THAILAND: A joint-venture agreement between three companies is being hailed as the start of a three-year focus on a carbon credit management and trading project in Thailand.
It was signed between Evolving Brilliance Technologies Sdn Bhd (EB Tech) and MSQ Engineering and Solutions (Thailand) Pvt Ltd, along with their Malaysian counterpart MSQ Engineering and Solutions Sdn Bhd.
“Both EB Tech and MSQ Engineering and Solutions are set to combine their technological expertise and regional insights to drive innovations in the burgeoning carbon credit market.
“The project aims to align with Thailand’s commitment to sustainable development and reducing carbon emissions,” EB Tech said in a press release.
It added that the joint venture will emphasise its potential to contribute significantly to Thailand’s environmental goals.
“This partnership between EB Tech and MSQ Engineering and Solutions is a commendable step towards harnessing technology for sustainable development.
“We believe this collaboration will not only advance carbon credit management practices but also foster knowledge exchange and research advancements through the partnership with Prince of Songkla University,” it added.
EB Tech stated the collaboration leverages its 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.
“EB Tech’s capabilities in Vision AI systems and developing carbon credit management systems have positioned the company as a leader in the field. With a proven track record of implementing cutting-edge solutions, EB Tech is well-prepared to contribute to the success of the joint venture.
“The collaboration aims not only to bolster EB Tech’s presence in Thailand but also to create a positive impact on the local business landscape in Malaysia, with a particular focus on Sarawak.
“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,” it said.
It said the project will leverage its expertise to streamline the process of carbon credit verification, trading, and management.
“This will not only contribute to the sustainable development goals of both Thailand and Malaysia but also open new avenues for economic growth and employment opportunities in Sarawak.
“Thailand, with its ambitious goal of achieving carbon neutrality by 2050, presents a significant opportunity for carbon credit management and trading,” it added.
