Singapore-based consultancy firm, Asia Pacific Energy Ventures Pte. Ltd., (APEV) has reportedly announced that it will carve out its subsidiary Twenty20 Energy Systems, and that its plans on making it publicly listed on Nasdaq in the second quarter of this year.
Twenty20 Energy was formed as a subsidiary of APEV in 2014 and specializes in clean and innovative energy technology solutions with cost-effective and sustainable power for remote and coastal communities having a minimal environmental impact.
Geoff Lawrence, who has served as the CEO of APEV previously, has been appointed as the CEO of Twenty20Energy and will be tasked with the process of its public listing.
Meanwhile, Steve Newman has been appointed as the CEO of Asia Pacific Energy Ventures.
Lawrence stated that Twenty20 Energy’s pursuit of global power generation projects comes at a time when many developing countries are looking to harmonize their economic growth with minimal environmental impact.
He added that the energy consultancy firm aims to assist customers in liberating themselves from energy approaches that are inefficient and environmentally unstable, with a focus on coastal and remote communities worldwide that depend on coal and diesel fuel for power generation.
Since it was founded, Twenty20 Energy’s management has delivered 16 successful and nationally significant energy and construction projects in Papua New Guinea, its primary focus area, and has also established two revenue streams- EPC project work, and long-term operations and maintenance contracts.
APEV and its Papua New Guinea-based subsidiary, Pacific Energy Consulting (PEC), will continue being the construction and contracting services execution partner of Twenty20 Energy for its projects there.
Asia Pacific Energy Ventures will also continue serving Papua New Guinea’s corporate and government institutions in upcoming construction and infrastructure projects while providing maintenance and service to existing buildings and assets.
Twenty20 Energy is known for its proprietary ‘Power Island’, located in Papua New Guinea, which is a Floating Regasification & Power solution that provides both near- and long-term electrification and energy needs of the island country. The technology will be available to global coastal and archipelago communities as well.
