Accuron Technologies (Accuron), in partnership with Hyundai CRADLE, Hyundai Motor’s corporate venturing and open innovation business, has announced a strategic investment in Xnergy Autonomous Power Technologies (Xnergy), a Singapore-headquartered start-up developing contactless charging solutions for autonomous electrified mobility. This investment also heralds the formal launch of Accuron’s New Ventures pillar—dedicated to fostering innovative technologies through targeted venture investments.
Accuron New Ventures marks a pivotal expansion of the Group’s strategic vision, and this new pillar will focus on ventures into high-potential start-ups well-aligned with global megatrends and sustainability imperatives, further positioning Accuron as a leader in driving industry transformation. It will continue to identify and invest in groundbreaking technologies, to strengthen the Group’s position in emerging markets and sectors.
Empowering Progress in Pivotal Megatrends
Accuron has consistently nurtured innovation across its core business groups of Aerospace, Industrial Technologies, and Advanced Manufacturing, and is now broadening its coverage with the introduction of New Ventures.
The Group’s investment philosophy is to facilitate the growth of high-potential businesses, and through which, to enhance its portfolio. The capital injection into Xnergy exemplifies this approach. It showcases Accuron’s commitment to fostering emerging companies—not only through financial backing, but also complemented by strategic support with corporate management and expert oversight.
Xnergy was chosen for its strong positioning in the AMR charging market, as well as its ability to seize opportunities in the burgeoning EV charging segment, particularly in China. The start-up’s robust management team, proprietary technology, and strategic partnerships at present further solidify its potential as a transformative player in this space.
“We’re pleased to welcome Xnergy into the Accuron New Ventures portfolio,” expressed 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. We have been investing in companies with promising technologies previously, and with New Ventures, we have a new vehicle to reinforce our dedication to nurturing start-ups that can reshape industries. This investment fits seamlessly within our broader strategy of investing in technologies that drive sectoral transformation and contribute to a sustainable future.”
David Goh, Head of Hyundai CRADLE Singapore, said “We are delighted to add Xnergy to our investment portfolio and support its mission of bringing safe, efficient, and maintenance-lite contactless charging to mobile robots and electric vehicles. We look forward to working with the talented Xnergy team to help it realise its vision.”
Bridging the Charging Gap: Xnergy Shapes Automotive Innovation
Since its founding in 2018, Xnergy has pioneered high-power contactless charging solutions that address critical challenges in electrification, particularly for autonomous vehicles. The company’s technology not only eliminates the constraints of wired charging, but also enhances safety and efficiency.
Additionally, Xnergy’s solutions have the potential to bridge gaps in charging infrastructure availability and sustainability, coupled with the ease to scale and deploy. These capabilities—combined with Xnergy’s commitment to practical, real-world applications—enables the company to be well-positioned to be amongst the leaders in contactless charging.
CF Tong, Chief Executive Officer at Xnergy Autonomous Power Technologies, shared, “We are honoured to receive the confidence and support from Hyundai CRADLE and the Accuron Group. Their investment and trust not only validate our vision but also empowers us to accelerate our progress and advance our contactless charging technology. With our investors’ strategic guidance and resources, we are poised to achieve new milestones and drive innovation in the automotive industry.”
Conclusion
Accuron, Hyundai CRADLE, and Xnergy are united by a shared vision of innovation, collaboration, and sustainable growth. Together, all parties will endeavour to unlock the full potential of Xnergy’s technology and solutions, propelling it into the next phase of growth and development.
