Nocera and INERGX form 50/50 energy joint venture

Nocera, Inc. (NASDAQ: NCRA) announced it has entered into a binding term sheet with INERGX Energy Optimisation Ltd to form Nocera-INERGX Energy Ventures, Inc., a 50/50 joint venture targeting acquisitions across the energy supply chain serving AI data centers, defense, and heavy industry.

The joint venture is expected to pursue opportunities in battery energy storage systems, distributed energy infrastructure, AI-enabled energy management, power electronics, battery technologies, renewable energy, and direct infrastructure ownership.

The parties have set an objective of building INERGX to a valuation of $250 million. Nocera previously ascribed a minimum current valuation of $65 million to INERGX in connection with a prior equity investment announced in July 2026. The independent valuation process has not been completed, and no valuation conclusion has been issued. The $250 million figure is a stated objective and not a confirmed or realized value.

Under the structure, Nocera will organize and form the joint venture entity and handle corporate administration, while INERGX or a designated affiliate is expected to serve as asset manager for day-to-day operations. Each party retains equal economic participation and equal governance rights, subject to a definitive agreement to be negotiated within 90 days.

The announcement follows Nocera's July 29, 2026 disclosure that it acquired a 30% controlling interest in QMAX Technology Co., Ltd., a Taiwan-based memory and storage solutions company.

"Owning a stake in a company and building a company alongside it are two very different things, and we intend to do both," said Andy Jin, Chief Executive Officer of Nocera.

Formation of the joint venture remains subject to execution of a definitive agreement and required corporate, regulatory, Nasdaq, and SEC approvals. According to MarketsandMarkets data cited in the announcement, the global battery energy storage system market is estimated at $50.8 billion in 2025 and projected to reach $106.0 billion by 2030.

You May Also Be Interested In

• Elroy Air wins $46M U.S. Army contract for cargo drone system
• Global Interactive Technologies receives Nasdaq non-compliance notice
• Two Harbors receives final approval for CrossCountry Mortgage merger