SINGAPORE, Nov. 25, 2024 /PRNewswire/ -- MediSun Energy, a company specializing in advanced osmotic (blue) energy technology, has successfully secured US$8.75 million in Seed financing round and established a strategic partnership with Southeast Asian venture capital firm Vynn Capital. The funding consists of US$5 million in venture debt and US$3.75 million in equity financing, bringing the company's valuation to US$44 million.
In a joint statement, the parties said this marks one of the significant investments from Vynn Capital's Mobility and Supply Chain fund, backed by a number of Malaysian institutional investors and other regional limited partners.
The funding round, led by Vynn Capital, attracted several new investors, including MOAJ Holding, a leading Saudi investment company; Frank Phuan; TNB Aura, a Singapore-based venture capital firm participating through its Scout Initiative; and Ciri Ventures, a climate tech-focused venture capital firm. On top of this, MOAJ Holding Co. has also committed to investing up to US$30 million into Medisun's Saudi Arabia business to form a local joint venture.
The parties highlighted that this partnership aims to accelerate MediSun's expansion into the MENA region and further enhance its research and development capabilities. MediSun plans to establish two facilities: one dedicated to membrane production and the other for stack production.
Dusun Kim, Founder & CEO of MediSun, stated: "At MediSun, we are dedicated to making the planet greener and better. Our zero-brine technology not only provides clean and green energy but also contributes to a more sustainable future. This partnership with Vynn Capital is a major milestone that will enable us to scale our operations and bring our innovative solutions to new markets. We are committed to leveraging this opportunity to further our mission of addressing the critical environmental challenges."
Victor Chua, Founding & Managing Partner of Vynn Capital, added: "MediSun's solutions are crucial in solving water supply chain and scarcity issues while achieving net-zero carbon goals by reducing energy consumption. Over the medium term, we believe such technology can also be crucial for other industries, such as mobility and industrial sectors, that require innovation in energy management. This is especially important with the narrative of Malaysia and Southeast Asia playing a larger role in the renewable energy sector. Our investment in MediSun reflects our belief in the team's vision and our commitment to supporting groundbreaking technologies that have a positive impact on the environment and society."
In addition to supporting MediSun's growth, Vynn Capital is actively exploring other opportunities and startups in key markets such as Singapore, Thailand, and Indonesia. With Southeast Asia's water technology market expected to grow significantly, this partnership positions both companies at the forefront of innovation and sustainability in the region.
About MediSun Energy
MediSun Energy is a technology-driven company dedicated to advancing clean and efficient energy solutions. Our innovative WEGen technology utilises osmotic power to enhance energy efficiency in water desalination and to generate renewable energy. Committed to a net-carbon neutral future, we strive to deliver practical, sustainable solutions that align with our vision of a world powered by clean and green energy.
About Vynn Capital
Vynn Capital is an industry focused early-stage venture capital firm founded with the objective of bridging the gap between traditional industries and the new economies through the development of technology. Vynn's investment philosophy revolves around the creation of synergistic value between portfolio companies and companies within the firm's ecosystem.
For more information, visit www.medisun.energy or write to info@medisun.energy. You can also follow MediSun on LinkedIn.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
MediSun Energy Raises $8.75M Seed Round with Vynn Capital to Drive MENA Expansion and Advance Osmotic Energy Innovation
MediSun Energy Raises $8.75M Seed Round with Vynn Capital to Drive MENA Expansion and Advance Osmotic Energy Innovation
SHANGHAI, Nov. 25, 2024 /PRNewswire/ -- As 2024 draws to a close, we ushered in Malaysia's grand packaging industry event - WEPACK ASEAN 2024, which has concluded successfully amid accolades, marked by advanced equipment demonstrations with widespread acclaim, successful order contract signings in enthusiastic exchanges, and a series of exciting events that heralded crowds of attendees.
Continuing its tradition, the exhibition was held at the Malaysia International Trade and Exhibition Centre in Kuala Lumpur, which was packed with 3,029 trade visitors during its run from November 14 to 16.
As a gala event in Southeast Asia's packaging industry, WEPACK ASEAN 2024 occupied 8,000 square meters of exhibition area, and attracted over 120 quality exhibitors from Southeast Asia and beyond to the Malaysia International Trade and Exhibition Centre in Kuala Lumpur, showcasing innovative packaging industry technologies and news products. Once again targeting the Southeast Asian packaging industrial chain, it focused on crafting an extraordinary event that offers a wide variety of activities such as exhibitions, forums, matchmaking events, and visits to well-known enterprises, and provided a platform for in-depth exchanges and interactions among practitioners in the Southeast Asian packaging sector.
Six major themed exhibitions with exhibits covering the upstream and downstream industry
WEPACK ASEAN 2024 featured six themed exhibitions on site: Corrugated ASEAN, FoldingCarton ASEAN, Dprint ASEAN, Paper ASEAN, Packaging Containers Expo ASEAN and Food Pack & Tech ASEAN.
Among them, Packaging Containers Expo ASEAN and Food Pack & Tech ASEAN, newly added to this year's exhibition as complements of the downstream packaging industrial chain (packaging products and finished packaging products), mobilized the participation of more buyers of carton and folding carton production equipment, led more brand-owning enterprises to the exhibition site, and also facilitated efficient communication between industrial chain enterprises on site.
Overseas associations and major manufacturers attended in groups
WEPACK ASEAN 2024 received strong support from numerous overseas specialized associations, such as Malaysian Corrugated Carton Manufacturers' Association (MACCMA), Malaysia Printing Association (MPA) and Corrugated Box Manufacturers' Association (CBMA), who flocked to the exhibition in groups, along with major international manufacturers from Malaysia and neighboring countries.
Onsite exhibition booths packed with big shots
A large-scale packaging exhibition in Southeast Asia, the WEPACK ASEAN 2024, along with its six shows, brought together over 120 quality packaging industrial chain suppliers, such as ANS Apollo, ECOSURE PULPMOLDING TECHNOLOGIES LIMITED, SANSIN PRIMA(M) SDN BHD, Valco Melton Malaysia SDN BHD, Inktone Packaging Solutions., CENTURY, OPS, CORRUGMA, BORREGAARD, ASIA NMA, VALCO, BONGDING, INKTONE, HAW LIIHY, Dongfang Precision, Wanlian Precision, KL Group, Shanghai Dinglong, Qingdao Kaituo, Bystar, Guangdong Toprint, Zhuhai Kaixin Technology, Guangdong Xiaohua Packaging, XT Pack, ZHEJIANG YONGHUI CORRUGATED ROLLER, Zhejiang Yongshun Machinery, LI SHENQ Machinery, Dongguan Runcai Intelligent Printing Equipment Co., Ltd., Guangzhou Kingtau Electromechanical Equipment, WUHAN CHUCAI Digital Technology, Guojin, Xintian, Ketai, IKE, BBIAO, Xiangxu, Meijia, Hongyuan, Qinshanmei, Worldwide, Zhongqian, Insley, Dayu, Huilong, Bofa, Rizhi, Hongbo, Heneng, Guanyu, Chenguang, ZHAOLI, Kunhou, Chumbro, Ipack, Tang Cheng Seiko, ANYPACK, Fengming, Yinzhi, Yinbao Guangya, Haida, JINGKE, Jinbing, Qianjin Baoluo, Ruichang, Dongbao, Haojie, Xunxu, Jialifu, Intco, Hongsheng, Yinengjie, Fengwei, Kemao, DAXIANG, Honghai, Lifei, Fuqi, Zeshengda, Huijie, Mingyi, Saw Paper King, Hade, Hangzhou Tingzheng Packing Material, THINKGO IOT, Hangzhou Hesheng Plastic Products, Kunshan Fanhong Surface Treatment, Wuxi Yinghong Laser, and Zhuhai Letong New Materials.
VIP guests visited for joint consultation and contribution
During the exhibitions, senior executives from multiple subsidiaries of the Oji Group came to site to visit and explore new technologies and products while engaging in collaborative discussions with industry peers.
Demand matchmaking resulted in multiple order contract signings
Apart from various supplier booths and conference areas, the exhibition's organizer has also set up a TAP buyer matchmaking area on site to provide present trade visitors with buyer matchmaking service, as well as happy moment areas, visitor lounges, and VIP lounges for onsite visitors' activities and recreation. Numerous onsite visitors have quickly identified suppliers meeting their purchase needs through TAP, according to TAP match-making specialists.
Conferences with various attendees boosted exhibition impact
The WEPACK ASEAN Conference, co-organized by the MACCMA and RX, was officially launched in the exhibition site conference area. The conference pooled together multiple parties such as key industry associations, carton color printing enterprises, industry experts and equipment suppliers from 10 Asian countries in a bid to analyze changes in the carton packaging industry with industry peers, gain insights into global industry trends, and communicate the latest industry technologies and achievements.
On the evening of November 14, MACCMA, an important partner of WEPACK ASEAN, hosted its grand 33rd anniversary dinner, which ushered in a number of distinguished guests from the Southeast Asian packaging industry, including senior leaders from RX and chairman of MACCMA.
WEPACK ASEAN 2024 successfully attracted packaging industry experts and scholars from across Southeast Asia and beyond, featuring a strong business atmosphere and spirit of innovation. Amid enthusiastic interactions and discussions among enterprise representatives, industry experts, and scholars, the WEPACK ASEAN 2024 concluded perfectly!
Looking ahead, at WEPACK 2025 (April 8-10, 2025, Shanghai New International Expo Center) and WEPACK ASEAN 2025, we look forward to seeing you again to jointly witness and drive the prosperity of the packaging industry.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
Forging Ahead Together for Greater Heights｜WEPACK ASEAN 2024 Concludes Successfully
