Malaysia’s EPC Blockchain Wins $250k Grant from National Commercial Tech Platform

Asia Blockchain Review
June 10, 2019

KUALA LUMPUR, MALAYSIA, 1 JUNE 2019EPC Blockchain Sdn. Bhd., a Malaysian company committed to mitigating global climate change through the ProximaX-powered Blockchain Energy Savings Consortium (BESC), has been granted RM1,032,045 (US$250,000) funding by PlaTCOM Ventures Sdn. Bhd. to further its project.

Founded by experienced energy experts, BESC utilizes the ProximaX Sirius platform as a ledger to document and record data on energy generation, usage, and reduction. The platform can also be used to keep track of, notarize, and trade Certified Emission Reductions (CERs), AKA carbon credits, and Renewable Energy Certificates (RECs). BESC also actively attracts global investors, promoting crowdfunding opportunities for energy efficiency and renewable energy projects.

After PlaTCOM Ventures had run an in-depth series of eligibility assessments, EPC Blockchain has been successfully admitted into High Impact Programme 2 (HIP2) – Technology Commercialisation Platform (TCP) under the SME Masterplan 2012-2020. The program, designed by SME Corporation Malaysia (SME Corp) and Agensi Inovasi Malaysia (AIM) for SMEs, is to help small businesses seamlessly move their innovations along the complex stages of the commercialization process.

ProximaX CEO Lon Wong said in a statement, “Firstly, we would like to congratulate EPC Blockchain for securing the grant from PlaTCOM Ventures. It is without a doubt an accomplishment that deserves recognition and global attention because it is supported by not just one technology accelerator investor in PlaTCOM Ventures but also from 1337 Ventures under the Khazanah NEO (Nasional Entrepreneurship Outreach) program and the Cyberview Living Lab Accelerator program.”

“We are equally happy about ProximaX Sirius having an important role to play in BESC’s blockchain-powered climate mitigation project. This is another demonstration of the vast utility of the Sirius platform and its application in yet another industry with a focus on carbon credit and energy management,” Lon continued.

Through its patent-pending platform at BESC where it is also building a Platform as a Service (PaaS), a one-stop platform for energy monetization EPC Blockchain will play a critical role for the growing number of corporate companies heeding sustainable corporate business practices from environmental, social, and governance (ESG) initiatives. To this end, BESC shall grow to be the ideal platform for companies seeking to level off their carbon footprint by purchasing carbon credits, monetizing carbon credits from their carbon emission savings, helping project owners to raise funds from investors, and implementing energy projects all supported by the all-encompassing ProximaX Sirius.

“Our confidence in BESC is credited to the reliability and robust scalability of the ProximaX Sirius platform and this has enabled us to venture out boldly,” said EPC Blockchain Chief Technology Officer Tan Lim Soon Fu. “We are now in the midst of piloting several projects,

including an energy efficient building, solar Photovoltaics (PV) at carpark rooftop as a source for renewable energy, and solar-powered charging stations for electric vehicles.”

As a climate mitigation platform of choice, BESC will also retain information captured by an intelligent energy management system related to electrical equipments’ CO2 emission avoidance in industries, buildings, and homes. Data from here will be used as analytics for future climate mitigation purposes, while serving as useful data points to monetize carbon credits in the BESC marketplace.

As a homegrown player, EPC Blockchain will do its best to support Malaysia’s pledge to reduce 32 million tonnes of carbon emissions by 2020 and a 45% reduction in greenhouse gas emission intensity of GDP by 2030, in accordance with the Paris Agreement ratified by the country in 2015.

In a World Bank video, Malaysia’s Minister of Energy, Science, Technology, Environment, and Climate Change, YB Yeo Bee Yin, stated, “We have implementations, we have roadmaps but what we really need right now is to facilitate the financing to realize all this potential.”

It is hoped that the BESC Marketplace shall be the confluence of meeting points for project owners, corporations, service providers, and decentralized app developers.

The ProximaX Sirius platform supports a wide range of applications and solutions for many industries. To learn how this platform can benefit your business, please contact <[email protected]>.

About ProximaX

ProximaX is a next-generation Integrated and Distributed Ledger Technology (“IaDLT”)

infrastructure platform solution powered by blockchain technology. It extends beyond traditional blockchain protocols by integrating off-chain, peer-to-peer storage, streaming, and database service layers that are often found in traditional software-as-a-service (“SaaS”) centralized architectures. Together, the blockchain protocol and off-chain service layers form the ProximaX Sirius platform, the core development platform solution in the ProximaX ecosystem.

The ProximaX Sirius platform’s use cases include, but are not limited to, KYC processes, business continuity, video streaming, health, identity, IoT devices and robotics, big data applications, records and reporting systems, traceability, legal and notary services, land registry, trade finance, workforce collaboration, messaging, and supply chain management.

About EPC Blockchain

EPC Blockchain aims to empower the general public to invest in energy efficiency and renewable energy projects by building a transparent, trustworthy and decentralized platform for tracking every facility’s energy generation/savings, easing funding energy efficiency projects with a revolutionary crowdfunding model, and establishing a transparent, credible and auditable CO2 token monetization and trading platform. Blockchain Energy Savings Consortium (BESC) is the blockchain platform to fulfill that ambition.

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

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