SINGAPORE, 26 October 2023 – Catalist-listed Heatec Jietong Holdings Ltd.
(hereinafter, the “Company” or “Heatec Jietong”, and together with its
subsidiaries, the “Group”), a
leading heat exchanger and piping specialist, has today signed a non-binding
Memorandum of Understanding (“MOU”) with SquareDog Robotics Limited (“SQD”)
to collaboratively develop innovative applications and solutions for the
marine, offshore oil and gas sector. Mr Anthony Ang Meng Huat, an Independent
Director of Heatec Jietong, is also an Executive Director at SQD.
Founded in 2018, SQD is an award-winning technology
company specialising in smart service robots, which SQD developed with the
latest know-how in artificial intelligence and robotic automation. SQD focuses on
inventing, developing, and integrating its proprietary core technology of
enhanced artificial intelligence software with hardware. It pioneered the
world’s first welding robot to be used on construction sites. SQD’s welding and
cutting robots have been deployed in many Hong Kong projects and include the construction
of hospitals, high-rise buildings and public housing projects. SQD has also
rolled out a robotic cleaning system for the facades of skyscrapers which
dispenses with the current precarious gondola system and can be operated safely
from a distance by a team of cleaners.
SQD’s proprietary intuitive software, Robota6th, can
be used to develop robotics system solutions for a wide range of industries. It
works by sensing and collecting data from database inputs and uses a smart intelligence
algorithm to enable workers to execute and perform high-quality work with a minuscule
tolerance for irregularity and error.
The scope of
collaboration between Heatec and SQD includes:
·
Implementing robotic
technology in the marine, offshore oil and gas industries
Leveraging
on SQD’s expertise, Heatec and SQD will explore the feasibility of automating
on-site welding to ensure safety, quality and adherence to environmental, social
and governance (“ESG”) objectives, minimising risks and enhancing
productivity.
·
Developing Robotics
Applications
Using
SQD’s proprietary capabilities, Heatec and SQD will collaborate to develop
solutions and specialised testing applications, enabling robust equipment
inspection and data collection with the demanding work environment.
·
Entering and expanding
into new markets in the region
As
both Heatec and SQD are headquartered in Singapore, they will be able to
strengthen their capabilities by partnering pivotal industry players in the
region. Together, Heatec and SQD will
assess potential markets, identify key stakeholders and advocate for innovative
solutions.
Moving ahead, both parties may also enter into other
binding agreements involving, or related, to the abovementioned collaborative
business activities. At the appropriate
time, the Group will enter into further agreements that will define both
parties’ rights and obligations before commencing any business activity.
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