This Channel Partner Agreement is set to make waves in Taiwan’s shipping industry and beyond.

December 14, 2022 (Vancouver/ Unceded Territories of the Musqueam, Squamish, and Tsleil-Waututh Nations) - Shift Clean Energy (Shift) announces today that it has entered into a Channel Partner Agreement with Billion Electric, a prominent and experienced provider of power electronics and network communication technology, utilizing Shift’s PwrSwäp technology. As a result of this partnership, Billion Electric now has the exclusive rights to distribute Shift’s energy storage solutions in Taiwan.

Brent Perry, CEO and founder of Shift, said: “We are excited and honored to partner with Billion Electric, an industry leader. We are proud to support this forward thinking organization in reaching its ESG goals. The only way to tackle climate change is by working together. This partnership marks an important milestone in the scaling of Shift’s technology and is a crucial step towards decarbonizing Taiwan’s transportation industry.”

Mitigating climate change is a priority for the Taiwanese government. The National Development Council of Taiwan announced a budgetary plan of "Transforming To Net Zero", aiming to achieve zero emissions by 2050. Focused on transitioning the energy, industrial, lifestyle, and social sectors to clean energy, the Taiwanese government has established a budget of nearly NT$900 billion with electric transport accounting for NT$168.3 billion. Billion Electric will be able to utilize Shift’s leading edge technology to help decarbonize Taiwan’s marine industry and convert existing marine micro economies such as wind farms, ports and ferry terminals to zero emission in operations.

Tim Chen, Chairman and Chief Executive Officer of Billion Electric, commented: “Though most of the budget makes up for electrifying land transportation, such as electric vehicles, electric buses, and electric bicycles, electrifying sea transportation empowered by electric ships and marine vessels is a critical action that can be undertaken by large-scale corporate shipbuilders to decarbonize the industry. We are beyond thrilled to announce our partnership. Shift’s PwrSwäp technology can open doors for shipbuilders who are looking to achieve carbon neutralization by reducing the upfront costs and providing clean energy with more reliability and less risk."

Shift’s PwrSwäp technology obliterates the roadblock many shipping companies face when looking to decarbonize—costs. Unlike traditional energy storage systems, PwrSwäp is the first pay-as-you-go energy subscription-service that allows ships to utilize and pay only for the energy that is needed. PwrSwäp provides instant clean, renewable energy to ships without risk or obligations, streamlining the transition from diesel powered to hybrid or fully electric.

The partnership between Shift and Billion Electric is an impactful step towards decarbonizing the marine industry in Taiwan, Asia, and beyond. This partnership will allow Shift to scale its reach throughout Taiwan, lowering carbon emissions and driving the marine industry towards a net-zero future. Shift is rapidly growing with headquarters in the US, UK, and the Netherlands and Shift is currently in the process of building a location in Singapore.

About Shift Clean Energy

Shift Clean Energy provides energy storage solutions to decarbonize the marine transport industry and other hard-to-abate sectors. Shift enables customers to meet their climate action and ESG goals with clean energy solutions based on leading-edge energy storage systems. Understood to be the safest and most reliable energy storage solutions on the market today, and the first commercial marine solutions company to offer pay-as-you-go PwrSwäp subscription energy systems. Customers save money from day one through electrification, integrating ESS and renewable energy for both commercial and maritime applications. Shift now has offices in the US, UK, and the Netherlands, with a new office under construction in Singapore. Join us on our mission to zero emissions.

About Billion Electric

Billion Electric Co., Ltd. (TSE: 3027), the world-leading company of green energy, networking ICT solutions, power suppliers, and battery storage system founded in 1973. Headquartered in Taipei with a subsidiary in the USA has continued offering comprehensive product solutions for various partners and driving transformation across green industries, business models, and experiences for the past 50 years. Today, our employees act as responsible global citizens by introducing technological solutions that halt the speed of global warming. To address these needs, our development team is committed to providing cutting-edge technology, whilst maintaining our environmental responsibilities.