EDBI invests $5m in Enlightened Inc for Singapore, Asia expansion

Singapore subsidiary has been created.

Enlighted Inc. has announced a strategic partnership with Singapore-headquartered investment firm EDBI to bring its advanced energy efficiency solutions to Singapore and other Asian markets.

Enlighted has created a subsidiary that will concentrate on customers in Singapore, Global 1000 customers with operations in the country, and eventually enterprises in the region. EDBI will also invest $5 million into Enlighted to help scale its global operations, including this new initiative in Singapore.

Situated on the equator and lacking natural resources, Singapore has implemented aggressive energy efficiency initiatives over the last several years, said bothe companies. They also cited how in a recent U.S. Energy Information Administration (EIA) study of the Singapore Electric Market Authority, the EIA found that natural gas fuels almost 80 percent of Singapore's electricity generation. Estimates show the building and manufacturing industries account for more than 80 percent of the country's total energy usage.

"Enlighted's Singapore operations are perfectly positioned to ride Asia's rapid urbanization wave, and leverage EDBI's extensive networks to propel its regional growth," said Ms. Swee-Yeok CHU, President & CEO of EDBI, "Their presence dovetails into Singapore's Smart Sustainability City plans, and enhances the development of urban energy efficiency solutions, such as, real-time demand response and occupancy management."

"Due to the high cost of electricity in Singapore there is an excellent opportunity for Enlighted solutions to play a key role in helping Singapore-based companies dramatically reduce energy costs," stated Tushar Dave, CEO of Enlighted. "Our solutions, which are easy to install and integrate with both existing and future building systems, will enable commercial building owners and operators to fine tune both operations and energy efficiencies across their building or their entire real estate footprint."