Singapore/Manila, 21 August 2023 – Neuto Pte Ltd (”Neuto”), a company focusing on renewable energy including the groundbreaking wave-to-energy, Oscillating Water Column (OWC) technology, and First Energio Philippines Inc (“First Energio”), an advocate for sustainable energy infrastructure, are thrilled to announce their innovative partnership. Through signing of a Memorandum of Understanding and a Collaboration Agreement, the two companies aim to harness the boundless potential of wave and solar energy in the Province of Isabela and other potential areas in the Philippines.
The Oscillating Water Column (OWC) technology is an advanced renewable energy system that captures the power of ocean waves. Utilizing a specialized chamber, the rise and fall of waves cause water columns inside to oscillate. This oscillating movement drives air, which in turn activates turbines linked to generators, converting the kinetic energy of waves into electricity.
Memorandum of understanding (MOU)
The signing of the MOUs cements the commitment between Neuto and First Energio Philippines Inc to jointly develop and implement wave-to-energy projects utilizing OWC technology. The ultimate goal is to establish a reliable and sustainable electricity supply for Isabela and potentially extend this green initiative to other suitable locations within the Philippines.
Collaboration Agreement:
The MOU between the two companies is poised to explore the feasibility of creating an eco-conscious electricity supply chain tailored to power the fleet of electric buses operated by Global Electric Transport (GET), an affiliate of First Energio Philippines Inc. Through a combination of Solar PV Energy generation and advanced battery storage systems, and the charging stations, Neuto and First Energio aim to empower GET’s electric bus fleet, contributing to a cleaner and more efficient urban transportation ecosystem. This visionary collaboration strives to address pollution, congestion, and infrastructure challenges prevalent in the Philippines, particularly in the bustling city of Manila.
Speaking on the significance of these partnerships, Andy Low, Founder and CEO of Neuto Pte Ltd, emphasized, “We are excited to join forces with First Energio to drive the transition towards a more sustainable future. The signing of the MOU and Collaboration Agreements mark the beginning of a transformative journey, where cutting-edge technologies converge with a shared commitment to enriching local communities, fostering economic growth, and creating new avenues for employment.”
Percival Mariano, President of First Energio, shared the sentiment, stating, “Our collaboration with Neuto Pte Ltd aligns seamlessly with our mission to redefine the energy landscape of Isabela and beyond. By amalgamating groundbreaking innovations like OWC technology and solar power with our vision for a cleaner, more resilient energy infrastructure, we are confident in our ability to create lasting positive impacts on the communities we serve.”
Through these strategic alliances, Neuto Pte Ltd and First Energio Philippines Inc are poised to reshape the future of sustainable energy in the Philippines, setting a precedent for environmentally conscious technology integration and fostering a greener, more prosperous tomorrow.