Accuron & Hyundai CRADLE Invest in Xnergy’s Charging
Accuron Technologies (Accuron), in collaboration with Hyundai CRADLE, Hyundai Motor’s corporate venturing and innovation division, has announced an investment in Xnergy Autonomous Power Technologies (Xnergy), a Singapore-based start-up specialising in contactless charging solutions for autonomous and EVs.
The investment marks the official launch of Accuron’s new business arm, Accuron New Ventures, which is dedicated to nurturing innovative technologies through targeted venture investments.
Accuron New Ventures: A strategic vision
The launch of Accuron New Ventures represents a significant expansion of the Group’s strategic objectives. The new pillar is focusses on investing in high-potential start-ups that align with global megatrends and sustainability goals, positioning Accuron as a leader in industry transformation. By identifying and investing in groundbreaking technologies, Accuron aims to strengthen its presence in emerging markets and sectors.
Accuron Technologies is a global precision engineering and technology group with headquarters in Singapore, founded in 1981 and owned by Temasek. It specialises in precision manufacturing, material processing, systems design and system integration.
Accuron's subsidiaries operate in various industries including Aerospace, Semiconductor Equipment, Automotive, Industrial Automation and Advanced Manufacturing, with a strong presence in Asia, Europe and the USA.
The group’s portfolio includes businesses such as SAM, Esmo Group, mechatronic Systemtechnik, ZASCHE handling, Flextos, NexGen Wafer Systems, RECIF Technologies, WAAM3D and Addept3D.
Hyundai CRADLE: Driving innovation in mobility
Part and parcel of Hyundai CRADLE’s (arm of Hyundai Motor Group’s) innovation is its commitment to corporate venturing and open innovation. Its mission is to foster cutting-edge technologies and business opportunities in the mobility sector through strategic investments and partnerships. Hyundai CRADLE pushes the boundaries of innovation in the automotive and mobility industries.
David Goh, Head of Hyundai CRADLE Singapore, added, “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.”
Empowering progress in global megatrends
Accuron has consistently championed innovation within its core business segments—Aerospace, Industrial Technologies and Advanced Manufacturing—and is now extending its reach by introducing New Ventures. Its investment strategy is to facilitate the growth of high-potential businesses, thus enhancing its overall portfolio.
The capital infusion into Xnergy exemplifies this approach and showcases Accuron’s commitment to nurturing emerging companies not only through financial support but with strategic guidance, corporate management and expert oversight.
Xnergy was selected for its strong presence in the Autonomous Mobile Robot (AMR) charging market and its potential to capitalise on the growing EV charging segment, particularly in China. The start-up’s experienced management team, proprietary technology and existing strategic partnerships further solidify its potential as a transformative player in the industry.
Edwin Chow, Vice President for Industrials & New Ventures at Accuron Technologies, stated:
“We’re pleased to welcome Xnergy into the Accuron New Ventures portfolio.”
“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.”
Bridging the charging gap
Founded in 2018, Xnergy has been at the forefront of developing high-power contactless charging solutions that address significant challenges in the electrification of autonomous vehicles. Their technology not only removes the limitations of wired charging but also improves safety and efficiency.
Xnergy’s solutions aim to bridge gaps in charging infrastructure and sustainability, offering scalability and ease of deployment. With a focus on practical, real-world applications, the company is well-positioned to become a leader in the contactless charging sector.
CF Tong, CEO of Xnergy Autonomous Power Technologies, stated, “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 empower 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.”
A shared vision
Accuron, Hyundai CRADLE and Xnergy share a common vision of innovation, collaboration and sustainable growth. Together, they aim to unlock the full potential of Xnergy’s technology, propelling the company into its next growth phase and driving advancements in the automotive industry.
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