News

Energy & Offshore

Staff Reporter

, Singapore

Published:

6 months ago

Photo by Nicholas Doherty from Unsplash

Mooreast boosts Northeast Asia presence with new Taiwan office

The new office will aid Taiwan's shift to floating wind farms.

SGX-listed Mooreast opened a sales office in Taiwan to expand mooring solutions in Northeast Asia's floating renewable energy sector.

Mooreast aims to support Taiwan's wind development with diverse products, services, and solutions for floating wind farms.

In collaboration with regional partners, Mooreast will provide engineering, procurement, construction, and installation services for floating energy projects.

As part of its expansion, Mooreast plans to acquire a 1.1 million sq ft facility from a Seatrium unit, quadrupling its production capacity in Singapore. Additionally, Mooreast signed a non-binding term sheet for a $20.01m convertible loan from SG-RT FUND, managed by N PrimePartners Capital.

Mooreast will use the funds as working capital for FY2024 and to support its expansion and growth strategies, aiming to boost the company’s global mooring supply chain.

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