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Starfleet Innotech, Inc. Launches New Energy Division, Focusing on Electric Vehicles (EV) for Public Transport

Press Release
Release date:
October 30, 2023

[New York, USA October 30, 2023] Starfleet Innotech, Inc. (OTC:SFIO) is excited to unveil its pioneering Energy Division.This strategic expansion underscores Starfleet's unwavering commitment to environmental sustainability and green technology.

Jeths Lacson, CEO of Starfleet Innotech, Inc., is optimistic about the project and its potential to revolutionize public transport. He states, "Our Energy Division marks a new era for Starfleet and the entire public transport community. We are venturing into this space with the aim of bringing not only cleaner and more cost-effective transport solutions but also a positive change for the environment. This is an opportunity that will not only benefit our communities but also leave a lasting mark in this industry."

Starfleet's Energy Division will focus its initial efforts on partnering with public transport cooperatives and importing and distributing Electric Vehicles (EV) in the Philippines. The program encompasses a wide range of vehicles, from jeepneys to buses, taxis, tricycles, with the ambitious goal of converting at least 15,000 traditional public transport vehicles to EVs in the first three years of the project. This initiative is poised to usher in an era of cleaner and more sustainable mobility options in the Philippines, catering to a vast market that includes over 200,000 jeepneys, 16,000 buses, 3.5 million tricycles, and 140,000 taxis.

In tandem with this transformative initiative, Starfleets IT division is actively developing a cutting-edge platform and mobile app, designed to streamline fleet management, enhance payment processes, simplify bookings, and introduce innovative features such as mobile ad booking, all to elevate the EV user experience.

For the successful execution of this groundbreaking project, Starfleet has joined forces with local partners in the Philippines who are working closely with dealers, operators, and cooperatives. This collaborative approach is key to the efficient rollout and ongoing management of the program.

The adoption of EVs in public transport will bring numerous benefits to the community and the environment, including reduced emissions, lower operating costs, and improved air quality.

To meet the increasing demand for EVs, Starfleet has entered into definitive supply and distribution agreements with local dealers and public transport cooperatives. These agreements solidify the company's commitment to bringing this visionary project to life.

Starfleet has already taken significant steps towards achieving this goal by partnering with a major EV manufacturer in China, a renowned global supplier. This partnership will ensure a consistent supply of EVs to meet the growing demand.

In a significant development, Starfleet Innotech Philippine Holdings Corporation, the subsidiary company responsible for managing and implementing the new Energy Division, has undergone a restructuring. This restructuring involves the appointment of a new Chairperson and CEO, Annabelle Cueva, along with other key executives. Annabelle Cueva represents the ownership of the UK investors in Starfleet Innotech (SFIO) Philippine Holdings Corporation, who are investing in the new Energy Division through Starfleet Philippines. Under this restructured framework, Starfleet Innotech, Inc., the US-based holding company, will hold the majority control and management of the subsidiary company, with Jeths Lacson continuing in his role as the appointed President of the subsidiary.

The new structure and division under Starfleet Innotech, Inc. are expected to become a major driver in maximizing shareholder value as the company applies for an eventual uplisting to a major stock exchange in the future.

Demonstrating its dedication to electrifying public transport, Starfleet has actively participated in industry events and roadshows. Notably, the company recently showcased its range of cutting-edge EV vehicles at the Commercial Vehicle Show 2023, held at the SMX Convention Centre in the Philippines. This platform generated excitement and anticipation within the industry.

The initial delivery of EV buses is expected to commence in the Philippines in early 2024, with demo vehicles already available for preview. Starfleet Innotech, Inc. is committed to creating a sustainable future and leading the way in transforming public transportation, offering a cleaner, greener, and more efficient future for communities across the Philippines.

Note: Details of the key partnerships, agreements, and the size of the deals will be communicated in a separate press release.

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