SEOUL, South Korea, Jan. 7, 2025 /PRNewswire/ -- Hithium is pleased to announce the signing of a new global partnership with Samsung C&T Engineering & Construction group, a leading construction company renowned for its engineering, procurement, and construction expertise in large-scale projects.
Going forward, Hithium and Samsung C&T will endeavor to work closely aiming to secure more opportunities for energy storage execution projects worldwide, with a project pipeline estimated to be around 10GWh in terms of the total BESS capacity.
By joining forces, Hithium aims to leverage its extensive experience in energy storage to provide Samsung C&T with comprehensive solutions, fostering a unified response to the expanding global energy storage market. Additionally, this partnership will streamline supply chain integration and facilitate resource sharing, thereby enhancing joint competitiveness in the global industry.
The partnership was formalized at Hithium headquarters in Xiamen, China, marking a significant milestone in the companies' collaborative efforts.
"We are excited to partner with Samsung C&T as we work together to address the evolving energy storage landscape," said Nazar Yi, Vice President of Hithium. "This collaboration will not only strengthen our capabilities but also accelerate the deployment of innovative energy solutions on a global scale."
About Hithium
Founded in 2019, Hithium is a leading manufacturer of top-quality stationary energy storage products for utility-scale as well as commercial and industrial applications. With four distinct R&D centers and multiple "intelligent" production facilities, Hithium's innovations include groundbreaking safety improvements to its lithium-ion batteries as well as increases in lifecycle. With decades of cumulative experience in the field among its founders and senior executives, Hithium leverages its specialization in BESS to deliver partners and customers unique advances in energy storage. The company is headquartered in Xiamen, China, with locations in Shenzhen, Chongqing, Munich, Dubai, New York, California and Dallas. To date, Hithium has shipped 50+ GWh of BESS products (cells, systems, and others), ranking as the Tier 1 BESS supplier and the top 5 global market share.
About Samsung C&T Corporation
Samsung C&T Corporation is a global leader in engineering, construction, trading, and investment, committed to creating sustainable solutions for a better future. Established in 1938 and headquartered in Seoul, South Korea, the company operates across diverse industries, including infrastructure development, renewable and nuclear energy and real estate. With an unwavering focus on innovation, quality and sustainability, Samsung C&T leverages its extensive expertise and global network to deliver transformative projects and solutions across 44 countries in 122 offices worldwide.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Hithium and Samsung C&T Corporation Forge Global Partnership
Comprehensive Payment Solutions are Set to Launch
SINGAPORE, Jan. 8, 2025 /PRNewswire/ -- XTransfer, the World's Leading & China's No.1 B2B Cross-Border Trade Payment Platform, was granted the Major Payment Institution (MPI) License under the Payment Services Act 2019 by the Monetary Authority of Singapore (MAS). This significant milestone strengthens XTransfer's leading position in the B2B cross-border payments industry. The license was officially issued on January 1, 2025, by MAS.
With the MPI license, XTransfer is able to provide services including account issuance, domestic money transfer, cross-border money transfer, and e-money issuance, addressing the increasing demand for secure and convenient cross-border payment solutions in the region. The comprehensive payment solutions are expected to be launched soon in Singapore. The services include easy account setup, flexible top-up options, efficient currency exchange services, and simplified cross-border fund collection and payment solutions designed specifically for small and medium-sized enterprises (SMEs) involved in international trade in Singapore.
Founded in 2017, XTransfer is dedicated to using technology to bridge large financial institutions and SMEs worldwide, providing them with secure, compliant, fast, convenient and low-cost cross-border trade payment & fund collection solutions. With more than 550,000 enterprise clients, XTransfer has become the industry leader in China. After XTransfer's global expansion, our All-in-one business account covers 15+ currencies and 200+ countries/regions, it is now utilised by trading companies around the world. When both buyers and sellers have XTransfer accounts, they can achieve secure and compliant payment settlements 24/7, potentially saving up to 95% on remittance fees and 80% on currency conversion costs. This enables uninterrupted fund circulation throughout the entire trade process.
In recent years, trade exchanges between China and ASEAN have become increasingly close. XTransfer aims to address this growth in international trade by SMEs and help them capture opportunities in trade and capital flow between China and ASEAN. XTransfer not only aims to enhance trade facilitation between SMEs in China and Singapore but also seeks to streamline foreign trade transactions between Singaporean companies and their global partners.
"Receiving this license from the Monetary Authority of Singapore marks a significant milestone for XTransfer as we expand our services throughout Southeast Asia. This achievement underscores our commitment to upholding the highest standards of regulatory compliance and reinforces our dedication to providing secure, compliant, convenient, and fast cross-border payment services," said Bill Deng, Founder and CEO of XTransfer. "With the license, we aim to leverage Singapore's prominent position as Southeast Asia's financial hub to strengthen both existing and new partnerships in the region. We remain committed to our goal of helping SMEs efficiently engage in global trade and enhance their competitiveness on a worldwide scale through technology."
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
XTransfer Officially Receives MPI License from the Monetary Authority of Singapore
