MediSun Energy Pte Ltd, a Singapore based company specializing in advanced osmotic (blue) energy technology, has successfully secured US$8.75 million (RM39.1 million) in funding and established a strategic partnership with Southeast Asian venture capital firm Vynn Capital Sdn Bhd. The funding consists of US$5 million (RM22.34 million) in venture debt and US$3.75 million in equity financing, bringing the company’s valuation to US$44 million.
[RM1 = US$0.224]
In a joint statement, the parties said this marks one of the significant investments from Vynn Capital’s Mobility and Supply Chain fund, backed by several Malaysian institutional investors and other regional limited partners.
The funding round, led by Vynn Capital, attracted several new investors, including MOAJ Holding, a leading Saudi investment company; Frank Phuan; TNB Aura, a Singapore-based venture capital firm participating through its Scout Initiative; and Ciri Ventures, a climate tech-focused venture capital firm. On top of this, MOAJ Holding has also committed to investing up to US$30 million into Medisun’s Saudi Arabia business to form a local joint venture.
The partnership aims to accelerate MediSun’s expansion into the MENA region and further enhance its research and development capabilities. MediSun plans to establish two facilities: one dedicated to membrane production and the other for stack production.
Dusun Kim, Founder & CEO of MediSun, stated: “At MediSun, we are dedicated to making the planet greener and better. Our zero-brine technology not only provides clean and green energy but also contributes to a more sustainable future. This partnership with Vynn Capital is a major milestone that will enable us to scale our operations and bring our innovative solutions to new markets. We are committed to leveraging this opportunity to further our mission of addressing the critical environmental challenges.
MediSun Energy raises US$8.75 mil seed round with Vynn Capital
