Ezion Holdings Ltd. through its subsidiary Teras Investments Pte. Ltd, entered into a joint venture (JV) agreement with Alliance Offshore Group Ltd, TSC Group Holdings Limited (TSC), a wholly-owned subsidiary, to co-operate in the ownership and operations of Liftboats. The JV company will be named as Renergy Offshore Pte Ltd. Under the agreement, TSC will provide necessary assistance to the Renergy to obtain the capital required for the acquisition of new Liftboats and working capital.

Ezion will assist the Renergy in the marketing and operations of the Liftboats. TSC will own 51% and Ezion will own 49% in the Renergy. The transaction will enable Ezion and TSC to strengthen their Liftboats operations.