Accuron, in partnership with Hyundai CRADLE-Hyundai Motor’s corporate venturing and open innovation arm has announced a strategic investment in Singapore-based Xnergy Autonomous Power Technologies (Xnergy). The start-up is known for developing innovative contactless charging solutions aimed at enhancing autonomous electrified mobility. This investment marks the official launch of Accuron’s New Ventures pillar, which is dedicated to fostering innovative technologies through targeted venture investments.
Accuron New Ventures represents a significant expansion of the Group’s strategic vision, focusing on investments in high-potential start-ups that align with global megatrends and sustainability initiatives. This initiative positions Accuron as a leader in driving industry transformation by identifying and investing in groundbreaking technologies that strengthen its presence in emerging markets.
“We are pleased to welcome Xnergy into the Accuron New Ventures portfolio,” said Edwin Chow, Vice President for Industrials & New Ventures at Accuron Technologies. “Their innovative solutions in contactless charging are poised to make a substantial impact on the evolving EV market. With New Ventures, we have a new vehicle to reinforce our commitment to nurturing start-ups that can reshape industries.”
Xnergy was selected for its strong positioning in the automated mobile robot (AMR) charging market and its capability to leverage opportunities in the expanding electric vehicle (EV) charging sector, particularly in China. The start-up’s proprietary technology and robust management team further enhance its potential as a transformative player in this field.
David Goh, Head of Hyundai CRADLE Singapore, expressed enthusiasm for the collaboration: “We are delighted to add Xnergy to our investment portfolio and support its mission of bringing safe, efficient, and maintenance-free contactless charging to mobile robots and electric vehicles.”
Founded in 2018, Xnergy has pioneered high-power contactless charging solutions, addressing critical challenges in electrification for autonomous vehicles. The company’s technology not only eliminates the limitations of wired charging but also enhances safety and efficiency. Xnergy aims to bridge gaps in charging infrastructure availability and sustainability, making it well-positioned to lead in the contactless charging market.
CF Tong, CEO of Xnergy Autonomous Power Technologies, shared his gratitude for the investment: “We are honored to receive the confidence and support from Hyundai CRADLE and the Accuron Group. Their investment validates our vision and empowers us to accelerate our progress in advancing contactless charging technology.”
With this strategic investment, Accuron, Hyundai CRADLE, and Xnergy aim to collaborate on unlocking the full potential of Xnergy’s innovative technology and solutions, propelling the company into its next phase of growth and development.
