Collaboration
Dec 08,2021
G8 SUBSEA Secures US10milion Investment and Technology Collaboration 3DOM Japan - Securing Leadership in
Renewable Energy Storage Solution in Tie Up
G8 Subsea signs transaction agreement with leading battery and energy storage solutions provider, 3DOM
Partnership gives both companies access to business collaboration, investment, and share swap and will give G8 a US$200 million valuation.
G8 Subsea and 3DOM Inc recently announced that the companies have entered into a transaction agreement.
The agreement allows the subsidiary of 3DOM (Singapore) Pte. Ltd. (“3DOM SG”) to become the primary supplier of batteries and energy storage solutions for all of G8’s wind, solar, and hydro power projects. G8 will benefit from reliable, long-life batteries that enable more efficient and economical energy storage for renewable energy projects.
“We are truly excited about this technological and business collaboration with 3DOM. It enables our Group to offer world-leading solutions to clean energy storage with 3DOM’s breakthrough battery technology. G8 is now able to integrate 3DOM’s battery and fuel cell systems to offer complete and long-life energy storage solutions to our commercial and utility clients,” says G8 Founder & Managing Director Gerald Tan.
3DOM SG will issue new shares representing 8% of its enlarged issued share capital in exchange for new shares representing 24% of G8’s enlarged issued share capital.
“There is great synergy between 3DOM and G8,” says 3DOM SG Representative Director & CEO Shusuke Oguro. “We are very pleased for the chance to supply our advanced lithium-ion batteries for G8’s renewable energy storage applications in Singapore and across Asia. Moreover, 3DOM and G8 share a closely aligned vision for the future, so we are excited to leverage each company’s strengths and explore new opportunities for more environmentally-friendly power generation and transportation made uniquely possible by this partnership.”
About G8 Subsea Pte. Ltd.
G8 develops and constructs renewable energy projects across the globe. Headquartered in Singapore, the group presently has over 2.5GW of renewable energy and subsea transmission projects under development in Asia. The company is Asia’s leading subsea engineering solutions provider with proprietary engineering technologies to accelerate offshore windfarms and large scale floating solar developments across the region.
About 3DOM Inc.
3DOM Inc. is a Japanese venture company that aims to truly solve critical environmental issues through the research and development of advanced lithium-ion battery, next-generation battery, and fuel cell technologies and the formulation of innovative business models that maximize the technology’s environmental and social impact.
About 3DOM (Singapore) Pte. Ltd.
3DOM (Singapore) Pte. Ltd. is a wholly-owned subsidiary of 3DOM Inc. responsible for production and supply of lithium-ion batteries developed by 3DOM Inc. for use in mobility and energy storage applications. The company further proposes circular business models that take advantage of the batteries’ unique characteristics, including superior lifespan and reliability, to increase the sustainability of electrification.