Rectitude Holdings Announces Initial Contract for AIMS System Rental in Singapore
SINGAPORE, April 15, 2025 (GLOBE NEWSWIRE) -- Rectitude Holdings Ltd. (NASDAQ:RECT, the "Company" or "Rectitude")), a Singapore-based provider of safety equipment and related industrial products, announces the award of its first sub-contract from China Construction (South Pacific) Development Co. Pte. Ltd. ("CCDC") for the rental of its cutting-edge battery energy storage system for several projects being undertaken in Singapore. Under the rental agreement, Rectitude will supply clean power to tower cranes, passenger hoists, and other construction equipment across projects throughout Singapore through April 2026.
The sub-contract covers projects under CCDC and its subsidiaries, including Rich Construction Company Pte Ltd, China Construction Realty Co. Pte Ltd, and Kaszon Pte Ltd. The awarded contract includes the provision of Rectitude's proprietary AIMS systems for energy storage and delivery.
Marking a key milestone, Rectitude has deployed its first 500kWh AIMS system under this contract, showcasing the Company's commitment to driving innovation and sustainability in key end markets. The AIMS system is designed for high-efficiency energy management and zero-emission power supply. This agreement follows the Company's initial deliveries of systems sold to customers in Singapore in February 2025. The Company is planning to grow this business segment through sales and rental of the systems along with related services.
"This contract win and the deployment of our 500kWh AIMS system represents a major step forward for Rectitude and the commercialization of the energy storage sector in Singapore. We are continuing to act on our long term strategic plan to generate sustainable growth for the Company," said Jian Zhang, Chairman, Chief Executive Officer, and Executive Director at Rectitude. "We are honored to support China Construction with advanced, clean energy solutions that enhance operational efficiency while reducing carbon emissions, while establishing our first rental agreement for AIMS."
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]
Zachary Mizener
Lambert by LLYC
Phone: +1 (313) 309-9514
Email: [email protected]
Jackson Lin
Lambert by LLYC
Phone: +1 (646) 717-4593
Email: [email protected]
