BH Global : Integration Engineering Arm, BOS Offshore & Marine Pte Ltd ('BOS'), Signs Strategic System Integration Agreement With Danfoss In Expediting Adoption Rate Of Marine Hybrid/Full Electric Vessel Operation In Singapore Waters

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NEWS RELEASE

BH Global's Integration Engineering arm, BOS Offshore & Marine Pte Ltd ('BOS'), signs strategic System Integration Agreement with Danfoss in expediting adoption rate of Marine Hybrid/Full Electric vessel operation in Singapore waters

Singapore, 9 September 2020 - BH Global Corporation Limited ("BH Global"，"明辉环球企业" or

the "Group"), is pleased to announce that BOS Offshore & Marine Pte Ltd ("BOS"), a 90%-owned subsidiary of the Group, has entered into a System Integration Agreement with Danfoss. The strategic integration partnership between BOS and Danfoss will enhance both companies' sustainability and environmental roadmaps in expediting adoption rate of Marine Hybrid/Full Electric vessel operation in Singapore waters.

• BOS aspires to be a leader in Singapore maritime industry's drive towards achieving global standards on carbon emission reductions.
• In April 2018, the International Maritime Organisation ("IMO") laid out its strategy to reduce the shipping industry's total greenhouse gas ("GHG") emissions in 2050 by at least 50% from 2008 levels, and to reduce CO2 emissions per transport work by at least 40% by 2030.

The strategic alliance between BOS and Danfoss started since 2019 when both companies started working together to power Singapore's first plug-inhybrid-electric fast launch vessel in a project where the vessel is being built and owned by major boat builder Penguin International Ltd. Signing of this agreement reaffirms both companies' vision in maritime electrification.

The design, development, construction and delivery of green marine hybrid/full electric vessel includes critical project scopes of system integration, testing and certification of the vessel's hybrid- electric systems and technology. BOS develops our proprietary designed HMI (Human Machine Interface) and control system, which will seamlessly integrate and control the power drivetrain, batteries, and propulsion system in various operating modes.

Danfoss Editron's hybrid-electric drivetrain system comprises of high efficiency synchronous reluctance permanent magnetic motors, inverters and inductors. Such semiconductor grade power electronic devices, when seamlessly integrated with other marine vessel's power management system, hybrid gearbox, battery or ESS (Energy Storage System) as well as BOS's HMI and control system, are the cornerstone to delivering a smart energy efficient micro grid and an intelligent energy management system to maritime users.

Mr. Vincent Lim, Chief Executive Officer of BH Global highlighted that "The System Integration

Engineering solutions by BOS will support Singapore's push for greater adoption of hybrid-electric propulsion systems in its maritime industry. It is in-line with BH Global's transformation roadmap in building a sustainable future through Environmental, Electrification and Digitalisation initiatives."

Commenting on the signing of agreement, Mr. Bryan Koh, Managing Director of BOS emphasized "In our course to deliver both environmentally sustainable and decarbonizing solutions in the marine and offshore sector, we have been relentlessly searching for marine certified high energy efficiency electrification equipment for years. The maritime industry is undergoing a major transformation due to the increase in global digitalization and decarbonization efforts. Today, BOS's Hybrid/Full Electric System Integration of the DANFOSS high efficiency power drivetrain products, offers a supreme decentralized DC power management system to future green marine vessel operations in Singapore water. This strategic partnership will strengthen both companies' collaborations to seize growth opportunities in maritime electrification."

Mr. Manuel Ong, General Manager of Danfoss Singapore Pte Ltd commented "We believe in building our business solutions based on sustainability. Our modular and compact product designs are a critical asset in small marine vessel operation where space and weight are very limited. Our technology also guarantees the highest efficiency. These factors, along with our strong industry track-recordand global presence, is the reason for BOS to engage us on this strategic system integration relationship. Together with BOS's experience in Project Management and System Integration capabilities, both companies are working towards contributing to maritime decarbonization efforts"

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About BH Global Corporation Limited (Bloomberg Code: BHGM.SP)

BH Global Corporation Ltd is an established group providing comprehensive solutions in Electrical and Technical Supply, Integration Engineering, Green LED Lighting, Cyber Security and Infrared Thermal Sensing Technology to a multitude of industries across the globe. With more than half a century of experience and presence in the marine and offshore, oil and gas, industrial, petrochemical and commercial sectors, the Group has built strong synergies and expertise that strategically position it to develop turnkey solutions focused on electrification, digitisation and environmental sustainability. Through excellent research and development and project management capabilities, BH Global has a unique platform which is proficient in producing integrated solutions to capture growth opportunities, executing swift and impactful value-added services to its clients worldwide.

For more information, please refer to the website, www.bhglobal.com.sg

About BOS Marine & Offshore (BOS)

BOS is a Project Management Engineering company with expertise and services in Project and Procurement Management for marine and offshore projects, Design and Engineering which covers all aspects of EIT (Electrical, Instrumentation, Telecommunication) design and FEED (Front End Engineering Design), and Mobile Electrification Engineering to provide electric propulsions for small vessels.

BOS is also the exclusive marine distributor of renowned Future Pipe Industries (FPI)'s GRE (Glass Reinforced Epoxy) pipes in Singapore, Japan and Vietnam. BOS pays meticulous attention to details in engineering design, assists clients to develop customized solutions from initial evaluation to project planning and execution, to installation and commissioning, including on-going maintenance. This ensures seamless integration in order to minimize expenditure and maximize operational efficiency.

For more information, please refer to the website, www.bos-sg.com

About Danfoss

Danfoss engineers advanced technologies that enable us to build a better, smarter and more efficient tomorrow. In the world's growing cities, we ensure the supply of fresh food and optimal comfort in our homes and offices, while meeting the need for energy-efficient infrastructure, connected systems and integrated renewable energy. Our solutions are used in such areas as refrigeration, air conditioning, heating, motor control and mobile machinery. Our innovative engineering dates back to 1933 and today, Danfoss holds market-leading positions, employing 28,000 people and serving customers in more than 100 countries. We are privately held by the founding family.

For more information, please refer to the website, www.danfoss.com

About Danfoss Editron Oy

Danfoss Editron Oy specializes in hybrid and electric powertrain systems for off-highway and marine markets. A business division of Danfoss, it develops and manufactures high-performance power systems for heavy-duty vehicles, machines and marine vessels, based on its unique synchronous reluctance assisted permanent magnet technology. Danfoss Editron Oy powertrains deliver market- leading efficiency and are suitable for hybrid and electric applications within the power range of 30kW to 2,000kW.

Danfoss EDITRON is the complete electric drivetrain system developed by the company. It is controlled by powerful software that optimizes each individual component of the electric or hybrid drivetrain, leading to far more intelligent management of power distribution in order to deliver maximum efficiencies for the end user.

With operations in Lappeenranta, Finland and Colorado, United States of America, Danfoss Editron has assembled an award-winning team to work on the technologies that will enable the world of tomorrow to do more with less.  

For more information, please refer to the website, www.danfoss.com/editron

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