KUALA LUMPUR, 16 June 2021 – Techna-X Berhad (“Techna-X” or the “Group”), the world’s only manufacturer of ru-thenium based ultra capacitor and a key technology player in the renewable energy storage, digital transformation and IoT space, today signed a Sale & Purchase Agreement to acquire a 49% stake in NHK Energy Construction Sdn. Bhd. (“NHK”).
“This acquisition will fast track Techna-X’s expansion into the green energy segment of Smart City developments in Malaysia as well as in the Asia Pacific region. We are excited to have this relationship with NHK where both parties see great synergies and expansion opportunities leveraging on intelligent digital technologies and renewable energy, especially with our IoT and ultra capacitor technology”, said Tunku Naquiyuddin ibni Tuanku Ja’afar, Executive Chairman of Techna-X.
NHK is a green energy company that designs, develops, commissions, contracts and markets lighting for the growing renewable energy market. It currently holds a 15-year contract from Seberang Perai City Council (“SPCC”) to supply and install smart street LED lightings. Seberang Perai City Council is Malaysia’s largest city council as it covers 747.8 sq km, with a population of 946,200.
More cities in Malaysia are transitioning into smart cities with local councils set out to meet the criteria of the Malaysia Smart City Framework. The global smart lighting market driven by smart cities is expected to grow rapidly at CAGR of 20% and expected to reach USD$22 billion by 2025 according to one market research report.
“We are excited to be part of Techna-X’s vision and expansion into the Smart City development segment where it has smart city platform solutions, including IoT and big data analytics capabilities. Partnering with Techna-X is a great value proposition as it will enable us to offer an integrated smart city solution to the market.” said Nik Hilmi Kadir, Managing Director of NHK.
Techna-X through its wholly-owned subsidiary, Touchpoint International has been involved in other key smart city developments in Malaysia including Putrajaya Smart City and the Mines Wellness City. tenders are in place for various Smart Street Light projects in Malaysia. NHK is already in advanced discussions for over RM100m worth of Smart Lighting projects with 4 local councils, and is preparing submissions for another 2 local councils.
Techna-X will benefit from this pipeline of Smart Lighting projects, to complement its focus on local councils as part of its Smart City initiatives. It adds Smart Lighting to its growing list of verticals that will enable end-to-end digital ecosystems.
NHK also greatly benefits from the synergy with Techna-X’s intelligent digital ecosystem, data analytics, mobile data and IoT solutions. With Techna-X’s financial support and expertise, NHK will increase its offerings to the local councils and scale up its roll out throughout the nation.
