Acme international to develop aquavoltaics solar project in the Philippines

Acme International Holdings Limited, through its wholly-owned subsidiary Green Empire Developments Limited ("GED"), has entered into a co-development agreement with Gainza Energy Corporation ("GEC") on November 18, 2025. This agreement aims to form a joint venture company, or "Project Company," to develop a 40MWh aquavoltaics solar power project in Buhi, Camarines Sur, Philippines. GED and GEC will subscribe for 70% and 30% of the Project Company's equity interests, respectively, and will contribute to operational and development costs proportionally. GED may also provide an interest-bearing shareholder's loan if needed.

The Project Company will be established within two months of GED completing its due diligence on the development project. GEC has granted GED a six-month exclusivity period to finalize agreements and incorporate the joint venture. The board of directors for the Project Company will consist of three members, with two nominated by GED and one by GEC.

This initiative aligns with Acme International's strategy to expand its green power energy business in Southeast Asia and become a major producer in the region. The development project is expected to generate additional revenue and enhance profitability, leveraging GEC's expertise in renewable energy and Acme International's financial resources.