Worley (ASX:WOR) has announces joint venture

Company News

by Ortenzia Borre

Worley (ASX:WOR) has announced a joint venture for microgrids and distributed energy systems.

Worley Group Inc, a subsidiary of Worley Limited, and XENDEE Inc. have created VECKTA Corporation, a USA incorporated joint venture.

VECKTA will offer a cloud-based market platform which will link XENDEE’s core energy configuration software with a global network of equipment, finance and project delivery providers supported by Worley.

The VECKTA joint venture builds on the Worley and XENDEE relationship established in 2018.

Worley CEO Andrew Wood believes the VECKTA market platform will be a valuable service offering to the power sector.

Shares in Worley (ASX:WOR) closed 0.69 per cent lower at $14.30 cents yesterday.