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MEMORANDUM OF UNDERSTANDING CITAGLOBAL BERHAD ("CITAGLOBAL" OR "THE COMPANY") - MEMORANDUM OF UNDERSTANDING BETWEEN CITAGLOBAL AND PETRONAS GLOBAL TECHNICAL SOLUTIONS SDN BHD ("PGTSSB")

CITAGLOBAL BERHAD

Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description
CITAGLOBAL BERHAD ("CITAGLOBAL" OR "THE COMPANY") - MEMORANDUM OF UNDERSTANDING BETWEEN CITAGLOBAL AND PETRONAS GLOBAL TECHNICAL SOLUTIONS SDN BHD ("PGTSSB")

Further to the Company's announcements made on 28 June 2023, 29 September 2023 and 29 December 2023, the Board of Directors of CITAGLOBAL wishes to inform the Parties are still in active discussion towards joint collaboration agreement or its equivalent especially in the area of deployment of Citaglobal’s Gen2 MYBESS (Generation 2 Battery Energy Storage System) at various Petronas’s upstream, midstream and downstream business environment such as production platforms, processing plant and retail stations and outlets.  At utility scale level, Citaglobal and PGTSSB are currently working on grid forming pilot, showcasing MYBESS on microgrid environments in Terengganu.

For information, Citaglobal Genetec BESS Sdn Bhd, the 50:50 joint venture for Citaglobal and Genetec Technology Bhd for MYBESS has submitted its MYBESS Sales / Quotations Proposal to PGTSSB on 20 January 2024 relating to Centre of Excellence for OffShore Renewable Energy (CEFORE) to supply of MYBESS battery energy storage system for storing energy for CEFORE. The said submission is pending decision from PGTSSB.

This announcement is dated 29 March 2024.






Announcement Info

Company Name CITAGLOBAL BERHAD
Stock Name CITAGLB
Date Announced 29 Mar 2024
Category General Announcement for PLC
Reference Number GA1-29032024-00079



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