SINGAPORE, Nov. 25, 2024 /PRNewswire/ -- MediSun Energy, a company specializing in advanced osmotic (blue) energy technology, has successfully secured US$8.75 million in Seed financing round and established a strategic partnership with Southeast Asian venture capital firm Vynn Capital. The funding consists of US$5 million in venture debt and US$3.75 million in equity financing, bringing the company's valuation to US$44 million.
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 a number of 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 Co. has also committed to investing up to US$30 million into Medisun's Saudi Arabia business to form a local joint venture.
The parties highlighted that this 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."
Victor Chua, Founding & Managing Partner of Vynn Capital, added: "MediSun's solutions are crucial in solving water supply chain and scarcity issues while achieving net-zero carbon goals by reducing energy consumption. Over the medium term, we believe such technology can also be crucial for other industries, such as mobility and industrial sectors, that require innovation in energy management. This is especially important with the narrative of Malaysia and Southeast Asia playing a larger role in the renewable energy sector. Our investment in MediSun reflects our belief in the team's vision and our commitment to supporting groundbreaking technologies that have a positive impact on the environment and society."
In addition to supporting MediSun's growth, Vynn Capital is actively exploring other opportunities and startups in key markets such as Singapore, Thailand, and Indonesia. With Southeast Asia's water technology market expected to grow significantly, this partnership positions both companies at the forefront of innovation and sustainability in the region.
About MediSun Energy
MediSun Energy is a technology-driven company dedicated to advancing clean and efficient energy solutions. Our innovative WEGen technology utilises osmotic power to enhance energy efficiency in water desalination and to generate renewable energy. Committed to a net-carbon neutral future, we strive to deliver practical, sustainable solutions that align with our vision of a world powered by clean and green energy.
About Vynn Capital
Vynn Capital is an industry focused early-stage venture capital firm founded with the objective of bridging the gap between traditional industries and the new economies through the development of technology. Vynn's investment philosophy revolves around the creation of synergistic value between portfolio companies and companies within the firm's ecosystem.
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