KUALA LUMPUR: Fast Energy Holdings Bhd is seeking to expand its footprint in the energy space by exploring opportunities within renewable energy.
The company recently completed a name change from Techfast Holdings Bhd, following a re-branding exercise to better reflect its refreshed corporate strategy.
Fast Energy executive director Vincent Tan Wye Chuan said globally, the company was seeing demand for cleaner and sustainable energy gaining more traction from all quarters such as residential, commercial and industrial sectors.
"We intend to capitalise on the rise in demand for alternative energy, especially from organisations wanting to enhance their Environmental, Social and Governance (ESG) performance with the transition to renewable energy," he said in a statement today.
As part of its plans, Fast Energy has incorporated a wholly-owned subsidiary Fast Solar Sdn Bhd to undertake prospects in the fast-growing renewable energy industry, particularly in solar power.
Its intended principal activities include the investment in solar projects, as well as the design, construction, operation and trade of solar-related products.
Fast Energy's venture into the solar market is one of its initiatives towards becoming a diversified energy player, enabling it to expand its revenue streams and scope of services.
In March 2021, Fast Energy diversified into the petroleum trading and oil bunkering business.
To date, it has secured several contracts to deliver a range of marine fuel oils to "renowned"customers at an estimated RM4.2 billion.