Yokohama, Japan – December 2, 2021 – 3DOM Inc. (“3DOM”) today announced that it has entered into a transaction agreement (the “Agreement”) for business collaboration, investment, and a share swap with G8 SUBSEA PTE. LTD. (“G8”). In the business collaboration, 3DOM’s wholly-owned subsidiary 3DOM (Singapore) Pte. Ltd. (“3DOM SG”) will become the primary supplier of batteries and energy storage solutions for all of G8’s wind, solar, and hydro power projects. G8 will benefit from reliable, long-life batteries that enable more efficient and economical energy storage for renewable energy projects.
Subject to the terms and conditions of the Agreement, 3DOM is to invest up to US$10 million in G8, representing an aggregate of up to 5% of G8 at a valuation of US$200 million. In the share swap, 3DOM SG is to issue new shares representing 8% of 3DOM SG’s enlarged issued share capital in consideration for the issue by G8 of new shares representing 24% of G8’s enlarged issued share capital.
In addition to the supply of batteries, 3DOM SG is to supply technology and systems for the monitoring of battery conditions and appropriate allocation of first-life and second-life batteries for projects. Meanwhile, 3DOM SG and G8 will jointly explore new opportunities for renewable power generation, including those related to thermal power generation using biomass-derived pellets, in addition to the further development of wind, solar, and hydro power generation business.
3DOM SG and G8 will also jointly explore business related to electric mobility, including the implementation of a total-zero-carbon-emission model for commercial transport businesses, in which electric vehicles are provided by lease/subscription and charged with renewable energy. The goal is to reuse these vehicle batteries in stationary energy storage applications, establishing a circular system of first-life and second-life use that takes advantage of 3DOM batteries’ longevity.
“There is great synergy between 3DOM and G8,” says 3DOM SG Director & CEO Shusuke Oguro. “We are very pleased for the chance to supply our advanced lithium-ion batteries for G8’s renewable energy storage applications in Singapore and across Asia. Moreover, 3DOM and G8 share a closely aligned vision for the future, so we are excited to leverage each company’s strengths and explore new opportunities for more environmentally-friendly power generation and transportation made uniquely possible by this partnership.”
“We are truly excited about this technological and business collaboration with 3DOM. It enables our Group to offer world leading solutions to clean energy storage with 3DOM’s breakthrough battery technology. G8 is now able to integrate 3DOM’s battery and fuel cell systems to offer complete and long-life energy storage solutions to our commercial and utility clients,” says G8 Founder & Managing Director Gerald Tan.
About 3DOM Inc.
3DOM Inc. is a Japanese venture company that aims to truly solve critical environmental issues through the research and development of advanced lithium-ion battery, next-generation battery, and fuel cell technologies and the formulation of innovative business models that maximize the technology’s environmental and social impact.
About 3DOM (Singapore) Pte. Ltd.
3DOM (Singapore) Pte. Ltd. is a wholly-owned subsidiary of 3DOM Inc. responsible for production and supply of lithium-ion batteries developed by 3DOM Inc. for use in mobility and energy storage applications. The company further proposes circular business models that take advantage of the batteries’ unique characteristics, including superior lifespan and reliability, to increase the sustainability of electrification.
About G8 SUBSEA PTE. LTD.
G8 develops and constructs renewable energy projects across the globe. Headquartered in Singapore, the group presently has over 2.5GW of renewable energy and subsea transmission projects under development in Asia. The company is Asia’s leading subsea engineering solutions provider with proprietary engineering technologies to accelerate offshore windfarms and large scale floating solar developments across the region.