$Union Gas (1F2.SG)$ SINGAPORE, 20th March 2024 – SGX Mainbo...

Deep Sea commented on a stock · Mar 21 12:19

SINGAPORE, 20th March 2024 – SGX Mainboard listed Union Gas Holdings Limited (优联燃气控股有限公司) (“Union Gas” or together with its subsidiaries, the “Group”), has announced its intention to broaden its fuel product offerings to include Electric Vehicle (“EV”) charging solutions following the recent inking of a Memorandum of Understanding (“MOU”) with Hong Kong-based charging solutions provider Deltrix Limited1 (“Deltrix”).

The Group currently operates2 four EV charging nozzles at its headquarters at 89 Defu Lane 10 with plans to progressively add 12 more charging nozzles to this location over the next two years. It also intends to install charging stations at its Cnergy fuel station at 50 Old Toh Tuck Road in due course as well as explore other potential locations across Singapore.

Mr Teo Hark Piang, CEO of Union Gas, said: “As a fuel products provider with a history of more than 40 years, we are always on the lookout for new energy solutions to seize business opportunities and meet market demands. The EV charging operator licence enables us to serve a new segment of customers who have transitioned from Internal Combustion Engine vehicles to EVs.

“Besides Singapore, our MOU with Deltrix also covers Japan and the Southeast Asia region. However Singapore being our home base, we would like to firmly establish our network here before exploring opportunities to replicate the business operations in other markets.”

sgx.com/FileOpe...

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