Welle Environmental Group Co., Ltd. (300190.SZ) announced that it has signed a strategic cooperation framework agreement with Primech Holdings Ltd. ("PMEC"). The two parties agreed to establish a collaborative platform focused on innovation, scenario adaptation, and application promotion in the industrial robotics sector, aiming to develop robotic solutions for high-risk, complex, and confined industrial environments.
Under the agreement, Welle Environmental Group or its subsidiary will jointly establish a Singapore-based joint venture with PMEC. The joint venture will have a registered capital of SGD 1 million, with Welle holding a 70% stake and PMEC owning the remaining 30%. The core business of the joint venture will revolve around the R&D, technological transformation, and related services for "multi-dimensional, intelligent, and adaptive" specialized robots targeting hazardous and challenging industrial settings.
PMEC, a leading integrated facility service provider in Singapore, possesses extensive high-quality client resources across sectors such as airports, hospitals, and commercial complexes. Its robotics subsidiary has completed pilot testing and initial market expansion, demonstrating mature technological conversion capabilities. Its self-developed cleaning robots have proven stable and practical in multiple scenarios.
Meanwhile, Welle Environmental Group, with years of expertise in energy conservation and environmental protection, has accumulated diverse operational scenarios and project data in industries like environmental protection, industrial manufacturing, and petrochemical energy, providing an ideal testing ground for applied robotics.
Moving forward, Welle will primarily oversee scenario-based testing and commercialization of the jointly developed robots, initially deploying them in select processes of its existing projects. Key applications include maintenance in confined spaces of environmental projects and inspection tasks in petrochemical facilities. PMEC will lead the core technology R&D efforts for the robotics solutions.