MediSun Energy, a company specialising in advanced osmotic (blue) energy technology, has successfully raised $8.75 million in a Seed financing round and entered into a strategic partnership with Southeast Asian venture capital firm Vynn Capital. The funding includes $5 million in venture debt and $3.75 million in equity financing, bringing MediSun’s valuation to $44 million.
This funding represents a major investment from Vynn Capital’s Mobility and Supply Chain Fund, backed by Malaysian institutional investors and other regional partners.
The financing round, led by Vynn Capital, attracted several prominent investors, including MOAJ Holding, a leading Saudi investment firm; Frank Phuan, a notable clean energy entrepreneur; TNB Aura, participating through its Scout Initiative; and Ciri Ventures, a climate-tech-focused venture capital firm.
Additionally, MOAJ Holding has committed to investing up to $30 million to establish a local joint venture for MediSun’s operations in Saudi Arabia, further solidifying its footprint in the MENA region.
The partnership will facilitate MediSun’s rapid expansion into MENA and boost its R&D capabilities. The company plans to establish two key facilities membrane production plant and stack production facility. These developments are aimed at scaling MediSun’s osmotic energy solutions to meet growing global demand for sustainable energy alternatives.
“This collaboration with Vynn Capital and other esteemed partners is a significant milestone for MediSun Energy as we aim to redefine the renewable energy landscape,” the company stated in a joint release.
Dusun Kim, Founder & CEO of MediSun said, “At MediSun, we are dedicated to making the planet greener and better. Our zero-brine technology not only provides clean and green energy but also contributes to a more sustainable future. This partnership with Vynn Capital is a major milestone that will enable us to scale our operations and bring our innovative solutions to new markets. We are committed to leveraging this opportunity to further our mission of addressing the critical environmental challenges.”
Victor Chua, Founding & Managing Partner of Vynn Capital added, “MediSun’s solutions are crucial in solving water supply chain and scarcity issues while achieving net-zero carbon goals by reducing energy consumption. Over the medium term, we believe such technology can also be crucial for other industries, such as mobility and industrial sectors, that require innovation in energy management. This is especially important with the narrative of Malaysia and Southeast Asia playing a larger role in the renewable energy sector. Our investment in MediSun reflects our belief in the team’s vision and our commitment to supporting groundbreaking technologies that have a positive impact on the environment and society.”
