Investors are increasingly excited about the prospects for much faster growth in the solar power industry in Southeast Asia, which has until now been a backwater for renewable energy.
They say that the region is in a perfect position to benefit from rapidly declining prices in solar panels. It has strong economic growth, relatively high costs of electricity and a shortage from traditional sources, undeveloped infrastructure in more remote areas, plenty of sunshine, and backing for more renewable energy from many of Southeast Asia’s governments.
“Dramatically falling costs for solar energy technologies means businesses and governments are choosing renewable energy not for environmental reasons but for economic ones,” said Roberto De Vido, spokesman for Singapore-based Equis, one of Asia’s biggest green energy-focused investment firms with $2.7 billion in committed capital. “It simply makes good business sense. And that’s a trend that’s not going to change.” Continue reading Solar power revolution ‘unavoidable’ in Asia, says industry expert
Driverless car software developer nuTonomy will integrate its self-driving software and sensor system into the new Peugeot 3008 for on-road testing later this year.
The ultimate goal of the partnership between the two companies is the deployment of thousands of fully autonomous cars in cities worldwide.
nuTonomy and Groupe PSA– which owns the Peugeot brand – say the system will initially use the Peugeot 3008s for on-road testing of fully autonomous cars in Singapore. The Peugeot 3008 was recently named 2017 European Car of the Year.
Despite headwinds in the global economy, internationalisation will continue to drive the growth of companies in the engineering consultancy sector as infrastructure demand remains strong globally.
Meinhardt Group, a global engineering, planning and management firm, is working closely with International Enterprise Singapore, the government agency partnering Singapore companies in going global, on its expansion strategy to Africa and the Middle East.
In a global manufacturing outlook report, 49 per cent of manufacturers surveyed were reported to be investing six per cent of their revenues in research and development and innovation, in a push to transform their businesses.
Asian manufacturing companies surveyed exhibited the highest investment expectations, with a majority of respondents from China, Japan and India indicating they would spend more than six per cent of their revenues on technology and innovation.
Yusen Logistics, a provider of contract logistics and air and ocean freight forwarding, has selected Swisslog warehouse and distribution Solutions to deliver the “innovative AutoStore Automated System” in Singapore.
The autonomous robots, which sit on the top of an aluminium grid as part of the innovative storage system, is expected to go into operation in 2017.
On-street testing will begin before the end of 2016 in Raymond Flynn Marine Park
nuTonomy, the developer of software for self-driving cars, has signed a deal with the City of Boston and the Massachusetts Department of Transportation that authorizes nuTonomy to begin testing its growing fleet of self-driving cars on specific public streets in a designated area of Boston.
nuTonomy will begin testing its self-driving Renault Zoe electric vehicle before the end of the year in the Raymond L Flynn Marine Park in the Seaport section of the city.
Uber rival Grab signs deal with driverless car developer nuTonomy
nuTonomy, a developer of software for self-driving cars, and Grab, which claims to be Southeast Asia’s leading ride-hailing app, have entered a partnership to expand nuTonomy’s ongoing public trial of self-driving cars in Singapore, believed to be the first such public trial anywhere in the world.
The trial will give select Grab users a chance to experience the full end-to-end experience of e-hailing and riding in a nuTonomy self-driving vehicle.
Startup company nuTonomy has raised $16 million is initial funding and plans to offer world’s first fully autonomous taxi service in 2018.
nuTonomy, a developer of software for self-driving cars, says it has completed its $16m Series A funding led by Highland Capital Partners.
The funding included significant participation from prior investors Fontinalis Partners and Signal Ventures. In Singapore, where nuTonomy has strong governmental support, the round included participation from EDBI, the dedicated corporate investment arm of the Singapore Economic Development Board. Samsung Ventures also participated in the Series A round. Continue reading nuTonomy raises $16m funding to develop self-driving car software