SINGAPORE, Oct. 10, 2025 — INNEOVA Holdings Limited (Nasdaq: INEO), through its subsidiary INNEOVA Engineering, a Singaporean firm specializing in engineering solutions to maximize equipment uptime, reduce ownership costs, and extend asset lifecycles sustainably, today updated investors on its hydrogen energy initiatives. This follows the establishment of a partnership, a joint venture with GuoFu Hydrogen (Jiangsu Guofu Hydrogen Energy Equipment Co. Ltd).
Since the partnership began, INNEOVA Engineering has been strategically positioning itself as a pioneer in hydrogen adoption in Singapore, in line with the country’s decarbonization plans. Singapore’s plan, launched in 2022, aims for net-zero emissions by 2050, with hydrogen potentially supplying up to half of the nation’s power by mid-century. This presents a significant long-term market opportunity as Singapore develops hydrogen as a key decarbonization method for sectors difficult to electrify, such as heavy industry, shipping, aviation, and heavy transportation.
Strategic Progress and Market Positioning
INNEOVA Engineering is actively identifying and developing pilot projects to demonstrate the commercial feasibility of advanced hydrogen technologies in Singapore. These projects will focus on implementing hydrogen applications and distribution solutions across key sectors, positioning the company to capitalize on early advantages in this developing market.
The collaboration with HyCee provides INNEOVA access to comprehensive hydrogen expertise across the entire value chain, from production and purification to storage, refueling, transportation, and end-use applications. HyCee’s technology includes hydrolysis hydrogen production equipment, liquid hydrogen plant solutions, hydrogen refueling station equipment, and hydrogen supply systems for vehicles.
Diversifying Singapore’s Energy Mix
Hydrogen is a crucial component of Singapore’s diversified energy strategy, complementing 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 provide sustainable engineering solutions that maximize asset uptime and optimize total ownership costs for clients adopting alternative energy systems.
“We are dedicated to supporting our clients’ early adoption of hydrogen and other alternative energies,” stated Roger Chua, Director of INNEOVA Engineering. “Our partnership with HyCee allows us to deliver the engineering expertise and lifecycle management capabilities necessary for reliable, cost-effective hydrogen deployment in Singapore’s critical sectors.”
The Company will continue to inform investors as pilot projects progress and commercial opportunities arise within Singapore’s expanding hydrogen industry.
About INNEOVA Holdings Ltd.
INNEOVA Holdings (formerly SAG Holdings Limited) is a leading Singaporean partner providing solution-driven services for industries where uptime and reliability are critical. By combining deep engineering expertise, digital capabilities, and sustainable practices, INNEOVA offers solutions that maximize uptime, optimize total cost of ownership, and extend asset lifecycles across its Parts Services and Engineering Services divisions.
Parts Services: Offers comprehensive parts management and supply solutions to support 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 .
Safe Harbor Statement
Statements in this press release concerning future expectations, plans, and prospects, as well as any statements regarding matters that are not historical facts, may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about expected trading commencement and closing dates. Words such as “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 words. Actual results may differ significantly from those indicated by these forward-looking statements due to various important factors, including 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 filed with the SEC. Any forward-looking statements in this press release are relevant only as of the date of this release, and INNEOVA Holdings Limited specifically disclaims any obligation to update any forward-looking statement, whether due to 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:
Ivy Lee / Jamie Neo
INNEOVA Holdings Limited
Tel: +65 6383 7540
Email:
“`