Founder Group Signs Memorandum of Understanding with GCL Systems Integration Technology Co., Ltd. to Cooperate on Renewable Energy Projects Valued at up to USD $220 Million
Rhea-AI Summary
Positive
- Potential projects valued at up to USD $220 million indicate significant revenue opportunity
- Partnership with GCL, a world-leading PV and storage system integrator, enhances FGL's market position
- Expansion into ASEAN markets beyond Malaysia shows geographic growth potential
- Access to GCL's technical expertise and high-quality PV products could improve competitive advantage
Negative
- MOU is non-binding and requires separate definitive agreements for actual projects
- No guaranteed timeline or specific project commitments
- Success depends on ability to secure and execute projects in competitive markets
News Market Reaction
On the day this news was published, FGL declined 8.79%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
KUALA LUMPUR, Malaysia, June 17, 2025 (GLOBE NEWSWIRE) -- Founder Group Limited (NASDAQ: FGL) (“Founder Group” or the “Company”), a leading engineering, procurement, construction, and commissioning (EPCC) solutions provider for solar photovoltaic systems in Malaysia, is pleased to announce the signing of a memorandum of understanding (MOU) with GCL Systems Integration Technology Co. Ltd. (GCL). The companies have agreed to cooperate and work together to explore, identify, assess and undertake projects focused on the Renewable Energy industry across Malaysia and other ASEAN countries with an estimated value of up to USD
GCL Systems Integration Technology Co., Ltd. is a publicly traded company listed on the Shenzhen Stock Exchange. Founded in 2003, GCL has grown into a world-leading one-stop smart PV and storage system integrator. GCL emphasizes technological innovation and excellence by providing high-quality, efficient and differentiated products. Leveraging on their powerful technical research and development strength and excellent system solution design capability, GCL has secured a leading position in intelligent PV and storage energy solutions after 20 years of unremitting efforts. As of today, their product range includes high efficiency cells, PV modules and energy storage systems. Furthermore, GCL offers diversified service modules such as integrated financial services and intelligent operation and maintenance management, aiming to deliver efficient, intelligent and integrated energy solutions alongside outstanding service experiences to global customers.
Under the agreement, FGL and GCL will employ various methods to achieve their objectives, including exchanging information, proposing and implementing specific actions, and periodically evaluating the effectiveness of their collaboration. Additionally, both companies commit to contributing technical expertise and proficiency to support the collaboration on identified projects.
Each entity will take essential steps to carry out proper procedures professionally and diligently to identify and procure the projects. If any projects are secured, a separate definitive agreement will be executed outlining each company’s commitments, including providing necessary assistance, relevant information and documents required by the other party. Upon execution of the MOU, both entities will utilize internal resources to source and secure potential projects, analyze tender documents, prepare business plans, and develop proposals.
“We are proud to announce our collaboration with GCL Systems Integration Technology on future Renewable Energy projects. Leveraging GCL’s strong global reputation and expertise in manufacturing and supply of solar PV modules and storage will be an integral part of this cooperation to advance our capabilities to support Malaysia and the surrounding countries’ renewable energy goals and promote a greener environment for our customers. Additionally, we anticipate significant revenue opportunities as we work to establish sustainable projects that will drive top-line growth as well as margin and income expansion which we expect will result in substantial gains in shareholder value,” said Lee Seng Chi, Chief Executive Officer of Founder Group Limited.
About Founder Group Limited
Founder Group Limited is a pure-play, end-to-end EPCC solutions provider for solar PV facilities in Malaysia. The company’s primary focus is on two key segments: large-scale solar projects and commercial and industrial (C&I) solar projects. The company’s mission is to provide customers with innovative solar installation services, promote eco-friendly resources and achieve carbon neutrality.
For more information on the Company, please visit https://www.founderenergy.com.my/.
About GCL System Integration Technology Co., Ltd.
GCL System Integration Technology Co., Ltd. strives to be the world’s leading integrator of comprehensive energy systems. The company closely follows the new stage development in the 14th Five Year Plan and new opportunities of the “Double Carbon Goals”, actively seizes the historical opportunity period, and provides customers with high-quality clean energy one-stop services following the strategic guidance of technological, digital and green GCL.
For more information on the Company, please visit https://en.gclsi.com/about_us.
Safe Harbor Statement
This press release contains forward-looking statements that reflect our current expectations and views of future events. Known and unknown risks, uncertainties and other factors, including those listed under “Risk Factors” in the Company’s filings with the U.S. Securities and Exchange Commission, may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. You can identify some of these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements involve various risks and uncertainties. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. We qualify all of our forward-looking statements by these cautionary statements.
CONTACT INFORMATION:
For media queries, please contact:
Founder Group Limited
info@founderenergy.com.my
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com
FAQ
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