Asia Properties, Inc. (OTCPK:ASPZ) agreed to acquire SRE Power Inc for $72 million on July 1, 2024. On completion of the transaction, ASPZ will change its name to HyOrc, Inc and restructure its Board. James McNaught-Davis, a seasoned private equity professional and venture capital investor with an investment management and advisory background at prominent firms including Advent, Merrill Lynch, Schroders, Warburg Pincus, and WHEB, has been selected to become the Chairman.

Meanwhile the tech entrepreneur Reginald Fubara, SRE's founder and CEO, will take over HyOrc's executive leadership.