Revolutionizing Transportation: Asia Properties Acquires SRE Power, Inc.
Key Ideas
- Asia Properties Inc. announced an acquisition agreement to acquire Houston-based cleantech company SRE Power, Inc. for $72m, marking a significant step in the future of transportation.
- SRE Power, Inc. is renowned for its innovative HyOrc technology, utilizing a hydrogen gas and Organic Rankine Cycle turbines to create a zero-emission, high-efficiency propulsion system.
- The HyOrc engine is set to disrupt the heavy-duty transportation market with unmatched efficiency, affordability, and environmental benefits, targeting the truck, train, and ship industries.
- Upon completion of the acquisition, Asia Properties Inc. plans to rebrand as HyOrc, Inc. and restructure its Board, reflecting its commitment to integrating and expanding the groundbreaking technology into various industries.
Asia Properties Inc. has made a strategic move in the transportation sector by acquiring SRE Power, Inc., a Houston-based hydrogen technology company, in a share-for-share deal valued at $72m. SRE Power, Inc. is known for its cutting-edge HyOrc technology, which combines hydrogen gas and ORC turbines to create a clean and efficient propulsion system. The company aims to revolutionize the heavy-duty transportation market with its groundbreaking engine, offering zero emissions, high efficiency, and affordability. With projections of a $3.5 billion annual turnover within four years, SRE Power, Inc. is set to disrupt the EV and hydrogen fuel-cell industry. Asia Properties Inc. plans to rebrand as HyOrc, Inc. and restructure its Board post-acquisition, signaling a commitment to integrating the innovative technology into various sectors. This acquisition marks a significant step towards the future of transportation, emphasizing environmental sustainability and technological advancement.