Coro Energy teams with Threefold Energy on rooftop solar systems
Coro Energy PLC on Thursday reported a partnership with energy technology company, Threefold Energy Group Ltd, as the pair look to explore opportunities in South East Asian markets.
The South East Asian energy company with a natural gas and clean energy portfolio said it has inked a memorandum of understanding with Threefold on advanced battery storage energy management.
Threefold is centred on the deployment of battery energy storage systems hardware. It is focused on markets in the UK, Europe and South East Asia.
Under the terms of the memorandum, the pair are set to explore opportunities within Vietnam, alongside other markets in South East Asia.
In particular, they seek to assess the potential to increase the commercial benefits and performance of rooftop solar systems to commercial and industrial customers, in combination with Threefold’s energy platform.
Shares in Coro Energy rose 3.0% to 0.85 pence on Thursday afternoon in London.
‘We are pleased to be partnering with a well-funded company backed by Tier 1 industry partners that has a track record of developing market-leading energy management and storage solutions,’ said Tom Richardson, chair of Coro Energy.
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