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SINGAPORE: German technology company, Bosch, is pumping S$30 million over the next five years into a regional research centre in Singapore.
As the first such centre for Bosch in Asia, it will focus on research and development for renewable energy technologies.
This latest investment comes on top of the S$92 million that Bosch has already committed to building its regional headquarters in Singapore.
Bosch will also be working with Nanyang Technological University (NTU) to find cheaper ways to tap solar energy.
The two parties are working to design a more cost-effective type of photovoltaic cell that can be used in more devices than the existing thin film technology.
Speaking at the opening ceremony for the centre on Wednesday, Senior Minister of State for Trade and Industry S Iswaran said clean energy is a key growth sector for Singapore.
The country already has major investments from big players like Renewable Energy Corporation, Oerlikon Solar and Norsun.
Mr Iswaran said: "In June this year, we set aside another S$20 million under the Solar Capability Scheme to encourage private enterprises to integrate solar technologies into energy-efficient buildings.
"The focus at Bosch in photovoltaics - whether silicon-based or organic - (this) will fit right in and be able to leverage off the broader efforts that we have here in Singapore."
Thirty associates from Bosch and a group of PhD and undergraduate students from NTU will be involved in research at the centre.
Based on how successful this project is, Bosch also plans to conduct research for products from other sectors at the centre in Singapore.
- CNA/so
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