Excelpoint’s Wholly-owned Subsidiary, Planetspark, Undertakes An Investment Of US$2 Million In Meridian Innovation

Singapore, 12 June 2019 – SGX mainboard-listed Excelpoint Technology Ltd. (“Excelpoint” or the “Group”), is pleased to announce that its wholly-owned subsidiary, PlanetSpark Pte. Ltd. (“PlanetSpark”), the Group’s entrepreneurial and investment arm, has undertaken an investment of US$2 million in Meridian Innovation Pte. Ltd. (“Meridian”), a Singapore-based company developing Thermal Imaging Sensor based solutions for commercial and consumer applications that will enable safer and better living.

With its design house incubated in Singapore, Meridian’s thermal sensors are the first to be integrated with the Complementary metal–oxide–semiconductor (“CMOS”) technology, allowing the manufacturing process for their thermal cameras to be easily scaled for high- volume production. Since they surfaced at the recent CES show in Las Vegas, their products have gained the attention of big players within the industry. This week, Meridian is also exhibiting at the Shanghai CES show.

“Meridian’s technology is distinctive because it utilises a unique patented technology that allows for a more simplified process flow and enables mass production at a very competitive cost. The market potential is great as it can be incorporated into many commercial and consumer applications, which are synergistic with Excelpoint’s focus segments. We are very excited for this collaboration and together with our strong engineering capabilities and footprints, we look forward to creating positive impacts across global markets,” said Mr. Albert Phuay Yong Hen, Chairman and Group Chief Executive Officer of Excelpoint Technology Ltd.

As a leading regional business-to-business platform providing quality electronic components with integrated research and development capabilities and value-added design solutions, Excelpoint has been an integral part of the global electronics technology value chain for more than 30 years.

Continuing its strategic focus on collaborating with start-ups, PlanetSpark continues to be a key platform for them in Asia Pacific to accelerate their growth, commercialise and stay ahead of the innovation curve in the global electronics and technology industries.

Mr Hock Leow, Chief Executive Officer of Meridian said, “Meridian is honoured to have Excelpoint as an investor. We are also excited and privileged to work with their strong engineering support and extensive distribution networks in Asia. Meridian believes that thermal imaging sensor-based solutions will experience explosive growth in the IoT and consumer markets in the near future.”