EBENEZER GROUP ANNOUNCES ACQUISITION OF HAVI LOGISTICS SINGAPORE AND SECURES LANDMARK SOLAR POWER DEAL FOR LTA CORPORATE HEADQUARTERS

• Local Company Ebenezer Logistics, a subsidiary of the Ebenezer Group, has successfully acquired HAVI Logistics' operations in Singapore, representing a strategic pivot towards sustainability and expansion.
• Ebenezer Group has also signed a Power Purchase Agreement (PPA) for a Build-Own Transfer (BOT) concession project to power the Land Transport Authority (LTA) Corporate Headquarters at Hampshire Road with their solar panels.

SINGAPORE, Jan. 26, 2024 /PRNewswire/ -- In a groundbreaking move towards sustainability and strategic expansion, Ebenezer Logistics, a subsidiary of the prominent local business Ebenezer Group, proudly announces the successful acquisition of HAVI Logistics' operations in Singapore. This milestone agreement positions Ebenezer Logistics as a key player in the logistics sector and underscores its commitment to fostering a greener future.

This acquisition, effective as of 29 December 2023, marks a pivotal moment for Ebenezer Logistics as it strategically broadens its business portfolio, perfectly aligning with its growth strategy. HAVI Logistics, renowned for its top-notch cold chain solutions, not only strengthens Ebenezer Logistics' position in the logistics sector but also represents a significant leap forward. Cold chain solutions are vital in preserving the integrity of temperature-sensitive goods during transportation and storage. By incorporating HAVI Logistics' Singapore operations, Ebenezer Logistics enhances its presence in the cold chain sector with the inclusion of approximately 30,000 sf of cold storage capacity within its diverse portfolio of space at Pandan Loop.

HAVI Logistics' global reputation for excellence, combined with Ebenezer Logistics' expanded capabilities, sets the stage for increased efficiency and innovation in logistics solutions. This acquisition underscores Ebenezer Logistics' commitment to providing cutting-edge services and reinforces its trajectory towards becoming a comprehensive and leading player in the logistics industry.

Mr. Lawrence Kim, CEO of Ebenezer Group, said: "As we embark on this transformative journey, the acquisition of HAVI Logistics' operations in Singapore marks a defining moment for Ebenezer Group. Our vision extends beyond mere logistics – it's about pioneering sustainability and innovation. Integrating HAVI's operations propels us towards a future where efficiency and ingenuity redefine the logistics landscape."

Power Purchase Agreement Contract with Land Transport Authority

In addition to the acquisition, Ebenezer Group also announces the signing of a Power Purchase Agreement (PPA) contract with the Land Transport Authority (LTA), securing the payment stream for a Build-Own Transfer (BOT) concession project. This project aims to power LTA's Corporate Headquarters at Hampshire Road with solar panels through its Rooftop Solar Photovoltaic (PV) System. Leveraging renewable energy from the sun, this initiative not only contributes to environmental sustainability but also ensures long-term energy efficiency for the headquarters.

Mr Kim continues: "Signing the Power Purchase Agreement (PPA) for the LTA Headquarters is our pledge to shape a sustainable future. The Rooftop Solar Photovoltaic (PV) System will be installed at Hampshire Road by Ebenezer, streamlines environmental responsibility and a testament to our dedication to long-term energy efficiency, where renewable energy becomes the backbone of Singapore's infrastructure. The ambitious target of 50MW in solar systems by 2025 is our commitment to lead this green revolution."

Ebenezer's rooftop solar PV system harnesses the power of the sun, offering a clean, safe, sustainable, and abundant energy source. The system can be easily installed on various surfaces, including roofs, parking lots, and on/offshore facilities. Investing in solar PV systems not only leads to lower electricity bills but also promises a strong solar return on investment (ROI). As one of the most trusted renewable and solar energy companies in Singapore, Ebenezer boasts a portfolio of pipeline and completed projects, totalling close to 10MW of solar projects across HDB rooftops, shipyards, and commercial roofs.

Founded in 1994 as a Non-Destructive Testing (NDT) company primarily serving the oil & gas sector, Ebenezer expanded in 2013 by venturing into CNC precision engineering. The company continued its trajectory of diversification with a foray into solar energy in 2018 and entered the logistics sector in 2021.

This evolution positions Ebenezer as a versatile and dynamic organisation, showcasing expertise across various industries. From its roots in non-destructive testing (NDT), the company has ventured into cutting-edge technologies and sustainable practices. The pride of Ebenezer lies in its pioneering initiatives, notably its Electric Vehicle (EV) fleet. Consisting of about 200 trucks, vans, prime movers, lorry crane, freezer containers and chassis, Ebenezer has become a trailblazer in the industry. This groundbreaking commitment aligns with the company's ethos of innovation, sustainability, and excellence in every facet of its operations.

In line with their growth strategy, Ebenezer is actively seeking financial backing to fuel its expansion plans. The company aims to attract potential investors who share their vision for a sustainable future and wish to be part of the green revolution in Singapore.

For more information on Ebenezer Group, visit www.ebenezer.com.sg