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Floating “Power Island” - Twenty20 Energy Systems' IPO Planned for 2Q

February 14, 2022

 “Power Island” - ©Twenty20 Energy Systems'
“Power Island” - ©Twenty20 Energy Systems'

Asia Pacific Energy Ventures said Monday it would carve out subsidiary Twenty20 Energy Systems with plans to take it public on the Nasdaq in the second quarter of 2022.

Based in Singapore, Twenty20 Energy was formed in 2014 as a subsidiary of APEV. The company specializes in engineering, procurement, and construction (EPC) for power supply solutions for remote and coastal communities and has a proprietary “Power Island” Floating Storage Regasification & Power (FSRP) solution.

Geoff Lawrence, previously the CEO of APEV, has been named CEO of Twenty20 Energy, responsible for pursuit of its public listing. Steve Newman was named CEO at Asia Pacific Energy Ventures.

“Twenty20 Energy, as an energy-focused group, is poised to pursue power generation projects globally at a time when many developing nations are seeking to harmonize accelerated economic growth with minimized environmental impact,” said Lawrence. “Twenty20 is poised to help our customers liberate themselves from inefficient and environmentally unstable energy approaches and to open up new avenues for growth in many emerging markets. 

"In particular, we are committed to freeing coastal and remote communities around the world from dependence on coal and diesel fuel as they move toward more efficient, environmentally friendly power generation solutions that will improve their economic, social and environmental health.”

Recognizing the demand for reliable power generation in developing countries, APEV realized those needs could best be served by a company devoted solely to meeting that demand, APEV said.

APEV said that, with a focus on clean-energy solutions, Twenty20 Energy has four priorities: To be a leading engineering, procurement and construction (EPC) company and service provider in the energy sector; To build, own and operate a portfolio of environmentally conscious energy assets on a global basis; To deploy its proprietary “Power Island” FSRP to meet the evolving energy needs of coastal and remote communities both in Papua New Guinea and around the world; To leverage innovative technologies to deliver tailored solutions that reduce or eliminate the carbon impact of power generation for its own projects and those of its clients.

Since 2014, Twenty20 Energy’s management has focused on Papua New Guinea, where it has, per the company, successfully delivered 16 nationally significant energy and construction projects. During this period, the company established two reliable revenue streams: EPC project work and long-term operations and maintenance contracts.

"Twenty20 Energy is now poised to take advantage of the increasing economic development, urbanization and growing demand for electricity in the wider Asia Pacific region and around the world. It has a strong pipeline of power generation projects in Papua New Guinea and internationally that is set to deliver strong, continued earnings growth. Evolving revenues will be bolstered by additional project opportunities that offer both initial EPC revenues as well as long-tail returns from both long-term O&M contracts and project ownership.

 Twenty20’s assets include light industrial vehicles and equipment, gas supply valve and piping assets, a power operations base in Papua New Guinea, and a proprietary “Power Island” Floating Storage Regasification & Power (FSRP) solution that is set to provide near- and long-term energy and electrification needs of Papua New Guinea, and will be applicable to archipelago and coastal communities around the world. The Power Island FSRP represents the innovative approach Twenty20 brings to “energy-challenged” environments, the company said.



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