INNEOVA Advances Hydrogen Strategy

Rhea-AI Summary

INNEOVA Holdings (Nasdaq: INEO) on October 10, 2025 provided an update on its hydrogen energy strategy after signing an MoU with HyCee Pte. Ltd., a joint venture of GuoFu Hydrogen. The company said INNEOVA Engineering is identifying and developing pathfinder projects in Singapore to demonstrate commercial hydrogen applications across heavy industry, shipping, aviation, and heavy-load mobility.

The partnership reportedly gives INNEOVA access to technologies across the hydrogen value chain, including production, purification, storage, refueling, and vehicle-mounted supply systems. The update links the initiatives to Singapore's National Hydrogen Strategy, which projects hydrogen could supply up to 50% of power needs by mid-century. INNEOVA said it will update investors as projects and commercial opportunities progress.

Insights

Energy Strategy Analyst

INNEOVA advances hydrogen positioning via an MoU and pathfinder projects in Singapore; impact remains early-stage.

INNEOVA Engineering has formalized a collaboration with HyCee after the September 2025 MoU and is identifying pathfinder projects to demonstrate hydrogen applications across heavy industry, shipping, aviation, and heavy-load mobility. The partnership gives access to a full value‑chain technology set including hydrolysis production, liquid hydrogen plants, refueling stations, storage, transportation, and vehicle-mounted supply systems, which aligns with Singapore’s National Hydrogen Strategy and its 50% mid‑century hydrogen role.

Key dependencies and risks include the early-stage nature of the work and reliance on commercialization of the pathfinder demonstrations; the announcement contains no revenue, contracts, or milestones that confirm near-term cash flow. Monitor concrete project awards, technical validation outcomes, and specific commercial agreements; meaningful evidence of commercial traction will likely appear before any material financial impact is observable within a typical project development cycle.

Corporate Partnerships Analyst

The HyCee MoU strengthens INNEOVA’s strategic access to hydrogen capabilities but remains non‑binding and demonstration‑focused.

The MoU and stated collaboration grant INNEOVA access to HyCee’s portfolio and signal an intention to pursue early‑mover deployment in Singapore’s hydrogen ecosystem. The narrative emphasizes lifecycle engineering and total cost optimization for clients adopting hydrogen, positioning the company to offer integrated solutions if projects progress to procurement.

Primary items to watch are announcements of signed commercial contracts, scope and timing of the pathfinder projects, and any disclosed technical or safety validations; follow ups on these items will determine whether the partnership moves from strategic positioning to measurable revenue or margin effects within the next few years. Also note Singapore’s policy background cited with 2022 strategy and a 2050 net‑zero target as contextual drivers rather than guarantees of demand.

SINGAPORE, Oct. 10, 2025 (GLOBE NEWSWIRE) -- INNEOVA Holdings Limited (“INNEOVA Holdings” or the “Company”) (Nasdaq: INEO), through INNEOVA Engineering, a Singapore-based engineering solutions provider that maximizes equipment uptime, minimizes total ownership costs, and extends asset lifecycles through sustainable practices, today provided investors with an update on its hydrogen energy initiatives following the September 2025 signing of a Memorandum of Understanding with HyCee Pte. Ltd., a joint venture of GuoFu Hydrogen (“Jiangsu Guofu Hydrogen Energy Equipment Co. Ltd”)

Since establishing the partnership, INNEOVA Engineering has advanced its strategic positioning as a pathfinder for hydrogen adoption in Singapore, aligning with the nation's ambitious decarbonization roadmap. Singapore's National Hydrogen Strategy, launched in 2022, targets net-zero emissions by 2050, with hydrogen projected to supply up to 50% of the nation's power needs by mid-century. This represents a substantial long-term market opportunity as Singapore develops hydrogen as a key decarbonization pathway for hard-to-electrify sectors including heavy industry, shipping, aviation, and heavy-load mobility.

Strategic Progress and Market Positioning
INNEOVA Engineering is now actively identifying and developing pathfinder projects designed to demonstrate the commercial viability of advanced hydrogen technologies in Singapore. These initiatives will focus on deploying hydrogen-related applications and distribution solutions across target sectors, positioning the Company to capture early-mover advantages in this emerging market.

The partnership with HyCee provides INNEOVA with access to comprehensive hydrogen capabilities spanning the entire value chain, from production and purification to storage, refueling, transportation, and end-use applications. HyCee's technology portfolio includes hydrolysis hydrogen production equipment, liquid hydrogen plant solutions, hydrogen refueling station equipment, and vehicle-mounted hydrogen supply systems.

Diversifying Singapore's Energy Mix
For Singapore, hydrogen represents a critical complement to the nation's diversified energy strategy, working alongside solar power, imported electricity, geothermal energy, and potential future nuclear energy sources. INNEOVA's hydrogen initiatives support this national priority while enabling the Company to deliver sustainable engineering solutions that maximize asset uptime and optimize total cost of ownership for clients adopting alternative energy systems.

"We are committed to supporting our clients' early adoption of hydrogen and other alternative energies," said Roger Chua, Director of INNEOVA Engineering. "Our collaboration with HyCee positions us to deliver the engineering expertise and lifecycle management capabilities needed to ensure reliable, cost-effective hydrogen deployment in Singapore's mission-critical sectors."

The Company will continue to update investors as pathfinder projects advance and commercial opportunities materialize within Singapore's growing hydrogen ecosystem.

About INNEOVA Holdings Ltd.
INNEOVA Holdings (formerly SAG Holdings Limited) is a leading Singapore-based partner delivering solution-driven services for industries where uptime and reliability are mission-critical. By integrating deep engineering expertise, digital capabilities, and sustainable practices, INNEOVA provides solutions that maximize uptime, optimize total cost of ownership, and extend asset Lifecycle across its Parts Services and Engineering Services segments.

Parts Services: Offers comprehensive parts management and supply solutions to support mission-critical operations, ensuring availability, reliability, and maximum uptime.

Engineering Services: Delivers system lifecycle analysis and MRO services, enhanced by connectivity, digitalization, and data analytics. INNEOVA helps customers future-proof assets, achieve maximum uptime, and optimize total cost of ownership (TCO).

For more information, visit https://www.inneova.co.

Safe Harbor Statement

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “seeks,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus led with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and INNEOVA Holdings Limited specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.

Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com

Ivy Lee / Jamie Neo
INNEOVA Holdings Limited
Tel: +65 6383 7540
Email: ir@inneova.co

FAQ

What did INNEOVA (INEO) announce on October 10, 2025 about hydrogen?

INNEOVA announced a strategic update after an MoU with HyCee and said INNEOVA Engineering is developing pathfinder hydrogen projects in Singapore.

How does the HyCee partnership affect INEO's hydrogen capabilities?

The partnership provides access to technologies across production, purification, storage, refueling, and vehicle-mounted hydrogen supply systems.

Which sectors will INNEOVA target with its hydrogen projects in Singapore?

INNEOVA will focus on hard-to-electrify sectors including heavy industry, shipping, aviation, and heavy-load mobility.

What Singapore national target does INEO reference for hydrogen demand?

The company referenced Singapore's National Hydrogen Strategy, which projects hydrogen could supply up to 50% of power needs by mid-century.

Will INNEOVA (INEO) provide future updates on these hydrogen projects?

Yes. INNEOVA said it will continue to update investors as pathfinder projects advance and commercial opportunities materialize.