Rectitude Announces Supply Relationship for Innovative New Energy Solutions in Southeast Asia
SINGAPORE, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Rectitude Holdings Ltd. (NASDAQ:RECT, the "Company" or "Rectitude")), a Singapore-based provider of safety equipment and related industrial products, today announced it has entered into a memorandum of understanding (MOU) with Nanjing Starship Intelligent Storage Technology Co. to provide its All-in-one Intelligence Micro-grid System ("AIMS" or "AST-05"), a next-generation energy storage solution with the potential to transform how industries manage power.
As part of the Company's ASTRIA Series, the AIMS is an all-in-one energy storage solution designed to manage power from multiple sources, including renewable energy and diesel generators, for both on-grid and off-grid applications. It features intelligent energy management, dual charging circuits, and remote monitoring to optimize energy use. The new product's key benefits include zero-emission operation when integrated with renewable sources, substantial cost savings through reduced fuel consumption, scalability to meet various energy needs, and reliable, long-lasting performance. Ideal for industries such as construction, mining, and rural electrification, the AIMS delivers efficient, flexible, and sustainable power solutions.
"This partnership with Nanjing Starship serves as a milestone in our long-term strategic goals to provide innovative solutions to enhance workplace safety. As we continue to innovate in our field, we are focused on providing the highest quality products to our partners and customers. The micro-grid system is transforming energy management by offering scalable, flexible, and efficient power solutions," said Jian Zhang, Chairman, Chief Executive Officer, and Executive Director at Rectitude. "This innovation sets a new benchmark in energy storage, providing potential revenue growth, expanding product range, and ultimately strengthening our leading position in the industry. We are excited to be partnering with such a high-profile company, and believe this is just the starting point of what is to come in the future."
As companies work to reduce carbon footprints and energy costs, Rectitude is leading the transition to power electric equipment at job sites in diverse locations. The AIMS enables businesses to shift from emission-heavy generators to renewable energy, advancing energy management and driving industries toward a sustainable future.
About Rectitude
Founded in 1997 in Singapore, Rectitude is principally involved in the provision of safety equipment, encompassing essential items such as personal protective clothing, gloves, safety footwear, personal fall arrest systems, portable fire extinguishers and traffic products. The Company also offers auxiliary products such as industrial hardware tools and electrical hardware required for construction sites. Rectitude's products and solutions are marketed to a wide array of distributor networks and end markets, both in Singapore and increasingly throughout the Southeast Asian region, including Brunei, Cambodia, Malaysia, Indonesia, and Vietnam.
For more information, please visit the Company's website: https://ir.rectitude.com.sg
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.
For investor and media inquiries, please contact:
Rectitude
Investor Relations
Email: [email protected]
Jackson Lin
Lambert Global
Phone: +1 (646) 717-4593
Email: [email protected]
