Newera Energy To Invest Up To US$50M In Bamboo Capital Group to Pilot World’s First Projects

August 7, 2018

Vietnam renewable energy company, Bamboo Capital JSC (BCG) has signed a MOU with New Era Energy Ltd. (NERA) to pilot the world’s first blockchain-enabled carbon credit protocol. NERA will also invest up to US$ 50M to proceed BCG’s solar and wind projects in 2018 as part of its commitment to promote clean energy usage in Southeast Asia.

Blockchain-enabled Carbon Credits Certification Protocol

NERA is a Singapore startup revolutionizing carbon credits and climate change initiatives by blockchain certification platform with a focus on transparency, efficiency, and security to measure clean energy footprint.

NERA aims to bring Carbon Trading market to the masses. “Carbon trading market is valued at over US$ 50 Billion as of 2017, yet it remains inaccessible to the masses”said Mr. Leonard Ng, Co-founder of NERA. “Our goal is to raise awareness of climate change and accelerate the adoption of clean energy in Southeast Asia, and we believe with proper verification and certification of clean energy footprint, we can create a rewarding ecosystem to encourage individuals to go green,” he added.

MOU between NERA and BCG

BCG is an investment company in multiple sectors including Agriculture and Manufacture, Infrastructure and Real Estate, and Renewable Energy. BCG was also listed on Ho Chi Minh City Stock Exchange (HOSE) with a VND1,080 billion charter capital and hence ranked 277th amongst Vietnam’s top 500 companies (VNR500) in 2017. The company was currently collaborating with Hanwha Group and other reputable energy partners to develop over 2,000 MW of solar and wind projects.

 

This MOU is the first activity lined up in NERA’s pledge to invest up to US$50 million into renewable energy projects based on blockchain. “Innovation and environmental responsibility are at the heart of BCG. We are delighted to work with NERA in the effort of accelerating renewable energy amongst the masses all over the world,” said Mr. Nguyen Ho Nam, Chairman of BCG.

Related Article
Stablecoin: What you need to know
Stablecoins directly backed by fiat currencies or commodities are said to be centralized, whereas th...

May 25, 2019

South Korea Authorizes 9 Fintech Startups, Companies for Sandbox
South Korea has approved 9 fintech firms for its regulatory sandbox, as the country moves to take th...

May 25, 2019

Singapore’s Regulator Considers Licenses for Digital-Only Bank
The Monetary Authority of Singapore is reportedly considering digital-only licenses for online banks...

May 25, 2019

Blockchain-powered Ride-sharing Service Launches in Cambodia
With stiff competition among ride-hailing apps in Southeast Asia, a Singaporean ride-sharing app has...

May 24, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us