Fintech PR
Cambridge Scientists Secure $5M from Leading Global Venture Capital Funds and Corporations to Transform Scope 3 Decarbonization
Regeneration.VC leads Neutreeno’s Seed round alongside Remarkable Ventures Climate Fund (RVC), Closed Loop Partners, Prequel Ventures, Scania Invest and Beacon Venture Capital.
CAMBRIDGE, England, Oct. 2, 2024 Neutreeno, a pioneering deep tech startup spinning out of the University of Cambridge has secured a $5 million Seed round with support from a global syndicate of mission-aligned investors.
On average, companies have over 90% of emissions in their value chain (Scope 3) and 93% will fail to achieve their net zero goals unless they double the pace of emissions reduction by 2030. This is challenging due to a lack of primary value chain data, the inability to influence suppliers and the high cost of decarbonization.
Neutreeno’s proprietary process networks, based on mass and energy flow research, significantly minimise the primary data burden on suppliers and allows enterprises to map product lines faster and with greater precision than existing tools. Their easy-to-use and affordable digital system automatically pinpoints solutions that reduce emissions and costs across 1,000s of suppliers. Neutreeno’s customers span Asia, Europe, and North America, including S&P 500 and FTSE 250 companies across multiple industries, and a wide range of SMEs.
Fredrik Nilzén, Head of Sustainability at Scania Group, one of the world’s largest commercial vehicle manufacturers, emphasized, “Neutreeno offers a unique and innovative solution that is crucial for tackling sustainability challenges with improved efficiency and cost-effectiveness at scale. Scania Invest’s support emphasizes the strategic importance of advancing Neutreeno’s pioneering technology in the sustainability landscape.“
Dr Spencer Brennan, Neutreeno’s founder, assembled a team of scientists who over two decades pioneered concepts of circularity and resource efficiency in complex supply chains, informing international climate policy. Spencer remarked, “we take a completely novel, robust engineering approach to challenge the Scope 3 status quo.” Professor Jonathan Cullen, Head of Climate Science at Neutreeno and Lead Author for the IPCC AR6 Industry Chapter, stated, “Neutreeno breaks away from the noisy landscape of tedious, form-filling accounting-based carbon software.”
Neutreeno delivered groundbreaking results for a multi-billion-dollar enterprise customer, identifying a 35% emissions reduction potential across Scope 1–3 for one of its suppliers and automatically pinpointing actions leading to new product designs, procurement changes, and substantial emissions reductions — all in just four weeks.
Enthused by the company’s mission to democratize emissions reductions for millions of businesses, Michael Smith, General Partner of Regeneration, commented, “Neutreeno has the first technical system able to move beyond Scope 3 reporting to systematically decarbonize industry, unlocking the US$130 trillion of capital waiting to fund the low-carbon transition.”
With its innovative approach and strong industry backing, Neutreeno is poised to make a significant impact on global decarbonization efforts, helping companies achieve their climate goals faster than ever before.
About Neutreeno
Utilizing proprietary process networks and engineering models, Neutreeno identifies and eliminates emissions at source. Neutreeno partners with leading businesses wanting to move beyond carbon accounting and take decisive action to decarbonize Scope 3 emissions. Learn more here.
Photo – https://mma.prnewswire.com/media/2521643/Neutreeno_Announcement_Sep_2024.jpg
View original content:https://www.prnewswire.co.uk/news-releases/cambridge-scientists-secure-5m-from-leading-global-venture-capital-funds-and-corporations-to-transform-scope-3-decarbonization-302265578.html
Fintech PR
Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.
On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”
Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.
His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.
As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.
Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
Photo – https://mma.prnewswire.com/media/2566076/Wahed_MENA_Khalid_Al_Jassim.jpg
View original content:https://www.prnewswire.co.uk/news-releases/wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region-302314779.html
DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.
Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.
Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.
Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”
About Wahed
Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.
For more information, visit: www.wahed.com
About Qatar Development Bank
Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.
For more information, visit: https://www.qdb.qa/
Photo – https://mma.prnewswire.com/media/2566075/Qatar_Development_Bank_Announcement.jpg
View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html
DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.
In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.
Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.
AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.
Photo – https://mma.prnewswire.com/media/2557788/image.jpg
Photo – https://mma.prnewswire.com/media/2565550/Image2.jpg
Logo – https://mma.prnewswire.com/media/2449955/5026987/AIMA_Technology_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/chinas-aima-brand-electric-motorbike-is-now-in-bangladesh-302314773.html
-
Fintech4 days agoFintech Pulse: Industry Updates, Innovations, and Strategic Moves
-
Fintech3 days agoFintech Pulse: Daily Industry Brief – A Dive into Today’s Emerging Trends and Innovations
-
Fintech PR4 days agoROLLER Releases 2025 Attractions Industry Benchmark Report, Unveiling Key Trends and Revenue Strategies
-
Fintech PR4 days agoTAILG Represents the Industry at COP29, Advancing South-South Cooperation with Low-Carbon Solutions
-
Fintech6 days agoFintech Pulse: Navigating Expansion, Innovation, and Sustainability
-
Fintech5 days agoFintech Pulse: Milestones, Partnerships, and Transformations in Fintech
-
Fintech PR2 days agoAlkira Ranked 25th Fastest-Growing Company in North America and 6th in the Bay Area on the 2024 Deloitte Technology Fast 500™
-
Fintech PR4 days agoThe CfC St. Moritz Announces New Speakers from BlackRock, Binance, Bpifrance, Temasek, PayPal, and More for Upcoming 2025 Conference