SINGAPORE, 26 October 2023 – Catalist-listed Heatec Jietong Holdings Ltd. (hereinafter, the “Company” or “Heatec Jietong”, and together with its subsidiaries, the “Group”), a leading heat exchanger and piping specialist, has today signed a non-binding Memorandum of Understanding (“MOU”) with SquareDog Robotics Limited (“SQD”) to collaboratively develop innovative applications and solutions for the marine, offshore oil and gas sector. Mr Anthony Ang Meng Huat, an Independent Director of Heatec Jietong, is also an Executive Director at SQD.
Founded in 2018, SQD is an award-winning technology company specialising in smart service robots, which SQD developed with the latest know-how in artificial intelligence and robotic automation. SQD focuses on inventing, developing, and integrating its proprietary core technology of enhanced artificial intelligence software with hardware. It pioneered the world’s first welding robot to be used on construction sites. SQD’s welding and cutting robots have been deployed in many Hong Kong projects and include the construction of hospitals, high-rise buildings and public housing projects. SQD has also rolled out a robotic cleaning system for the facades of skyscrapers which dispenses with the current precarious gondola system and can be operated safely from a distance by a team of cleaners.
SQD’s proprietary intuitive software, Robota6th, can be used to develop robotics system solutions for a wide range of industries. It works by sensing and collecting data from database inputs and uses a smart intelligence algorithm to enable workers to execute and perform high-quality work with a minuscule tolerance for irregularity and error.
The scope of collaboration between Heatec and SQD includes:
· Implementing robotic technology in the marine, offshore oil and gas industries
Leveraging on SQD’s expertise, Heatec and SQD will explore the feasibility of automating on-site welding to ensure safety, quality and adherence to environmental, social and governance (“ESG”) objectives, minimising risks and enhancing productivity.
· Developing Robotics Applications
Using SQD’s proprietary capabilities, Heatec and SQD will collaborate to develop solutions and specialised testing applications, enabling robust equipment inspection and data collection with the demanding work environment.
· Entering and expanding into new markets in the region
As both Heatec and SQD are headquartered in Singapore, they will be able to strengthen their capabilities by partnering pivotal industry players in the region. Together, Heatec and SQD will assess potential markets, identify key stakeholders and advocate for innovative solutions.
Moving ahead, both parties may also enter into other binding agreements involving, or related, to the abovementioned collaborative business activities. At the appropriate time, the Group will enter into further agreements that will define both parties’ rights and obligations before commencing any business activity.
