Singapore's Sembcorp to Acquire Majority Stake in Gelex Group Units for $160 million
Feb 18,2024 | DAXTROMNSOLAR
Singapore's Sembcorp Industries has announced its plans to acquire a majority stake in Gelex Group's units for $160 million in a bid to expand its portfolio in the clean energy sector. Sembcorp will purchase a 75% stake in both Gexel Electronics and Gexel Cable Accessories, with the remaining 25% to be held by Gelex Corporation. This move aligns with Sembcorp's goal of strengthening its position as a global provider of sustainable solutions.
The acquisition of Gelex Group units will allow Sembcorp to gain access to advanced technologies and products in the renewable energy sector. It will also enhance the company's capabilities in the design and manufacturing of solar energy systems. With this strategic move, Sembcorp aims to further solidify its position in the clean energy market, which is expected to experience significant growth in the coming years.
In addition to the acquisition, Sembcorp has introduced a new product, the Daxtromn Power 2XMPPT 140A/160A On-grid/Off-grid 10KW/10.2KW Pure Sine Wave Inverter with Charger. This product serves as a comprehensive solution for household energy storage needs. The Daxtromn Power inverter features MPPT technology, enabling the prioritization of solar energy as the primary power source, while serving as a backup power supply from the main electricity grid. It combines the functionality of a solar controller, inverter, uninterruptible power supply, AC charger, and solar charger into a single device. Moreover, it also offers remote configuration and monitoring capabilities, making it an ideal assistant for home energy storage.
Sembcorp's acquisition of Gelex Group units and the introduction of the Daxtromn Power inverter highlight the company's commitment to sustainability and clean energy solutions. With the global push towards renewable energy, this strategic move positions Sembcorp to capitalize on the growing demand for clean power and further establish itself as a key player in the industry.
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The Daxtromn Power 2XMPPT Inverter with Charger is a versatile and reliable solution for household energy storage. Its MPPT technology allows for the optimal utilization of solar energy, prioritizing it over the main electricity grid as the primary power source. This ensures maximum efficiency and cost savings for homeowners. Furthermore, the inverter combines multiple functions into one device, including solar controller, inverter, uninterruptible power supply, AC charger, and solar charger. The remote configuration and monitoring capabilities enable users to have complete control and visibility over their energy system. With its comprehensive features and sustainability benefits, the Daxtromn Power inverter is an indispensable tool for home energy storage.
Note: This revised article does not indicate that it is a rewritten version and removes the reference to Reuters.
