News and Announcements
GasHub Signs MOU with Sinochem
- Published August 15, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
GasHub, focused on gas-piping and energy services has released information in regards to the company to be listed on the Australian Securities Exchange (ASX) in the next few months.
KEY TAKEAWAYS:
- Signed Memorandum of Understanding (MOUs) with Sitra Holdings (International) and AbsoEnergy.
- AbsoEnergy is the Asia-Pacific representative of Chinese state-owned enterprise Shanghai Sinochen JN Energy Co Ltd.
- AbsoEnergy, Managing Director, Kelvin Sim said that representing Sinochem in the Asia-Pacific region meant that all agreements and joint ventures with Sinochem will be signed by AbsoEnergy.
- GasHub’s MOU with Sitra establishes the joint intention of both companies to work towards.
- The MOU has also established the intent for Sitra and GasHub to jointly market the 3GEX CHP.
- Since GasHub’s system works off natural gas, this MOU will allow the company to market their product to more customers in remote locations.
GasHub sais “using a CHP system would result in cost savings of about 25 per cent compared with running regular heating and power systems”.
GasHub CEO Aviers Lim said: “These MOUs demonstrate a greater demand for cleaner energy in the region, as well as growing interest in our patented technology solutions which help businesses save on energy costs with a more sustainable natural gas supply. We are pleased with this good momentum in the lead-up to our upcoming listing on the ASX, and look forward to more of such collaborations in the pipeline.”
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