Expects to secure approximately SGD $2.3 million in energy storage equipment sales to Pansik within the next two monthsExpands business growth channels through strategic partnerships and market diversificationLaunches a new cooperation model with rental service providers, driving growing interest and collaboration from regional distributors in Thailand and neighboring markets SINGAPORE, Oct. 27, 2025 (GLOBE NEWSWIRE) -- Rectitude Holdings Ltd. (Nasdaq: RECT; the “Company” or “Rectitude”), a Singapore-based ...

Core Insights - Rectitude Holdings Ltd. has made significant progress with its All-in-One Intelligence Micro-Grid System (AIMS) since its introduction to the Southeast Asian market in November 2024, securing contracts and repeat orders across multiple countries [1][3] Company Developments - The company has generated approximately USD 1 million in revenue from its first batches of AIMS sales contracts in Thailand [4] - AIMS products have been delivered to customers in Singapore and Malaysia, expanding Rectitude's green energy offerings in Southeast Asia [4] - AIMS rental operations have commenced in Singapore, providing innovative battery energy storage systems to new customers [4] - Strategic partnerships have been established, including one with Nanjing Starship Intelligent Storage Technology Co. to support AIMS production and deployment [4] - A Memorandum of Understanding (MOU) has been signed with Agentis Intelligence Pte Ltd. to enhance sales of Rectitude's Super Sun Energy Storage System, leveraging Agentis's sales and distribution network [4] Industry Context - The green energy sector in Southeast Asia is experiencing rapid growth, driven by strong policy support, including the Singapore Green Plan 2030, which targets net-zero emissions by 2050 [2] - Energy demand in Southeast Asia is projected to grow by 41% by 2030, with renewable energy capacity expected to increase by 300-500% by 2035 [2] - The transition to cleaner energy solutions is creating a multi-billion-dollar opportunity for integrated energy storage and management solutions like AIMS [3]

Core Viewpoint - Rectitude Holdings Ltd. is initiating a Bitcoin treasury strategy through a Standby Equity Purchase Agreement (SEPA) to raise up to $32,625,000 for Bitcoin purchases and general corporate purposes [1][2][4] Group 1: SEPA Details - The SEPA allows the Company to issue ordinary shares at a 2.5% discount to the lowest daily volume-weighted average price over three consecutive trading days [2][3] - There are no mandatory minimum drawdowns or penalties for not utilizing the Commitment Amount under the SEPA [3] Group 2: Bitcoin Strategy - The Company plans to acquire and hold Bitcoin long-term using excess cash flows from operations, with no specific target for the amount of Bitcoin to hold [4][5] - The strategy includes the potential sale of Bitcoin for corporate purposes or tax planning, and the Company may consider hedging strategies in the future [5][6] Group 3: Management Perspective - The Chairman and CEO emphasized that holding Bitcoin is a strategic move to safeguard shareholder value and position the Company for a digital future [7] - The SEPA is viewed as a flexible and efficient source of capital to support the Bitcoin treasury strategy and strengthen the balance sheet [7] Group 4: Company Background - Rectitude Holdings Ltd. was founded in 1997 in Singapore and specializes in safety equipment, including personal protective clothing and industrial hardware tools [8][9] - The Company's products are marketed across Southeast Asia, including countries like Brunei, Cambodia, Malaysia, Indonesia, and Vietnam [9]

FORM 20-F Cover Page [Filing Information](index=1&type=section&id=Filing%20Information) Rectitude Holdings Ltd's FY2025 Annual Report on Form 20-F details its Nasdaq listing (RECT) and status as a non-accelerated filer, emerging growth, and shell company - Filing Type: **Annual Report on Form 20-F** for the fiscal year ended **March 31, 2025**[2](index=2&type=chunk) - Registrant: **Rectitude Holdings Ltd**, incorporated in the **Cayman Islands**[2](index=2&type=chunk) Title of each class | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | :------------------ | :---------------- | :---------------------------------------- | | Ordinary shares, par value $0.0001 | RECT | Nasdaq Capital Market | - Outstanding Shares: **14,500,000 Ordinary Shares** issued and outstanding as of **March 31, 2025**[6](index=6&type=chunk) Large accelerated filer | Large accelerated filer | ☐ | Non-accelerated filer | ☒ | | :-------------------- | :- | :-------------------- | :- | | Accelerated filer | ☐ | Emerging growth company | ☒ | - Shell Company Status: **Yes**[10](index=10&type=chunk) Table of Contents [Report Structure Overview](index=4&type=section&id=Report%20Structure%20Overview) This section outlines the annual report's structure, listing major parts and items with their starting page numbers for navigation INTRODUCTION [Company Overview and Definitions](index=5&type=section&id=Company%20Overview%20and%20Definitions) This section defines key terms and clarifies Rectitude Holdings Ltd's corporate structure and reporting currency - **Rectitude Holdings Ltd** is a **Cayman Islands holding company**, conducting all operations through **wholly-owned subsidiaries in Singapore**[38](index=38&type=chunk) - The reporting currency is the **U.S. Dollar**[38](index=38&type=chunk) - The exchange rate used for Singapore dollars to **U.S. dollars** for the financial year ended **March 31, 2025**, was **S$1.3445 to US$1.00**[38](index=38&type=chunk) DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS [Forward-Looking Statements Disclaimer](index=7&type=section&id=Forward-Looking%20Statements%20Disclaimer) This section advises that the annual report contains forward-looking statements subject to risks and uncertainties, with no obligation to update - The annual report contains **forward-looking statements** that are **subject to risks and uncertainties**, and **actual future results may vary materially**[41](index=41&type=chunk) - Factors that could cause actual results to differ include goals, strategies, financial condition, new product offerings, market demand, competition, government policies, and other risk factors discussed in Item **3.D**[43](index=43&type=chunk) - The company does not intend or have an **obligation to publicly update** any **forward-looking statements** after the distribution of this annual report[42](index=42&type=chunk) PART I [Item 1. Identity of Directors, Senior Management and Advisers](index=8&type=section&id=Item%201.%20Identity%20of%20Directors%2C%20Senior%20Management%20and%20Advisers) This item is **not applicable** for annual reports on Form **20-F** [Item 2. Offer Statistics and Expected Timetable](index=8&type=section&id=Item%202.%20Offer%20Statistics%20and%20Expected%20Timetable) This item is **not applicable** for annual reports on Form **20-F** [Item 3. Key Information](index=8&type=section&id=Item%203.%20Key%20Information) This section provides crucial company information, including reserved sections, capitalization, and a comprehensive overview of risk factors [3.A. Reserved](index=8&type=section&id=3.A.%20Reserved) This section is **reserved** and contains no information [3.B. Capitalization and Indebtedness](index=8&type=section&id=3.B.%20Capitalization%20and%20Indebtedness) This item is **not applicable** for annual reports on Form **20-F** [3.C. Reasons for the Offer and Use of Proceeds](index=8&type=section&id=3.C.%20Reasons%20for%20the%20Offer%20and%20Use%20of%20Proceeds) This item is **not applicable** for annual reports on Form **20-F** [3.D. Risk Factors](index=8&type=section&id=3.D.%20Risk%20Factors) This section outlines the **principal risks and uncertainties** that could **adversely affect** the company's business, financial condition, results of operations, cash flows, and prospects, categorized by business and securities [Risks related to Our Business and Industry](index=8&type=section&id=Risks%20related%20to%20Our%20Business%20and%20Industry) This subsection details operational and external risks, including economic conditions, personnel, competition, supply chain, and regulatory challenges - The company's business is **affected by regional and worldwide political, regulatory, social, and economic conditions** in the jurisdictions where it and its customers/suppliers operate[50](index=50&type=chunk)[53](index=53&type=chunk) - Continued success is **dependent on key management personnel**, particularly **Mr. Zhang Jian**, and experienced/skilled personnel; loss of whom could severely disrupt the business[50](index=50&type=chunk)[59](index=59&type=chunk) - The company is **exposed to disputes and claims arising from site accidents** due to the usage of its safety equipment, which could adversely affect reputation and profitability[51](index=51&type=chunk)[65](index=65&type=chunk) - **Increased competition** in the safety equipment sales and rental business in Singapore and the region may affect market share and growth[51](index=51&type=chunk)[68](index=68&type=chunk) - The business is **susceptible to fluctuations in the prices and quantity of available safety equipment** and industrial grade hardware[50](index=50&type=chunk)[58](index=58&type=chunk) - **Supply chain interruptions have not materially impacted financial results** for **FY2023-2025**, but increased costs or disruptions could affect revenue and profitability. The company plans to **diversify supply chains** by sourcing more products from outside the PRC to mitigate UFLPA risks[72](index=72&type=chunk)[73](index=73&type=chunk) - Cybersecurity risk is perceived as **lower due to emphasis on physical retail and minimal e-commerce sales**, but plans include **rigorous supplier cybersecurity assessments, contractual clauses, and employee training**[74](index=74&type=chunk) [Risks related to our Securities](index=10&type=section&id=Risks%20related%20to%20our%20Securities) This subsection addresses risks specific to the company's Ordinary Shares, including market volatility, delisting, lack of dividends, and controlling shareholder influence - An **active trading market for Ordinary Shares may not continue**, and the trading price may **fluctuate significantly**, potentially resulting in substantial losses for investors[90](index=90&type=chunk)[93](index=93&type=chunk) - The company may **not maintain its listing on Nasdaq**, which could limit investors' ability to make transactions and subject the company to additional trading restrictions[91](index=91&type=chunk) - The company does **not expect to pay dividends in the foreseeable future**, requiring investors to **rely solely on price appreciation** for a return on investment[101](index=101&type=chunk) - **Controlling Shareholders** (**Mr. Zhang** and **Ms. Xu Yukai**) collectively own **72.7%** of outstanding Ordinary Shares, giving them **substantial influence** over corporate transactions and potentially **misaligning their interests** with other shareholders[107](index=107&type=chunk)[108](index=108&type=chunk) - As a '**controlled company**' and '**foreign private issuer**,' the company may choose to **exempt itself from certain Nasdaq corporate governance requirements**, which could provide **less protection to public shareholders**[109](index=109&type=chunk)[110](index=110&type=chunk)[120](index=120&type=chunk) - Shareholders may face **difficulties protecting their interests and enforcing rights through U.S. courts** due to the company's incorporation under **Cayman Islands** law and the location of assets, directors, and officers outside the **U.S.**[113](index=113&type=chunk)[117](index=117&type=chunk) - The company is an '**emerging growth company**' and '**foreign private issuer**,' allowing it to take advantage of certain **reduced reporting requirements and exemptions** from provisions applicable to **U.S. domestic public companies**[118](index=118&type=chunk)[120](index=120&type=chunk) [Item 4. Information on the Company](index=24&type=section&id=Item%204.%20Information%20on%20the%20Company) This section provides detailed information on the company's history, corporate structure, business operations, and strategic direction [4.A. History and Development of the Company](index=24&type=section&id=4.A.%20History%20and%20Development%20of%20the%20Company) Rectitude Holdings Ltd, incorporated in Cayman Islands in June **2023**, completed a reorganization in January **2024** and expanded product offerings in March **2025** - **Rectitude Holdings Ltd was incorporated in the Cayman Islands** on **June 1, 2023**[127](index=127&type=chunk) - A **reorganization was completed** on **January 3, 2024**, resulting in RPL, PTH, and ALS becoming **wholly-owned subsidiaries**[132](index=132&type=chunk)[134](index=134&type=chunk)[135](index=135&type=chunk) - The company **successfully delivered its first batch of All-in-One Intelligence Micro-grid System (AIMS)** in **February 2025**, generating **S$450,000** in revenue[136](index=136&type=chunk) - **Strategic partnerships with Bosch Limited and AkzoNobel NV were announced in March 2025**, **expanding product offerings** to include power tools and Dulux paints[137](index=137&type=chunk) [4.B. Business Overview](index=25&type=section&id=4.B.%20Business%20Overview) The company's core business is safety equipment and industrial hardware in Singapore and Southeast Asia, with FY2025 revenue growth of **5.9%** and net profit decrease of **33.3%** - The **primary business involves the provision of safety equipment** (personal protective clothing, firefighting equipment, traffic products) and **auxiliary industrial hardware tools**[139](index=139&type=chunk)[238](index=238&type=chunk) - Safety equipment contributed **70.0%** of revenue in **FY2025**, up from **68.9%** in **FY2024** and **65.0%** in **FY2023**[139](index=139&type=chunk)[238](index=238&type=chunk) - The bulk of customers are in infrastructure development, building construction, marine, oil and gas industries, and general industrial markets in **Singapore** (**95%** of **FY2025** revenue) and **Southeast Asia**[140](index=140&type=chunk)[141](index=141&type=chunk)[240](index=240&type=chunk) Revenue and Net Profit (S$) | Metric | FY2023 | FY2024 | FY2025 | | :--------- | :--------- | :--------- | | Revenue | 37,643,696 | 41,353,555 | 43,796,144 | | Net Profit | 3,926,821 | 3,355,409 | 2,237,865 | - **Revenue grew by 5.9%** in **FY2025**, while **net profit decreased by 33.3%**[143](index=143&type=chunk)[243](index=243&type=chunk) - **Top 3 product categories** in **FY2025** were **personal protective clothing/fall arrest systems** (**S$23.6 million**), **portable fire extinguishers** (**S$4 million**), and **traffic products** (**S$3 million**)[154](index=154&type=chunk) - **Quality control involves a two-step process with independent product testing organizations** (e.g., Singapore Test Lab, Bureau Veritas Australia) for certification and regular surveillance checks[166](index=166&type=chunk)[167](index=167&type=chunk) - **Competitive strengths include strong and stable relationships with suppliers and customers, an experienced management team, strategically located branches across Singapore, and a comprehensive range of safety products** and industrial-grade hardware tools[173](index=173&type=chunk)[174](index=174&type=chunk)[176](index=176&type=chunk)[177](index=177&type=chunk)[178](index=178&type=chunk) - **Business strategies include expanding through acquisitions, joint ventures, and strategic alliances; strengthening local presence** by expanding the branch network; and widening the product range within established brands[179](index=179&type=chunk)[180](index=180&type=chunk)[181](index=181&type=chunk)[182](index=182&type=chunk) [4.C. Organizational structure](index=42&type=section&id=4.C.%20Organizational%20structure) The company's organizational structure consists of Rectitude Holdings Ltd as the parent, with three wholly-owned Singaporean subsidiaries engaged in safety product supply Subsidiaries of Rectitude Holdings Ltd | Subsidiaries | Date of Incorporation | Jurisdiction of Formation | Percentage of direct/indirect Economic Ownership | Principal Activities | | :-------------------------- | :-------------------- | :------------------------ | :--------------------------------------------- | :-------------------------- | | Alturan Supplies Pte. Ltd ("ALS") | September 15, 2009 | Singapore | 100% | Supply of safety products | | P.T.H Pte. Ltd. ("PTH") | November 3, 2008 | Singapore | 100% | Supply of safety products | | Rectitude Pte Ltd ("RPL") | December 26, 1997 | Singapore | 100% | Wholesale of safety products | [4.D. Property, Plant and Equipment](index=43&type=section&id=4.D.%20Property%2C%20Plant%20and%20Equipment) This section details the company's leased and owned properties in Singapore, used for operations, and lists its registered trademarks across multiple jurisdictions - The company operates **multiple leased properties in Singapore** for storage, warehouse, factory, office, and repair workshop purposes, with varying lease periods and monthly rents[217](index=217&type=chunk) - The company **owns properties** at **35 Tampines Industrial Avenue 5**, **18 Kaki Bukit Road 3**, **71 Woodlands Industrial Park E9**, **9 Tuas South Avenue 10**, and **2 Tampines North Drive 4**[217](index=217&type=chunk) - The Group has **registered trademarks**, primarily under RPL, in **Singapore**, **Brunei**, **Thailand**, **Cambodia**, **Vietnam**, **Malaysia**, **Australia**, and **PRC**, covering various classes including safety footwear, hand tools, life-saving apparatus, and clothing[218](index=218&type=chunk)[219](index=219&type=chunk)[220](index=220&type=chunk)[226](index=226&type=chunk) [Item 4A. Unresolved Staff Comments](index=50&type=section&id=Item%204A.%20Unresolved%20Staff%20Comments) This section states that there are **no unresolved staff comments** [Item 5. Operating and Financial Review and Prospects](index=50&type=section&id=Item%205.%20Operating%20and%20Financial%20Review%20and%20Prospects) This section provides a **comprehensive discussion and analysis** of the company's **financial condition and results of operations**, covering operating results, liquidity, R&D, industry trends, and critical accounting estimates for **FY2023-2025** [5.A. Operating Results](index=50&type=section&id=5.A.%20Operating%20Results) This subsection analyzes the company's financial performance for FY2023-FY2025, covering revenue, costs, and net income, and key influencing factors - The company's **core business is the provision of safety equipment** (**70.0%** of **FY2025** revenue) and **auxiliary products**, primarily in **Singapore** and **Southeast Asia**[238](index=238&type=chunk) - For **FY2025**, **revenue increased by 5.9%** to **S$43.8 million**, while **net profit decreased by 33.3%** to **S$2.2 million**[242](index=242&type=chunk)[243](index=243&type=chunk) - Key factors affecting financial results include **intense competition, dependence on stable product supply, exposure to product liability claims**, and the ability to successfully implement business strategies[244](index=244&type=chunk)[245](index=245&type=chunk)[24

Core Insights - Rectitude Holdings Ltd reported financial results for the fiscal year ending March 31, 2025, highlighting a challenging earnings environment but a commitment to long-term growth through new product launches and expanded distribution [3][4]. Financial Performance - Total revenues for the fiscal year were $32.57 million, an increase from $41.35 million in the previous year, driven by higher customer demand for safety equipment due to increased construction activity [4][9]. - Cost of revenues rose to $21.61 million, influenced by the revenue increase and a shift towards higher-cost products, including the launch of the AIMS system [5][9]. - Gross profit was $10.96 million, representing a gross profit margin of 33.65%, down from 35.57% the previous year, attributed to a less favorable product mix and increased freight costs [6][9]. - Selling and marketing expenses increased to $3.57 million, primarily due to costs associated with expanding retail branches [7][9]. - Research and development expenses rose to approximately $117,000, reflecting investments in the AIMS system and virtual reality technology for safety training [10][9]. - General and administrative expenses increased to $5.61 million, driven by higher provisions for expected credit losses and other administrative costs [11][9]. - Net income for the fiscal year was $1.66 million, or $0.12 per diluted share, a decrease from $3.36 million the previous year [12][13][9]. - EBITDA decreased to $3.39 million, down from $5.88 million in the prior year, primarily due to lower net income and increased expenses [14][9]. Strategic Outlook - The company anticipates strong growth and operational performance for Fiscal Year 2026, focusing on expanding its core business and capturing value across the safety equipment supply chain [15][3]. - The successful launch of the AIMS system is expected to support customers' power needs in remote construction sites, promoting low-carbon and sustainable methods [15][3]. - The company aims to leverage its financial strength to assist traditional business owners in transitioning and expanding their operations within Southeast Asian markets [15][3]. Company Overview - Founded in 1997, Rectitude Holdings Ltd specializes in safety equipment and industrial hardware, serving a diverse range of markets in Singapore and Southeast Asia [17].

SINGAPORE, April 15, 2025 (GLOBE NEWSWIRE) -- Rectitude Holdings Ltd. (Nasdaq: RECT; the “Company” or “Rectitude”), a Singapore-based provider of safety equipment and related industrial products, announces the award of its first sub-contract from China Construction (South Pacific) Development Co. Pte. Ltd. (“CCDC”) for the rental of its cutting-edge battery energy storage system for several projects being undertaken in Singapore. Under the rental agreement, Rectitude will supply clean power to tower cranes, ...

Core Viewpoint - Rectitude Holdings Ltd reported a revenue increase driven by strong customer demand for safety equipment, despite a decline in auxiliary product revenues, indicating a positive market response to the company's innovation efforts [3][4][7]. Financial Performance - Total revenues for the first half of fiscal 2025 were $17.2 million, an increase of 7.89% from $20.5 million in the prior year [4][7]. - Gross profit for the same period was $6.0 million, with a gross profit margin of 34.74%, down from 36.96% in the previous year [6][7]. - Net income decreased to $0.9 million, or $0.06 per diluted share, compared to $2.1 million, or $0.17 per diluted share, in the prior year [12][13]. Cost Structure - Cost of revenues increased to $11.2 million, reflecting higher procurement costs associated with customizable products and new auxiliary products [5][7]. - Selling and marketing expenses rose to $2.5 million, attributed to the opening of new branches and associated operating costs [9][7]. - General and administrative expenses increased to $3.8 million, driven by costs related to the company's initial public offering and ongoing public company expenses [11][7]. Operational Insights - The company emphasized continued investment in product development to meet evolving customer needs and expand market presence in Southeast Asia [3][15]. - Research and development expenses were $0.04 million, reflecting ongoing investment in new products [10][7]. Outlook - The company anticipates stronger growth in the second half of fiscal 2025, particularly in Energy and Power Storage Products, aiming to enhance workplace safety and expand revenue [15][16].

Core Insights - Rectitude Holdings Ltd. has successfully delivered its first batch of All-in-One Intelligence Micro-grid System (AIMS) to customers in Singapore, marking a significant milestone in the company's commitment to green energy solutions in Southeast Asia [1][3][4] Group 1: Product Launch and Revenue - The initial sale included two AIMS AST 05 systems and twelve 6800/2350B mobile power stations, generating S$450,000 in revenue [2] - The AIMS AST 05 systems were integrated into the local electrical grid and have been operating efficiently, indicating successful implementation [2] Group 2: Market Expansion and Strategy - This sale follows Rectitude's launch of new energy solutions in Thailand in December 2024, allowing the company to enter the multi-billion-dollar green energy market in Southeast Asia [3] - The successful launch of AIMS in Singapore is seen as a foundational step for continued growth across the region's sustainable energy sector [4] Group 3: Company Background - Founded in 1997 in Singapore, Rectitude is involved in providing safety equipment and related industrial products, including personal protective clothing and portable fire extinguishers [5] - The company markets its products to a wide array of distributor networks and end markets throughout Southeast Asia, including countries like Brunei, Cambodia, Malaysia, Indonesia, and Vietnam [5]

Core Insights - Rectitude Holdings Ltd. has secured its first sales contracts for the All-in-One Intelligence Micro-grid System (AIMS), expected to generate approximately USD 1 million in revenue [1][2] - The company is expanding into Thailand and aims to grow its presence across Southeast Asia, targeting the multi-billion-dollar new energy solutions market [1][6] Company Strategy - The company is actively entering the green energy market with its all-in-one energy storage solution, focusing on industries such as construction, mining, and rural electrification [2] - The initial sale of AIMS highlights the company's capability to deliver high-value, adaptable energy storage solutions while driving revenue growth and increasing profit margins [2] Product Overview - AIMS is designed to provide scalable, flexible, and integrated energy storage and management solutions tailored to diverse industries [7] - The product emphasizes innovation and sustainability, reinforcing Rectitude's position as a leading provider of safety equipment and energy solutions in Southeast Asia [7] Market Position - Rectitude has established a strategic supply relationship with Nanjing Starship Intelligent Storage Technology Co. to enhance its offerings in Southeast Asia [6] - The company markets a wide array of safety equipment and industrial products, including personal protective clothing, safety footwear, and portable fire extinguishers, across various Southeast Asian countries [8]

Core Insights - Rectitude Holdings Ltd. has entered into a memorandum of understanding with Nanjing Starship Intelligent Storage Technology Co. to provide its All-in-one Intelligence Micro-grid System, a next-generation energy storage solution aimed at transforming industrial power management [1][3] Company Overview - Founded in 1997 in Singapore, Rectitude specializes in safety equipment, including personal protective clothing, gloves, safety footwear, personal fall arrest systems, portable fire extinguishers, and traffic products [4] - The company also offers auxiliary products such as industrial hardware tools and electrical hardware for construction sites, with a growing market presence in Southeast Asia [4] Product Details - The AIMS is designed to manage power from multiple sources, including renewable energy and diesel generators, for both on-grid and off-grid applications [2] - Key features include intelligent energy management, dual charging circuits, and remote monitoring, which optimize energy use [2] - Benefits of the AIMS include zero-emission operation when integrated with renewable sources, significant cost savings through reduced fuel consumption, scalability for various energy needs, and reliable performance [2] Strategic Goals - The partnership with Nanjing Starship is seen as a milestone in Rectitude's long-term strategic goals to provide innovative solutions that enhance workplace safety [3] - The micro-grid system is expected to transform energy management by offering scalable, flexible, and efficient power solutions, contributing to potential revenue growth and an expanded product range [3] - As industries aim to reduce carbon footprints and energy costs, Rectitude is positioned to lead the transition to electric equipment powered by renewable energy [3]