Yinson, and SMRT Ventures co-invest in MooVita

PETALING JAYA: Yinson Holdings Bhd has entered into an agreement with SMRT Ventures to co-invest in MooVita Pte Ltd, an autonomous vehicle tech startup. The group said in a statement that the co-investment aimed to accelerate the development, commercialisation and international expansion of MooVita’s driverless solutions, beginning with the deployment of safe and comfortable driverless solutions for public transportation and the urban environment. This is achievable by leveraging on Yinson’s extensive experience in the logistics solutions and energy industries as well as SMRT Ventures and the transport ecosystem in Singapore. Yinson Group executive vice-president of new ventures and technology Eirik Barclay (pic) said the investment was in line with YGT’s ambitions of accelerating the global transition to a low carbon economy through green technology investments. “Our plan is to replace existing infrastructure and develop innovative business solutions in order to make transportation sustainable through the adoption of clean and environmentally-sound technologies.