Singaporean startup company SunGreenH2 has established research and development (R&D) and manufacturing operations in Clayton, resulting in the creation of over 30 high-skilled jobs.
Minister for Trade and Investment Tim Pallas has today made the announcement. It follows Minister Pallas’ visit to Singapore in January.
“We’re making sure startups know Victoria is the best place to grow and take the next step on their journey, regardless of their origin,” Minister Pallas said.
“Our skilled workforce and innovation focus draws the brightest minds from around the world, and that grows local jobs and our tech expertise,” Minister Pallas added.
SunGreenH2 develops complementary technology and produces high-performance hardware to enable on-site green hydrogen generation for industry, transportation, energy storage, and power-to-X applications.
“Victoria has set world-leading emission reductions targets and investment in industries like renewable hydrogen will be key to reaching net zero by 2045 and creating thousands of renewable energy jobs,” Minister for Energy and Resources Lily D’Ambrosio said.
According to the Victorian Government, its support, the State’s strong skills in R&D, and a recognised talent pool of advanced manufacturing all contributed to the company’s decision to scale up and move the commercialisation of its product from Singapore to Victoria.
The State Government stated that SunGreenH2 is a leading manufacturer of sustainable energy technology that is always improving its products via research and development to increase efficiencies and address difficulties.
“Melbourne positions us to hire top talent and tap into the manufacturing ecosystem in Victoria and we are looking forward to successfully growing our investment as the market for renewable hydrogen expands in the future,” SunGreenH2 co-founder and CEO Tulika Raj said.
SunGreenH2 joins the increasing list of companies investing in Victoria. The Government added that the State has a track record of drawing Singaporean investors and supporting startup growth to commercialisation. Singapore has recently invested in Seventh Sense, Divigas, NCS, and Oncoshot.
As investor interest in the region grows, Invest Victoria will conduct its annual Partner Summit in Singapore on Tuesday, exhibiting the variety of options that Victoria has to offer as an investment destination.
Victoria’s startup ecosystem, which includes startups, scaleups, and unicorns (businesses valued at $1 billion), has an enterprise value of $91 billion.
