Asia Pacific Energy Ventures Announces Carve Out of Subsidiary Twenty20 Energy Systems
Twenty20 Energy To Become An International Power Generation Group, Offering Reliable, Cost-Effective and Sustainable Solutions; Public Offering Planned for Q2, 2022
SINGAPORE–(BUSINESS WIRE)–Asia Pacific Energy Ventures Pte. (APEV) announced today that it will carve out subsidiary Twenty20 Energy Systems with plans to take it public on the Nasdaq in the second quarter of 2022.
Singapore-based Twenty20 Energy was formed in 2014 as a subsidiary to APEV, and has emerged as a leading engineering, procurement and construction (EPC), and operations and maintenance (O&M) service provider. The company specializes in providing innovative energy technology solutions to remote and coastal communities with reliable, cost-effective and sustainable power in ways that minimize environmental impact.
Geoff Lawrence, previously the CEO of APEV, has been named CEO of Twenty20 Energy, responsible for pursuit of its public listing. Steve Newman was named CEO at Asia Pacific Energy Ventures.
“Twenty20 Energy, as an energy-focused group, is poised to pursue power generation projects globally at a time when many developing nations are seeking to harmonize accelerated economic growth with minimized environmental impact,” said Lawrence. “Twenty20 is poised to help our customers liberate themselves from inefficient and environmentally unstable energy approaches and to open up new avenues for growth in many emerging markets. In particular, we are committed to freeing coastal and remote communities around the world from dependence on coal and diesel fuel as they move toward more efficient, environmentally friendly power generation solutions that will improve their economic, social and environmental health.”
Recognizing the demand for reliable power generation in developing countries, APEV realized those needs could best be served by a company devoted solely to meeting that demand. With a focus on clean-energy solutions, Twenty20 Energy has four priorities:
- To be a leading engineering, procurement and construction (EPC) company and service provider in the energy sector
- To build, own and operate a portfolio of environmentally conscious energy assets on a global basis
- To deploy its proprietary “Power Island” FSRP to meet the evolving energy needs of coastal and remote communities both in Papua New Guinea and around the world
- To leverage innovative technologies to deliver tailored solutions that reduce or eliminate the carbon impact of power generation for its own projects and those of its clients.
Since 2014, Twenty20 Energy’s management has focused on Papua New Guinea, where it has successfully delivered 16 nationally significant energy and construction projects. During this period, the company established two reliable revenue streams: EPC project work and long-term operations and maintenance contracts.
Twenty20 Energy is now poised to take advantage of the increasing economic development, urbanization and growing demand for electricity in the wider Asia Pacific region and around the world. It has a strong pipeline of power generation projects in Papua New Guinea and internationally that is set to deliver strong, continued earnings growth. Evolving revenues will be bolstered by additional project opportunities that offer both initial EPC revenues as well as long tail returns from both long-term O&M contracts and project ownership.
Twenty20 Energy will provide an economic boost to underserved remote and coastal communities by turning power into progress. In addition to enabling sustainable economic growth, Twenty20 Energy brings significant benefits from a social and environmental perspective. It prides itself on being a socially responsible employer that engages a local workforce to ensure all economic benefits are realized in the communities it serves.
Twenty20’s assets include light industrial vehicles and equipment, gas supply valve and piping assets, a power operations base in Papua New Guinea, and a proprietary “Power Island” Floating Storage Regasification & Power (FSRP) solution that is set to provide near- and long-term energy and electrification needs of Papua New Guinea, and will be applicable to archipelago and coastal communities around the world. The Power Island FSRP represents the innovative approach Twenty20 brings to “energy-challenged” environments.
Asia Pacific Energy Ventures, along with its PNG subsidiary Pacific Energy Consulting (PEC), will continue to be a construction and contracting services execution partner for Twenty20 Energy on its Papua New Guinea projects. APEV will also continue to serve PNG’s leading corporate and government institutions across new construction and infrastructure projects, and will provide ongoing service and maintenance of existing buildings and assets. PEC has a dedicated team of national and expatriate staff and established in-country operations including offices and warehousing, civil works and construction equipment, and a full fleet of service vehicles.
About Twenty20 Energy
Twenty20 Energy is a leading EPC and operations and maintenance provider focused solely on the energy sector – leading the transition toward low carbon energy. It specializes in providing innovative energy technology solutions to remote and coastal communities with reliable, cost-effective and sustainable power that minimizes environmental impact. Twenty20 is poised to take advantage of the increasing economic development, urbanization and increasing demand for electricity in the wider Asia Pacific region and around the world.
About Asia Pacific Energy Ventures
Asia-Pacific Energy Ventures specializes in consulting, construction and contracting, with a focus on commercial, industrial and residential buildings, property development, infrastructure and power projects. With a dedicated team and established operations, APEV has proven capability and an exemplary track record of working closely with clients to identify and deliver solutions that support its operational objectives and major project mandates. APEV’s integrated services allow clients to work with one trusted partner on the full scope of any project. This can include initial solution development, engineering and design, project execution planning, civil and structural works, electrical, fire protection, plumbing and HVAC services installation, and ongoing service and maintenance. In all cases, APEV is committed to quality of work and client satisfaction, while being a driving force in the advancement of Papua New Guinea and the broader Asia-Pacific region.
Contacts
Bob Zeitlinger / Makovsky
bzeitlinger@makovsky.com / 551 427 7298
