Clean Kinetics, a Hong Kong-based renewable energy (RE) specialist, has announced that it has raised S$4.3 million (approximately $3.34 million) in a Series A funding round to support its plans for international expansion and asset development in the renewables infrastructure sector.
According to a statement from Clean Kinetics, a few local family office-backed private investors spearheaded this funding round.
With offices and project sites already established in Singapore, Malaysia, the United Arab Emirates, Saudi Arabia, Qatar, Jordan, and Thailand, the investment will support the company’s expansion plans and expanding project pipeline, which aim to expand its portfolio of solar assets and increase the total capacity installed in its various projects to >1.2GW.
Clean energy and electricity have become a viable and extremely economical solution as the demand for power rises due to increased industrial activity, the adoption of electric vehicles (EVs), the development of artificial intelligence (AI) through data centers, and favorable government policies.
By 2030, the governments of the United Arab Emirates (UAE) and Saudi Arabia have set goals of using 30% and 50% of their electricity from renewable sources, respectively.
According to Clean Kinetics, the company is in a good position to assist with these plans for the rollout of clean energy infrastructure in Southeast Asia and the Middle East.
“This is a very exciting time for Clean Kinetics. Our strong track record has led to us securing a bigger pipeline of projects and assets while providing more innovative solutions via our holistic monitoring and maintenance systems and financing platform，
“This successful round and level of capital raised – amidst the uncertainty in international trade and policies -reaffirms our unique proposition and capabilities to develop quality renewable energy assets globally, especially in our key markets which have rising energy infrastructure and power needs”, said Wilson Lee, Clean Kinetics Co-founder and Chief Executive Officer.
Lee Kah Lup, the company’s co-founder and chief development officer, stated that the investors contribute extensive knowledge in industries like real estate, hospitality, and edible oils.
According to him, they also have specific plans to grow into traditional medicine, sustainable industries, and health and wellness.
”As strategic partners, their commitment to integrating renewable energy into their operations as part of broader sustainability initiatives presents valuable synergy，
“Together, we look forward to further growing our portfolio and strengthening our regional presence,” he added.
In Southeast Asia and the Middle East, Clean Kinetics is a well-known renewable energy company with a proven track record of installing and managing solar and electric vehicle infrastructure.
Over 800 MWp of capacity and over 1.4 million solar panels have been successfully installed by the company in utility-scale and commercial and industrial projects worldwide.
