Marine Battery Supplier Sterling PlanB Receives Singapore Investment

by Ship & Bunker News Team
Thursday October 7, 2021

Singapore-based investment company Yinson Holdings has bought a stake in marine battery systems provider Sterling PlanB.

As well as the investment, the two firms have signed a memorandum of understanding to form a joint venture seeking to expand Sterling PlanB's sales across Southeast Asia and beyond, the companies said in an emailed statement this week.

"We believe that Sterling PlanB is equipped with high standards in marine energy storage system capabilities, including advanced technology and outstanding safety features," Eirik Barclay, executive vice president for new ventures and technology at Yinson, said in the statement.

"As a pioneer in this space, Sterling PlanB is uniquely positioned to take advantage of the marine decarbonisation initiatives taking place globally."

The two companies have already worked together on the development of an electric passenger vessel, theĀ Hydroglyder.