Cypark to work with 21st Century Clean for energy storage projects

PETALING JAYA: Cypark Resources Bhd’s(CRB) wholly owned subsidiary Cypark RE Store Sdn Bhd, is partnering with 21st Century Clean Energy GmbH & CoKG, to cooperate for energy storage projects and to jointly expand their business opportunities in the area of renewable energy in Malaysia.
21st Century Clean Energy GmbH & CoKG, is an authorised commercial battery storage systems, TESVOLT, agent for Malaysia.
The group said in a stock exchange filing that Memorandum of Understanding(MoU) signed between the two parties will enable the partners to --encourage and promote technical cooperation, develop business promotion and marketing strategy to potential customers for battery energy Storage projects in Malaysia and jointly explore relevant business opportunities for vertical and horizontal market expansion.
In addition to that it will pave way for the partners to collaborate in feasibility study to set up renewable energy facilities, development of battery energy storage projects and provision of operation and maintenance services.
The MOU will remain effective for a period of two years.
CRB's shares gained 1.65% to close at RM2.47 with some 89,000 shares done.