Unlike regular real estate consultancy firm in the property market, Laurelcap Group has marked a significant move in its market positioning strategy by going into the Green Technology sector providing energy storage solutions. 

Laurelcap Renewable Energy, headed by its COO, Alan Poon had entered into a collaboration partnership with Magic Power Tech Pte Ltd, a business-to-consumer arm of Zhifang Group, the largest private-owned designing institute in China on power engineering, with strong technical strength in the field of energy transmission and distribution having presence in more than 30 countries worldwide. Zhifang is also the cofounder of the largest research and innovation center in energy storage in Shanghai, China. 

The signing ceremony took place earlier in June 2023 at Magic Power Tech office in Shanghai witnessed by Laurelcap Group Managing Director, Mr Tan San Yew and Zhifang Group Director, Mr Yang in the presence of distinguish guests from Malaysia Investment Development Authority (MIDA), local Government Agencies, Business Chambers, distinguished corporate figures and prominent businessmen. 

The collaboration sees the appointment of Laurelcap Renewable Energy as the sole importer and exclusive distributor for Magic Power Tech portable power storage system in Malaysia as both parties also are looking into the distribution of Electric Vehicle charging technology which is already in the pipeline. 

Yang, in his speech, expressed his delight in the collaboration as Malaysia could be a springboard for Magic Power Tech into the ASEAN market as the leading provider of photovoltaic and energy storage solutions. Zhifang record of good performance in the field of power engineering is undisputed having undertaken the engineering design, construction, operation and maintenance of the 1st photovoltaic project in Shanghai subway industry as well as the completion of design for the entire factory substation of Tesla Giga Factory, Shanghai just to name a few. In 2022, Zhifang achieved a significant breakthrough of 1000kV Ultra High Voltage for the power transmission line project of Nanjing-Huai’an Intercity Railway, the highest voltage level in electrical construction in the world.

“The setting up of Centre Of Decarbonization Emissions, Renewable Energy Division (CoDE RED) for the electrification of built environment and green mobility, is a step in the right direction for a cleaner future”, said Tan. Having been a full-fledged international real estate consultancy service provider since 2008, Laurelcap is an advocate for innovative solutions to champion long term efforts in line with ESG principles and United Nation Sustainable Development Goals.