KUCHING, Feb 7: Sarawakian company Evolving Brilliance Technologies Sdn Bhd (EB Tech) has signed a tripartite agreement with Thailand’s MSQ Engineering and Solutions Pvt Ltd and Prince of Songkla University (PSU) to develop the country’s carbon credit market.
The momentous signing ceremony took place at the PSU, Hat Yai, Thailand on Feb 2, in conjunction with the Southern Innovation and Technology Expo 2024 (SITE 2024).
In a press release today, EB Tech which possesses capabilities in Vision AI systems and developing Carbon Credit management systems, explained that the joint venture marks the commencement of a three-year working relationship (2024-2026) with a focus on the Carbon Credit Management and Trading Project in Thailand.
“The project will leverage EB Tech’s expertise to streamline the process of carbon credit verification, trading and management.
“Thailand, with its ambitious goal of achieving carbon neutrality by 2050, has implemented several policies and initiatives to promote greenhouse gas (GHG) emission reduction projects, generating tradable carbon credits. However, challenges remain in effectively managing and monetising these credits.
“This joint venture aims to address these challenges by combining EB Tech’s expertise in carbon credit management with MSQ’s extensive experience in the Thai engineering and construction sectors,” the company wrote.
In addition, the joint venture will also foster knowledge exchange and research advancements through the partnership with PSU.
Meanwhile, EB Tech chief executive officer Moses Lenjau expressed his excitement to partner up with MSQ and PSU on the groundbreaking project.
“This collaboration leverages our combined strengths to unlock the full potential of carbon credit management in Thailand, contributing to the country’s climate action goals and creating significant opportunities for Sarawak’s green economy,” he said.
EB Tech has also recently won grants from both Sarawak Digital Economy Corporation (SDEC) as well as Shell Livewire which was co-funded and organised with Tabung Ekonomi Gagasan Anak Sarawak (TEGAS), and also received investment and funding from Nexea ventures as well as Malaysian Business Angel Network (MBAN) Sarawak Chapter. — DayakDaily
