French energy equipment supplier Schneider Electric has signed a memorandum of understanding with Singapore’s Economic Development Board (EDB) to create four new Singapore-based companies.
Schneider Electric will commit at least S$16m ($11.8m) over the next four years to incubate and develop up to four new companies that seek to address global climate change through energy-as-a-service, energy storage, electromobility, efficient heating, ventilation and cooling, and smart buildings.
Schneider Electric will provide them with market access and previously worked with EDB to launch Energy Generation Program-X, which is a management trainee program for graduates of Nanyang Technological University as well as the National University of Singapore.
