Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

<ul>
<li>
Taiwan's first battery gigafactory at 10% utilization — built ahead of demand to win contracts. Breakeven requires 35-45%; management prioritizes capital-efficient, customer-backed expansion.</li>
<li>
Defense is the nearest catalyst — drone cells in qualification with 4-5 mass production discussions active. Meaningful military revenue from 2027, not 2026.</li>
<li>
Non-China supply chain positioning is the structural bet — 100% Taiwan manufacturing, multi-geography sourcing. Converting geopolitical tailwinds into contracts before cash runs thin is the key risk.</li>
</ul>



Taiwan's first battery gigafactory at 10% utilization — built ahead of demand to win contracts. Breakeven requires 35-45%; management prioritizes capital-efficient, customer-backed expansion.

Defense is the nearest catalyst — drone cells in qualification with 4-5 mass production discussions active. Meaningful military revenue from 2027, not 2026.

Non-China supply chain positioning is the structural bet — 100% Taiwan manufacturing, multi-geography sourcing. Converting geopolitical tailwinds into contracts before cash runs thin is the key risk.


TechChain Insights: Gus Technology - Management Q&A

<ul>
<li>Factory visit to GUS Technology reveals Taiwan's strategic position as a non-China battery supplier for defense and critical infrastructure applications.</li>
<li>Proprietary pouch cell technology with patents in Taiwan and Japan addresses weight-sensitive applications including drones, underwater vehicles, and data center UPS systems.</li>
<li>Dual product strategy (safety-focused Mettle Series and energy-dense Hyper Series) targets both commercial reliability and mission-critical performance markets.</li>
</ul>


Factory visit to GUS Technology reveals Taiwan's strategic position as a non-China battery supplier for defense and critical infrastructure applications.
Proprietary pouch cell technology with patents in Taiwan and Japan addresses weight-sensitive applications including drones, underwater vehicles, and data center UPS systems.
Dual product strategy (safety-focused Mettle Series and energy-dense Hyper Series) targets both commercial reliability and mission-critical performance markets.


TechChain Insights: Visit with Taiwan's Critical Battery Supplier

Taiwan

Gus Technology Co.,Ltd develops and manufactures battery products. The Company produces battery cells, battery modules, and other products. Gus Technology also operates energy storage system development and assembly application.

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GUS TECHNOLOGY (6940 TT)

TechChain Insights: Gus Technology - Management Q&A

Taiwan's first battery gigafactory built ahead of demand, focusing on defense contracts and non-China supply chain positioning for growth.

Vincent Fernando, CFA

TechChain Insights: Visit with Taiwan's Critical Battery Supplier

Taiwan's GUS Technology is emerging as a key supplier for defense and critical infrastructure, with innovative pouch cell technology for...

Vincent Fernando, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TechChain Insights: Gus Technology - Management Q&A

​Taiwan's first battery gigafactory built ahead of demand, focusing on defense contracts and non-China supply chain positioning for growth.

Vincent Fernando, CFA

TechChain Insights: Visit with Taiwan's Critical Battery Supplier

​Taiwan's GUS Technology is emerging as a key supplier for defense and critical infrastructure, with innovative pouch cell technology for...

Vincent Fernando, CFA

Taiwan's first battery gigafactory built ahead of demand, focusing on defense contracts and non-China supply chain positioning for growth.

Taiwan's GUS Technology is emerging as a key supplier for defense and critical infrastructure, with innovative pouch cell technology for...