United Warehouse Signs New Solar PV Systems Agreement to Further Enhance Sustainability and Revenue Diversification

Rhea-AI Summary

United Warehouse, a subsidiary of Marvion Inc. (OTC: MVNC), has signed a new Solar Photovoltaic (PV) System Service Agreement with Starwarehouse Engineering. The project involves installing a 170kW solar PV system on their Yuen Long facility, featuring 512 units of 520W flexible solar panels.

The installation, expanding on their October 2024 PV system, will operate from 2025 through December 31, 2033. The generated electricity will be sold to CLP Power Hong Kong under the Feed-in Tariff scheme, creating a stable revenue stream while reducing carbon footprint.

Key aspects include:

• Revenue diversification through CLP's Feed-in Tariff scheme
• Enhanced sustainability supporting Hong Kong's carbon neutrality goals
• Long-term collaboration until 2033
• Comprehensive risk mitigation measures

HONG KONG, Feb. 26, 2025 /PRNewswire/ -- United Warehouse Limited ("United"), a wholly-owned subsidiary of Marvion Inc. (OTC: MVNC), today announced the signing of a new Solar Photovoltaic (PV) System Service Agreement (the "Agreement") with Starwarehouse Engineering Limited ("Starwarehouse"). This collaboration further solidifies United Warehouse's commitment to sustainability and green energy transition while diversifying its revenue streams.

Under the Agreement, Starwarehouse will be responsible for designing, installing, and commissioning a 170kW solar PV system on the rooftop of another United Warehouse's facility located at DD 119 LOT 1294,1295,1298, Pak Sha Tsuen, Yuen Long, New Territories. The system will include 512 units of 520W flexible solar panels, a 120kW inverter, a 50kW inverter, an isolation transformer, and other related equipment. The electricity generated by the system will be sold to CLP Power Hong Kong Limited ("CLP") under the Feed-in Tariff (FiT) scheme, providing United Warehouse with a long-term, stable revenue stream while further reducing its carbon footprint.

The project is an expansion to the previous PV system installation done in October 2024, and this new installation is expected to commence operations in 2025 and will run until December 31, 2033. The PV system is projected to generate a significant amount of renewable energy annually, effectively reducing United Warehouse's operational costs and promoting environmental sustainability.

Mr. Chan Sze Yu, CEO of Marvion Inc., commented, "This new agreement not only reflects our commitment to green energy but also demonstrates our ability to balance long-term financial returns with social responsibility. We look forward to the economic and environmental benefits the PV system will bring to the company, further strengthening our competitiveness in the Hong Kong market."

A spokesperson for Starwarehouse added, "We are honored to partner with United Warehouse once again, providing them with efficient and safe PV solutions to support their energy transition. We believe this state-of-the-art system will deliver long-term environmental benefits and economic returns to the Marvion Group."

Key Highlights of the Agreement:

1. Revenue Diversification: The PV system will generate stable additional income for United Warehouse through CLP's Feed-in Tariff scheme.
2. Sustainability: The project will significantly reduce the company's carbon footprint, supporting Hong Kong's carbon neutrality goals.
3. Long-Term Collaboration: The Agreement is valid until 2033, ensuring mutual benefits for both parties over the coming years.
4. Risk Mitigation: The Agreement includes provisions for insurance, maintenance, and force majeure, ensuring smooth project operations.

This collaboration not only underscores Marvion and United Warehouse's commitment to sustainability but also reinforces Marvion Inc.'s leadership in environmental protection and social responsibility as a logistics and warehousing service provider.

About Marvion

Mavion (MVNC) is a group provides logistics and warehousing services in the Hong Kong market. The group provides one-stop transport and storage solutions to business clients.

Website: http://www.unitedksk.com

For media queries, please contact:
ir@unitedksk.com 

View original content:https://www.prnewswire.com/news-releases/united-warehouse-signs-new-solar-pv-systems-agreement-to-further-enhance-sustainability-and-revenue-diversification-302385806.html

SOURCE Marvion Inc.

FAQ

What is the capacity of United Warehouse's new solar PV system installation?

The new solar PV system has a capacity of 170kW, consisting of 512 units of 520W flexible solar panels, a 120kW inverter, and a 50kW inverter.

How long will the new solar PV system agreement run?

The agreement will commence operations in 2025 and run until December 31, 2033.

How will United Warehouse generate revenue from the solar PV system?

The electricity generated will be sold to CLP Power Hong Kong under their Feed-in Tariff (FiT) scheme, providing a stable, long-term revenue stream.

Where is the new solar PV system being installed?

The system will be installed on United Warehouse's facility located at DD 119 LOT 1294,1295,1298, Pak Sha Tsuen, Yuen Long, New Territories, Hong Kong.

What are the key benefits of this solar PV system agreement?

The agreement provides revenue diversification through the Feed-in Tariff scheme, reduces carbon footprint, ensures long-term collaboration until 2033, and includes risk mitigation measures.