KUALA LUMPUR (Sept 30): Destini Bhd has been appointed as the exclusive distributor in Malaysia for a global group’s energy storage systems for residential and commercial usage, and electric vehicle (EV) chargers.
The engineering solutions provider said its 70%-owned subsidiary, Destini ESS Sdn Bhd (DESS), was awarded the deal by Singapore-based Alpha ESS International Pte Ltd, a wholly-owned subsidiary of global energy storage solution service provider Alpha ESS Co Ltd.
The China-based group specialises in the manufacturing of battery storage products and intelligent energy management systems for residential and commercial energy storage applications.
“Under the terms of the agreement, DESS gains exclusive rights to locally distribute energy storage systems for residential and commercial application, electric vehicle charger, plus storage solutions and any other new products developed and manufactured by Alpha ESS group,” Destini said in a statement.
“The agreement allows Destini to expand its capabilities in the energy segment by providing energy storage solution systems in Malaysia.
“With Alpha ESS group being one of the global market leaders to provide energy storage solutions and services, the agreement allows DESS to distribute Alpha ESS group’s current range of products, as well as future products in Malaysia,” it added.
Destini said the agreement also entails DESS and Alpha ESS group working together to identify business opportunities globally, which would extend the distribution exclusivity to DESS in any international market where DESS is able to secure business.
The group added that the collaboration is in line with its move to expand and strengthen its renewable energy segment, while supporting the government’s plan to implement green technology to reduce carbon emissions by 45% by 2030.
Shares in Destini closed unchanged at seven sen on Friday (Sept 30), giving the group a market capitalisation of RM109.17 million.
