Alset Moves to Acquire Clean-Tech Stakeholder

The strategic acquisition positions Alset to deepen its footprint in electric vehicle infrastructure and technology.

May 23, 2025

Alset Expands Sustainable Tech Portfolio with Major Stake Acquisition

Alset Inc. is making a direct move to deepen its position in clean energy. The company has signed an agreement to purchase New Energy Asia Pacific Inc. (NEAPI) for $83 million. The transaction—structured as a convertible promissory note —gives Alset ownership of NEAPI and, through it, a 41.5% stake in Hong Kong-based New Energy Asia Pacific Company Limited.

New Energy is focused on electric vehicle infrastructure. Its core business covers:

• All-electric specialty and transport vehicles


• Charging stations


• Batteries for EV applications

For Alset, this deal opens the door to a broader presence in EV technology and supports its strategy to align with sustainable transportation solutions.

The note carries a 1% annual interest rate and converts into Alset common stock at $3.00 per share. The seller, Alset’s Chairman and CEO Chan Heng Fai, can convert at any time with ten days’ notice—or automatically at maturity five years out. The deal remains subject to standard closing conditions, including approval from a majority of shareholders.

Governance and Structure

Alset’s Board has taken steps to ensure transparency. A fairness opinion confirmed that the transaction is financially sound for shareholders. The Board’s Audit Committee approved the deal, and both Chan Heng Fai and his son—Board member Chan Tung Moe—recused themselves from all votes and discussions.

The stock issued upon conversion will be exempt from registration under federal securities law, as the transaction qualifies as a private offering under Section 4(a)(2) of the Securities Act.

Strategic Impact

This acquisition fits neatly into Alset’s broader focus on sustainability. It strengthens the company’s position in EV infrastructure while extending its investment in technologies aligned with future mobility trends. With shareholder approval pending, Alset is preparing to integrate NEAPI and further develop its role in the clean-tech space.