KUALA LUMPUR: Asia Pacific Energy Ventures Pte (APEV) announced it will carve out subsidiary Twenty20 Energy Systems with plans to take it public on the Nasdaq in the second quarter of 2022.

       Singapore-based Twenty20 Energy was formed in 2014 as a subsidiary to APEV, and has emerged as a leading engineering, procurement and construction (EPC), and operations and maintenance (O&M) service provider.

       Based on a statement, the company specialises in providing innovative energy technology solutions to remote and coastal communities with reliable, cost-effective and sustainable power in ways that minimise environmental impact.

       Geoff Lawrence, previously the Chief Executive Officer (CEO) of APEV, has been named CEO of Twenty20 Energy, responsible for pursuit of its public listing, while Steve Newman has been named CEO at Asia Pacific Energy Ventures.

       "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,” said Lawrence.

       "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.”

       Since 2014, Twenty20 Energy’s management has focused on Papua New Guinea, where it has 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.

       Asia Pacific Energy Ventures, along with its PNG subsidiary Pacific Energy Consulting (PEC), will continue to be a construction and contracting services execution partner for Twenty20 Energy on its Papua New Guinea projects.

       Twenty20 Energy is a leading EPC and operations and maintenance provider focused solely on the energy sector - leading the transition toward low carbon energy. - Bernama