As part of its strategy to penetrate international markets, Emirates Investment & Development Company PSC (Emivest) has acquired a 15 per cent stake, equivalent to 34 million shares, in ETI Tech Corp Bhd of Malaysia.

ETI Tech Corp has been listed on the Malaysian stock exchange (Mesdaq) since 2005. It was set up to undertake the research and development of intelligent battery management technologies and systems with special interest in polymer lithium-ion (PLI)-based energy cells.
PLI power packs have been used in mobile electronic appliances and static electronic equipment for use in the telecommunications, healthcare, defence, power utilities, aero-models and robotic applications.
The company is also developing the next-generation of energy storage systems with a larger capacity for solar panels and wind turbines. Besides having a larger capacity, the storage systems can be recharged faster and have a longer life span.
Giving details of the deal, Buti Saeed Al Ghandi, chairman of Emivest, said: “Our strategy focuses on expanding the value chain amongst our group of subsidiary companies, by product and services innovation as well as distribution channels optimisation. ETI Tech brings key values to our group of companies through the potential and possibility to integrate products and services as well as the cross culmination of going to market channels in the Middle East, Asia and Europe.”
Tarek Niazi, Group CEO of Emivest, maintained: “ETI Tech provides five categories of products, namely: On Demand Support (ODS) of existing batteries and chargers, On Demand Manufacturing (ODM) according to customer-specific and bespoke requirements, Original Equipment Manufacturing (OEM) where the final product carries the brand name of the customer and Own Brand Manufacturing (OBM) where the final products carries the ETI Tech product family brand name Nano.
Dennis Chuah, ETI director, said ETI Tech’s solar panels and wind turbines, used for generating power for home electrical appliances, were very popular in Europe. The company was also running research and development on fuel free vehicles.  “ETI Tech will work with Emivest to tap the Middle Eastern market. The collaboration will only enhance ETI Tech’s competitiveness globally. We hope that the partnership will serve as a key component of ETI Tech’s Middle East strategy,” he said.
Emivest’sportfolio includes Emirates Investment & Development PSC, Desert Landscape, Desert Leisure, Desert Turfcare, Dubai Garden Centre, Wahat Al Sahraa, Prisma Space Frame System, Prisma Windows & Doors, Proglass, Exclusive Acrylic, Prometal, The Canadian University of Dubai, Duplas Al Sharq, Ghadeer Mineral Water Company, BMC Gulf Group, CBS Technology and ETI Technology.