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Grand Venture Technology embarks on the next chapter of global growth as Aalberts completes the privatisation of the company
SINGAPORE, Oct. 31, 2025 /PRNewswire/ -- Novo Tellus, a leading private equity fund focused on building industrial and technology companies, is pleased to announce the successful completion of its investment in Grand Venture Technology ("GVT" or the "Company").
Novo Tellus inaugurated its partnership with GVT in March 2021, when it invested in S$ 30 million at S$ 0.33/share to help fund a significant build-out of GVT's manufacturing capacity and capabilities.
Over the last 4 years, Novo Tellus has worked closely with GVT to help grow the company's capabilities, customers, vertical industries, capacity and productivity resulting in significant earnings and equity growth.
In July 2025, GVT announced an offer by global manufacturing leader Aalberts Advanced Mechatronics to acquire the company at a S$ 0.94/share. The transaction was closed on 27 October 2025, marking the conclusion of a successful partnership between Novo Tellus and Grand Venture Technology.
Reflecting on the transformative growth at GVT over the last 4 years, CEO Julian Ng said, "we're proud of what our management team accomplished in partnership with Novo Tellus, and with the support of our strategic customers and dedicated employees.
In the last 4 years, GVT has:
- Grown into a leading manufacturing supplier for top global semiconductor equipment companies. We built a new factory in Penang, grew specialised manufacturing capabilities, and worked tirelessly with our customers to help them push the leading edge of semiconductor manufacturing today. One highlight of this effort was winning the "Best Supplier Award Recognition" from one of our strategic customers, LAM Research.
- Completed 3 successful M&A acquisitions in Singapore, Malaysia and China to accelerate the buildout of our talent, capabilities and scale for our customers.
- Grown our investor relations program and attracted new capital and support from global blue-chip asset managers.
We will miss working with our trusted partners at Novo Tellus, but look forward to being a meaningful part of Aalberts to advance their global manufacturing business successfully in Asia".
"We've been privileged to have worked with the talented leadership at Grand Venture Technology", said Loke Wai San, Managing Partner of Novo Tellus, adding that "although we are proud to have been partners in such transformative growth, we are grateful to Executive Deputy Chairman Ricky Lee, CEO Julian Ng, and all the leaders and employees of GVT for their relentless efforts to realise an ambitious vision of GVT's future in the last few years.
We thought it appropriate this year that Julian Ng and Robby Sucipto won the 'CEO of the Year' and 'CFO of the Year' awards respectively at the Singapore Corporate Awards 2025, a worthy recognition of their enormous accomplishments in the last few years.
Grand Venture Technology embodies the Novo Tellus aspiration to build lasting businesses, and we hope our stewardship has created the foundations and momentum for lasting growth as GVT flourishes under the ownership of Aalberts NV going forward".
About Grand Venture Technology
Founded in 2012, GVT is a fast-growing and trusted solutions and services provider for the manufacture of complex precision machining, sheet metal components and mechatronics modules. Its manufacturing plants in Singapore, Penang and Johor (Malaysia), and Suzhou (China) are backed by the latest automated manufacturing technologies, Class 10,000 cleanroom facilities and a certified quality management system. The Group's highly experienced and dedicated team of engineering talent serves a strong global network of established partners and suppliers with a wide range of engineering, assembly, testing and product life cycle management solutions. GVT's portfolio of customers hail from the semiconductor, electronics, analytical life sciences, aerospace, medical and industrial automation industries, and represent some of the largest OEMs in their respective markets. To learn more about Grand Venture Technology, visit gvt.com.sg
About Novo Tellus
Novo Tellus is a private equity firm focused on building lasting technology and industrial companies in Southeast Asia. The firm is distinguished by its deep insight into shifts in the global technology ecosystem, and by its active and empathic partnerships with management teams to build lasting businesses and superior investment returns.
To learn more about partnering with Novo Tellus, visit novotellus.com
Grand Venture Technology embarks on the next chapter of global growth as Aalberts completes the privatisation of the company
SINGAPORE, Oct. 31, 2025 /PRNewswire/ -- Novo Tellus, a leading private equity fund focused on building industrial and technology companies, is pleased to announce the successful completion of its investment in Grand Venture Technology ("GVT" or the "Company").
Novo Tellus inaugurated its partnership with GVT in March 2021, when it invested in S$ 30 million at S$ 0.33/share to help fund a significant build-out of GVT's manufacturing capacity and capabilities.
Over the last 4 years, Novo Tellus has worked closely with GVT to help grow the company's capabilities, customers, vertical industries, capacity and productivity resulting in significant earnings and equity growth.
In July 2025, GVT announced an offer by global manufacturing leader Aalberts Advanced Mechatronics to acquire the company at a S$ 0.94/share. The transaction was closed on 27 October 2025, marking the conclusion of a successful partnership between Novo Tellus and Grand Venture Technology.
Reflecting on the transformative growth at GVT over the last 4 years, CEO Julian Ng said, "we're proud of what our management team accomplished in partnership with Novo Tellus, and with the support of our strategic customers and dedicated employees.
In the last 4 years, GVT has:
- Grown into a leading manufacturing supplier for top global semiconductor equipment companies. We built a new factory in Penang, grew specialised manufacturing capabilities, and worked tirelessly with our customers to help them push the leading edge of semiconductor manufacturing today. One highlight of this effort was winning the "Best Supplier Award Recognition" from one of our strategic customers, LAM Research.
- Completed 3 successful M&A acquisitions in Singapore, Malaysia and China to accelerate the buildout of our talent, capabilities and scale for our customers.
- Grown our investor relations program and attracted new capital and support from global blue-chip asset managers.
We will miss working with our trusted partners at Novo Tellus, but look forward to being a meaningful part of Aalberts to advance their global manufacturing business successfully in Asia".
"We've been privileged to have worked with the talented leadership at Grand Venture Technology", said Loke Wai San, Managing Partner of Novo Tellus, adding that "although we are proud to have been partners in such transformative growth, we are grateful to Executive Deputy Chairman Ricky Lee, CEO Julian Ng, and all the leaders and employees of GVT for their relentless efforts to realise an ambitious vision of GVT's future in the last few years.
We thought it appropriate this year that Julian Ng and Robby Sucipto won the 'CEO of the Year' and 'CFO of the Year' awards respectively at the Singapore Corporate Awards 2025, a worthy recognition of their enormous accomplishments in the last few years.
Grand Venture Technology embodies the Novo Tellus aspiration to build lasting businesses, and we hope our stewardship has created the foundations and momentum for lasting growth as GVT flourishes under the ownership of Aalberts NV going forward".
About Grand Venture Technology
Founded in 2012, GVT is a fast-growing and trusted solutions and services provider for the manufacture of complex precision machining, sheet metal components and mechatronics modules. Its manufacturing plants in Singapore, Penang and Johor (Malaysia), and Suzhou (China) are backed by the latest automated manufacturing technologies, Class 10,000 cleanroom facilities and a certified quality management system. The Group's highly experienced and dedicated team of engineering talent serves a strong global network of established partners and suppliers with a wide range of engineering, assembly, testing and product life cycle management solutions. GVT's portfolio of customers hail from the semiconductor, electronics, analytical life sciences, aerospace, medical and industrial automation industries, and represent some of the largest OEMs in their respective markets. To learn more about Grand Venture Technology, visit gvt.com.sg
About Novo Tellus
Novo Tellus is a private equity firm focused on building lasting technology and industrial companies in Southeast Asia. The firm is distinguished by its deep insight into shifts in the global technology ecosystem, and by its active and empathic partnerships with management teams to build lasting businesses and superior investment returns.
To learn more about partnering with Novo Tellus, visit novotellus.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Novo Tellus completes its transformative growth partnership with Grand Venture Technology
Novo Tellus completes its transformative growth partnership with Grand Venture Technology
- Having secured the fully driverless commercial permit in mid-November 2025, the partners have launched fully autonomous ride-hailing service via the AutoGo app.
- Initial operations cover Yas Island, with phased expansion planned for Reem, Al Maryah, and Saadiyat Islands.
- The launch marks a critical step toward the partners' goal of deploying hundreds of vehicles by 2026 and building Abu Dhabi's largest fully driverless fleet.
ABU DHABI, UAE, Jan. 17, 2026 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888) today announced that its autonomous ride-hailing service, Apollo Go, and AutoGo, a leading UAE-based autonomous mobility company, have officially launched the fully autonomous commercial ride-hailing service in the emirate. The launch of the service, now available via the AutoGo app, marks a major milestone in the commercialization of autonomous driving in the Middle East. The service has launched initially on Yas Island, where users in Abu Dhabi can now download the app to hail fully driverless rides.
The collaboration between Baidu's Apollo Go and K2's AutoGo began in March 2025, when they announced the partnership to build Abu Dhabi's largest fully driverless fleet. Building on that momentum, the companies secured one of the inaugural permits for fully driverless commercial operation in Abu Dhabi in mid-November 2025 and signed a next-phase agreement to scale the fleet to hundreds of vehicles by 2026. With the service now available to the general public through the AutoGo app, the partners are actively advancing their goal of establishing the emirate's largest fully driverless fleet.
"Moving from an initial partnership agreement to launching live, fully driverless operations for the public in a span of just a few months is a remarkable milestone," said Liang Zhang, Managing Director of EMEA at Baidu Apollo. "This speed of execution highlights the technical readiness of Apollo Go, the strong operational capabilities of our partnership, and the steadfast support of local regulatory bodies."
"AutoGo's transition to live robotaxi operations marks an important milestone in Abu Dhabi's autonomous mobility journey," said Sean Teo, Managing Director of K2. "Launching the service at the start of the year reflects our focus on execution and long-term value creation. By introducing robotaxi services in real urban environments and scaling across key districts, we are moving decisively from development to deployment—delivering autonomy that is practical, safe, and ready for everyday use."
The initial operation covers Yas Island, a premier leisure and entertainment hub in Abu Dhabi, now designated as a permitted zone for fully driverless operations. This service allows users to simply download the AutoGo app, request a ride, and experience a journey in a vehicle with no human driver behind the wheel.
Following the initial launch on Yas Island, the service will implement a phased geographic roll-out across Abu Dhabi. The expansion will begin with Reem Island, Al Maryah Island, and Saadiyat Island. Over time, the service will continue to expand across additional areas, with the long-term objective of operating across the wider Abu Dhabi emirate.
Apollo Go's rapid expansion into the UAE is backed by its industry-leading autonomous driving technology and proven real-world operational expertise. As a leading autonomous ride‑hailing service provider globally, Apollo Go has logged more than 240 million autonomous kilometers, of which over 140 million kilometers were completed in fully driverless mode. With a global footprint across 22 cities, Apollo Go's weekly ride count has recently surpassed 250,000, and the service has completed more than 17 million cumulative rides as of October 31, 2025. Looking ahead, Apollo Go and AutoGo will scale fully autonomous commercial ride-hailing services to reach more users and advance Abu Dhabi's smart city vision.
About Baidu
Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on the NASDAQ under "BIDU" and HKEX under "9888." One Baidu ADS represents eight Class A ordinary shares.
Media Contact
intlcomm@baidu.com
ABU DHABI, UAE, Jan. 17, 2026 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888) today announced that its autonomous ride-hailing service, Apollo Go, and AutoGo, a leading UAE-based autonomous mobility company, have officially launched the fully autonomous commercial ride-hailing service in the emirate. The launch of the service, now available via the AutoGo app, marks a major milestone in the commercialization of autonomous driving in the Middle East. The service has launched initially on Yas Island, where users in Abu Dhabi can now download the app to hail fully driverless rides.
The collaboration between Baidu's Apollo Go and K2's AutoGo began in March 2025, when they announced the partnership to build Abu Dhabi's largest fully driverless fleet. Building on that momentum, the companies secured one of the inaugural permits for fully driverless commercial operation in Abu Dhabi in mid-November 2025 and signed a next-phase agreement to scale the fleet to hundreds of vehicles by 2026. With the service now available to the general public through the AutoGo app, the partners are actively advancing their goal of establishing the emirate's largest fully driverless fleet.
"Moving from an initial partnership agreement to launching live, fully driverless operations for the public in a span of just a few months is a remarkable milestone," said Liang Zhang, Managing Director of EMEA at Baidu Apollo. "This speed of execution highlights the technical readiness of Apollo Go, the strong operational capabilities of our partnership, and the steadfast support of local regulatory bodies."
"AutoGo's transition to live robotaxi operations marks an important milestone in Abu Dhabi's autonomous mobility journey," said Sean Teo, Managing Director of K2. "Launching the service at the start of the year reflects our focus on execution and long-term value creation. By introducing robotaxi services in real urban environments and scaling across key districts, we are moving decisively from development to deployment—delivering autonomy that is practical, safe, and ready for everyday use."
The initial operation covers Yas Island, a premier leisure and entertainment hub in Abu Dhabi, now designated as a permitted zone for fully driverless operations. This service allows users to simply download the AutoGo app, request a ride, and experience a journey in a vehicle with no human driver behind the wheel.
Following the initial launch on Yas Island, the service will implement a phased geographic roll-out across Abu Dhabi. The expansion will begin with Reem Island, Al Maryah Island, and Saadiyat Island. Over time, the service will continue to expand across additional areas, with the long-term objective of operating across the wider Abu Dhabi emirate.
Apollo Go's rapid expansion into the UAE is backed by its industry-leading autonomous driving technology and proven real-world operational expertise. As a leading autonomous ride‑hailing service provider globally, Apollo Go has logged more than 240 million autonomous kilometers, of which over 140 million kilometers were completed in fully driverless mode. With a global footprint across 22 cities, Apollo Go's weekly ride count has recently surpassed 250,000, and the service has completed more than 17 million cumulative rides as of October 31, 2025. Looking ahead, Apollo Go and AutoGo will scale fully autonomous commercial ride-hailing services to reach more users and advance Abu Dhabi's smart city vision.
About Baidu
Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on the NASDAQ under "BIDU" and HKEX under "9888." One Baidu ADS represents eight Class A ordinary shares.
Media Contact
intlcomm@baidu.com
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Baidu's Apollo Go and K2's AutoGo Commence Fully Autonomous Ride-Hailing Service on Yas Island, Announce Phased Expansion Across Abu Dhabi
