Withers KhattarWong LLP, the Singapore office of international law firm Withers, advised EDB New Ventures in establishing energy management company NaviX Solutions, alongside energy and automation multinational Schneider Electric. EDB New Ventures is the venture-building arm of the Singapore Economic Development Board (EDB).
NaviX Solutions provides full lifecycle management for enterprise power and cooling assets while delivering insights into how these assets are managed sustainably and efficiently. NaviX Solutions is headquartered in Singapore, and the company plans to scale globally.
The Withers tech Asia team led by Partner Joel Shen, and comprising Gabriel Li, Wee Jin-Wen and Nicole Weers, advised on the incubation of and on the investment in NaviX Solutions.
The announcement came during a visit by Singapore Deputy Prime Minister Heng Swee Keat to Schneider Electric's headquarters, where he was shown a unified digital platform by NaviX Solutions.
Joel Shen comments: "We are pleased to work with EDB New Ventures in this venture which creates jobs, advances innovation in climate-related technology, and does so sustainably. It was a pleasure to have worked with the EDB New Ventures team, and we look forward to supporting them on future transactions."
The company is expected to create about 100 new jobs in customer service, technical support, finance, human resources and logistics, amongst others in Singapore. The venture also advances Singapore's commitment to environmental, social and corporate governance (ESG) and sustainable development by meeting the UN's sustainable development goals in its 2030 agenda.