MediSun Energy, a company specialising in advanced osmotic (blue) energy technology, has secured US$8.75 million in Seed financing.
Vynn Capital’s Mobility and Supply Chain fund led the round, which brought the company’s valuation to US$44 million.
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Saudi Arabia-based MOAJ Holding, Frank Phuan, TNB Aura, and Ciri Ventures also joined.
The funding comprises US$5 million in venture debt and US$3.75 million in equity financing.
MOAJ Holding Co. has also committed to investing up to US$30 million into MediSun’s Saudi Arabia business to form a local joint venture.
This investment will accelerate MediSun’s expansion into the Middle East and North Africah (MENA) region and enhance its research and development capabilities.
MediSun plans to establish two facilities: one dedicated to membrane production and the other for stack production.
MediSun Energy aims to make the planet greener and better through its zero-brine technology, which provides clean energy and contributes to a more sustainable future. Its WEGen technology utilises osmotic power to enhance energy efficiency in water desalination and generate renewable energy.
Dusun Kim, founder and CEO of MediSun, sees this partnership as a major milestone that will enable the company to scale its operations, bring its solutions to new markets, and address critical environmental challenges.
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Vynn Capital believes that MediSun’s solutions are crucial in solving water supply chain and scarcity issues while achieving net-zero carbon goals by reducing energy consumption. Victor Chua, Founding & Managing Partner of Vynn Capital, sees the potential of this technology for industries beyond water, such as mobility and industrial sectors, that require innovative energy management solutions.
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