GEM (SHE:002340) signed a memorandum of understanding with Universitas Nahdlatul Ulama Yogyakarta of Indonesia or UNU Yogyakarta to foster collaboration in science and technology between the two countries, according to a Shenzhen Stock Exchange disclosure on Thursday.

Under the MOU, the battery manufacturer will provide scholarships of up to $300,000 per year to students who will continue their studies at the Indonesian university or who will study in China.

Both parties will develop joint academic programs, with UNU Yogyakarta recommending eligible students to study in China.

GEM will be providing education to the university's Metallurgical College, the disclosure said.