UK Microturbine manufacturer Bowman Power Limited announced Wednesday a “major” investment and collaboration agreement in the Asia Pacific with the Singapore Power Group.
The agreement, which includes marketing collaboration as well as equity investment, follows Bowman’s first steps into Asia earlier this year, when it launched into the Japanese market through a joint venture with Kubota, Mitsui and NTT-F.
Bowman would not release any financial details of the transaction but a spokesperson did indicate that Singapore Power’s involvement was in the form of an “investment and distribution deal”.
Singapore Power’s venture capital arm, SP Capital Limited has made an equity investment in Bowman Power as well as an agreement with Singapore Power will which covers the distribution of Bowman products, through Singapore Power’s subsidiary, Development Resources Pte Ltd (DRPL). Bowman hope that the DRPL will help it reach out to markets across the Asia-Pacific region, including Australia and New Zealand, but excluding Japan.
David Streather, Marketing and Sales Director at Bowman Power said the investment and signing of a distribution agreement with Singapore Power, underlines Bowman’s position at the forefront of product development in the microturbine power generation marketplace.
“The agreement opens up exciting opportunities for on-site generation and offers a further springboard across the Asia-Pacific region for our products.”
Ang Koh Seng, Managing Director of DRPL said, “Singapore Power’s decision to invest in Bowman Power reflects our interest in building close relationships with companies which have the potential to add considerable value to our businesses. Added to this, is our confidence in the opportunities which are opening up for greater technical collaboration and possibly, some product integration between Bowman and SP Systems, Singapore Power’s subsidiary focusing on power quality technologies and solutions for commercial and industrial applications.”
Bowman Power develops small-scale compact power generation systems ranging from 25 kWe to 80 kWe, for distributed power generation and for mobile power applications. It is focussed on supplying Combined Heat and Power Systems (CHP) where the exhaust heat is recovered to provide hot water or air conditioning when coupled with an absorption chiller.