International companies are flocking to Victoria, boosting startup and renewable energy sectors and driving jon growth.
SunGreenH2 builds high performance hardware and develops complementary technology that allows for on-site green hydrogen production for industry, transport, energy storage and power-to-X applications.
The company’s decision to scale up and move the next phase of commercialisation of its product from Singapore to Victoria was due to the support from the Labor Government, the state’s strong capabilities in R&D and a renowned talent pool of advanced manufacturing talent, an official press release said.
As an advanced manufacturer of clean energy technology, SunGreenH2 is continually innovating its products through research and development to create effiencies and solve problems.
SunGreenH2 adds to the growing list of companies choosing to invest in Victoria. The state has a record of attracting investors from Singapore and fostering startup growth to commercialisation. Recent investments from Singapore include Seventh Sense, Divigas, NCS and Oncoshot.
As investor interest from the region continues to grow, Invest Victoria on Tuesday will host the annual Partner Summit in Singapore, showcasing the breadth of opportunities that Victoria offers as an investment destination.
The enterprise value of Victoria’s startup ecosystem, including startups, scaleups and unicorns (companies valued at $1 billion), is $91 billion.
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