JM Newton Energy, a Malaysian green-tech services provider specialising in energy management, announced today it has raised MYR2.9 million (US$711,000) through equity crowdfunding (ECF) platform Ata Plus.
As many as 11 investors (of which three are female) participated in the campaign, which, as per a press statement, was oversubscribed by 954 per cent.
Approximately 60 per cent of the funds raised will be invested in JM Newton’s working capital to accommodate the increasing demand for its products and services. The remainder will be channelled towards furthering R&D to strengthen product efficiency and expand the team.
JM Newton started its operations in 2019 as a one-stop integrated total energy management solutions provider, focused on the development of energy efficiency enhancement technology using green technology applications.
JM Newton provides turn-key technological solutions for shopping malls and hypermarkets, aimed at promoting energy savings without additional cost or risks.
It claims its eco-friendly and green-qualified patented systems and solutions have been applied to a range of shopping centres and hypermarket chains in the country. It will continue to apply the solutions through the energy management contracts which it has secured over the next five to 10 years.
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