en.Wedoany.com Reported - H2 Energy, a subsidiary of Annica Holdings, has secured a contract from Universiti Malaysia Sarawak to deploy a solar-powered hydrogen production off-grid energy system in Sarawak. The solar hydrogen project is scheduled to commence implementation by the end of June 2026, encompassing the design and deployment of an integrated solar power generation, hydrogen storage, and off-grid power system.

The solar hydrogen project originates from a non-binding memorandum of cooperation signed in 2024, and this contract marks the transition of the relevant plan into a commercial project phase. Targeting the power supply needs of certain remote areas in Sarawak, the solar hydrogen system can utilize photovoltaic power generation during the day and enhance power supply continuity in off-grid scenarios through hydrogen storage. H2 Energy will be responsible for the system design and project implementation arrangements.

Annica Holdings is concurrently advancing a renounceable rights issue, with a maximum issuance of approximately 168 million new shares at an issue price of S$0.034 per share. If fully subscribed, it is expected to raise approximately S$5.23 million, equivalent to about US$4.09 million, with the proceeds to be used for renewable energy project development, working capital, investor relations, and debt reduction. As the solar hydrogen project enters the implementation phase, Annica Holdings will continue to advance its renewable energy business operations in Malaysia.

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