Cost Plus eyes going global, seeks investors at HK battery tech expo
Cost Plus Inc., a Filipino tech company focusing on building off-grid plants, is eyeing to expand to the global market, seeking foreign investors as it represented the country at the Battery Show Asia and Mobility Tech Expo in Hong Kong.
In a news release on Tuesday, Cost Plus said it partnered with the Department of Trade and Industry (DTI) to represent the Philippines at the battery and energy storage technology expo held from July 15 to 17, 2025.
Cost Plus showcased its energy innovation, Kidlat EV—a system designed to power underserved communities.
'It's not just about electricity… It's about enabling education, internet, clean water, and sustainable cooking in communities that need it most. We've proven it works here—and now we're scaling globally to help the 800 million people still without reliable energy,' said CostPlus founder and president Anand Mahtani.
'Bringing our products for the world to see—and seeing people's reactions—gives us immense validation,' he added.
Cost Plus said its Kidlat EV system has already powered over 27,000 homes, schools, and community hubs in the Philippines, was among the expo's standout solutions.
'We're proving that Filipino innovation can improve lives, not just at home but across the globe,' said Mahtani.
For his part, John Yzrael Nalda of the DTI Export Marketing Bureau said, 'This event creates new opportunities for Philippine companies to expand their reach and grow our exporter base.'
Nalda said that 'organizers are now recognizing Southeast Asia as a key player in electric vehicles, critical minerals, and mobility solutions.'
Likewise, DTI Hong Kong Vice Consul for Commercial Roberto Mabalot Jr. said the government's cited push to strengthen trade and technology ties in the region, adding that participating in global expos would help boost the economy through increased investment and job opportunities for Filipinos. — Ted Cordero/BM, GMA Integrated News
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
GMA Network
6 hours ago
- GMA Network
Concessions in trade deal with US won't result in 'significant damage to local industries'
President Ferdinand "Bongbong" Marcos Jr. meets with US President Donald Trump in the Oval Office at the White House in Washington, D.C., July 22, 2025. REUTERS/ Kent Nishimura The Philippine Chamber of Agriculture and Food Inc. (PCAFI), an umbrella organization of 48 various agriculture industry groups, on Friday welcomed the government's move not to give zero duties for American agri-fisheries entering the country following the recent tariff negotiations between President Ferdinand "Bongbong" Marcos Jr. and United States President Donald Trump. 'We commend the government's trade negotiators for protecting critical local agriculture industries in the negotiations,' PCAFI said in a statement. 'Secretary [Frederick] Go clearly stated that vital agricultural industries like sugar, corn, rice, chicken, pork, and seafood were not part of the concessions, thus keeping their current protection in the form of tariffs and other measures,' the agribusiness group said. Go, Marcos' special assistant for investment and economic affairs, announced that the Philippines did not include key agricultural commodities in the concessions it gave out when it negotiated to lower the reciprocal tariff for the country's exports to the US. Early morning on Wednesday (Philippine time), Trump announced a new 19% tariff rate for Philippine goods entering America. This is lower than the 20% announced in a letter earlier this month but higher than the 17% rate announced last April on what the US president referred to as Liberation Day. Trump initially said the Philippines was going "open market" with the US with zero tariffs, while the Philippines would pay a 19% tariff. Marcos, however, has since clarified that the zero tariffs on US products would only apply to certain markets, such as automobiles. The President also committed to increasing imports of soy, wheat, and pharmaceuticals from the US. 'The two clear concessions that the Philippines made—wheat and soy products—will not result in significant damage to local industries but may even yield positive results in the form of cheaper animal feed products,' PCAFI said. 'It is also worthy to note that these two products are not produced locally and are already among the top agricultural imports of the country from the United States,' it added. The agribusiness group said it hopes the government will continue to protect the interests of local farmers and fisherfolk 'who remain as the lifeblood of our country's food security.' 'We will remain vigilant in the ongoing bilateral negotiations since the final trade deal has yet to be finalized,' it said. On the reduction of the tariff rate the US will charge on goods from the Philippines from 20% to 19%, PCAFI said it is still a 'positive development' but expressed 'hope that the US tariffs can be reduced further for the benefit of our agricultural exporters.' 'The silver lining of the recent developments is the fact that the Philippines has the second-lowest tariff rate among Southeast Asian countries, giving us a tariff advantage against neighboring countries that produce and export almost the same agricultural products as ours,' the group said. 'They were able to lower the tariff rate at minimal costs to the country compared to other countries like Vietnam and Indonesia that had to sacrifice a lot, as what Special Assistant to the President for Investment and Economic Affairs Frederick Go mentioned,' it added. —VBL, GMA Integrated News
GMA Network
12 hours ago
- GMA Network
PetMarra Joins the International Pet Summit: A Forefront of Pet Care And A Committed Partner in Veterinary Excellence
PetMarra continues to take strides in the field of pet health and wellness as it proudly participates in the International Pet Summit 2025, a prestigious event organized by the Philippine Veterinary Drug Association Foundation (PVDA). Happening this August 22–24 at SMX Manila Convention Center, the summit brings together pet lovers, veterinarians, pet care professionals, advocates, and pet brands, with one shared mission: elevating the standards of animal health and welfare across the country and beyond. This year's theme, 'A Tribute to Filipino Pet Owners,' shines a light on the deep connection between Filipinos and their pets. PetMarra is proud to be part of this celebration, championing the uniquely Filipino approach to pet care, rooted in unconditional love, loyalty, and a strong sense of community. As a trusted name in pet nutrition and wellness, PetMarra's participation in the International Pet Summit reflects its strong commitment to science-based care and its continued collaboration with the veterinary community. This relationship ensures that PetMarra's products are not only effective, but also meet the pet food standards of safety and quality, as its products exceed Association of American Feed Control Official (AAFCO) nutritional guidelines and are registered under the Bureau of Animal Industry (BAI). PetMarra aims to contribute meaningfully to the pet community by showcasing its range of high quality, vet recommended products and joining key discussions on responsible pet ownership, disease prevention, and nutritional innovation. To make the summit experience even more memorable, PetMarra has prepared a line-up of activities for furparents, including fun and interactive games, pet tips, photo booth and exciting FREE product giveaways. It is more than just an event, it's a celebration of pet care and the warm, compassionate community that continuously grows. Marking a new chapter in its advocacy, PetMarra strengthens its role in pet owners with veterinary professionals, ensuring that every fur family receives informed, expert-backed care. By uniting innovation, expert care, and heart, PetMarra proudly stands with Filipino pet owners and the veterinary community. With every product, every initiative, and every connection PetMarra builds, the brand remains committed to one goal - to create a healthier and happier future for every pet and every fur family. Paid partnership with Petmarra
GMA Network
14 hours ago
- GMA Network
Cerberus eyes P15-B new investments in PH
Cerberus' investment announcement came following the meeting between President Ferdinand 'Bongbong' Jr. and US President Donald Trump in Washington D.C. early this week. American alternative investment firm Cerberus Capital Management is investing an additional P15 billion ($250 million) for new projects in the Philippines over the next 12 months. Cerberus' investment announcement came following the meeting between President Ferdinand 'Bongbong' Jr. and US President Donald Trump in Washington D.C. early this week. The investment firm said its planned investments in the Philippines include further upgrades to the Agila Subic Shipyard, as well as new projects in logistics, energy, and transport infrastructure. 'We're encouraged by the progress we've seen and by the strong support from the Philippine government,' said Cerberus Managing Director Alexander Benard. 'We believe the Philippines holds significant long-term potential as a regional hub for industrial and logistics activity. We look forward to building on this momentum and supporting the development of our key strategic assets in the Philippines,' said Bernard. Cerburus recalled that in 2022 it made a landmark investment in the Philippines by acquiring and revitalizing the former Hanjin Shipyard in Subic Bay — now known as the Agila Subic Shipyard. The investment firm acquired the Hanjin Shipyard for $300 million. The shipyard now hosts major tenants including HD Hyundai Heavy Industries — the world's largest shipbuilder — SubCom, a global leader in subsea cable systems, V2X, a publicly listed logistics firm, and the Philippine Navy, which operates a portion of the facility. Cerberus said that HD Hyundai Heavy Industries, originally slated to begin shipbuilding operations in January 2026, is now set to commence ahead of schedule, with a steel-cutting ceremony planned for the last quarter of 2025. Beyond Subic, the company said it is pursuing additional investments in critical infrastructure and logistics projects across the country. — BAP, GMA Integrated News
