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BII and FMO back BECIS with joint US$50 million financing facility supporting commercial and industrial renewables sector in South-East Asia
- The joint financing facility will support the energy-as-a-service provider to grow its rooftop solar portfolio in South and South-East Asia to nearly 350 MW by 2025, which will help avoid 319,000 tonnes of CO2 emissions per year.
- Supported by local government policies, the nascent Commercial and Industrial solar sector is offering cleaner and lower-cost electricity to customers to displace consumption of on-grid power.
SINGAPORE, April 15, 2024 /PRNewswire/ — British International Investment (BII), the UK’s development finance institution and impact investor, and FMO, the Dutch entrepreneurial development bank, today announced a joint loan commitment of US$50 million to BECIS, a leading energy-as-a-service (EaaS) provider in South-East Asia.
BECIS offers a wide array of services, such as rooftop solar, bio energy and energy efficiency solutions, tailored to meet the diverse needs of businesses and communities across Asia. With a strong commitment to sustainability, BECIS leverages advanced technologies and strategic partnerships to optimise energy consumption, drive the adoption of renewable energy sources, enhance operational efficiency, build resilient energy infrastructure, and promote energy literacy within communities.
The joint financing facility will be used to fuel BECIS’ expansion and back their groundbreaking energy solutions across Vietnam, the Philippines, Indonesia, Thailand, Malaysia and India. This is in response to the growing demand for clean and affordable energy within these economies.
As BECIS brings its portfolio to 346MW by 2025, it aims to avoid 319,000 tonnes of CO2 emissions per year by offering cleaner and lower-cost electricity to its customers to displace on-grid power.
The loan commitment from BII and FMO underscores their confidence in BECIS’ vision and capabilities to revolutionise the energy sector across the region. This partnership goes beyond just finances; it is a symbol of their united mission to propel sustainable development and cultivate innovation across South-East Asia.
Eren Ergin, CEO of BECIS commented: “This loan commitment from BII and FMO represents trust and confidence from esteemed partners in our existing capabilities and growth plans. The funding will enable us to further expand our operations and accelerate the adoption of sustainable energy solutions in the region. We will be well positioned to help our customers achieve their net zero targets and drive sustainable growth.”
Speaking on the investment, Srini Nagarajan, Managing Director and Head of Asia at BII, expressed: “Our investment in BECIS is BII’s first direct debt financing in South-East Asia. The commitment to commercial and industrial renewables reflects the evolving landscape of energy production, where DFIs can play a key role by providing climate finance to support the region’s low-carbon transition. Collaborations with trusted partners like BECIS and FMO underscore the collective effort to mitigate climate change by reducing reliance on traditional on-grid electricity sources.”
Jeesun Han, Manager Energy at FMO, stated: “We are pleased to continue supporting BECIS’s efforts in expanding its clean energy generation and efficiency solutions in South and South-East Asia. BECIS’s service is valuable to its commercial and industrial consumers by meeting their high energy demand in cost-efficient and reliable manners from clean energy sources. Through this transaction, FMO is also delighted to facilitate BII’s first direct financing into South-East Asia as a trusted partner in climate action.”
BII and FMO remain committed to fostering partnerships that drive sustainable development, innovation, and economic prosperity across Asia. This new financing in BECIS embodies their shared vision for a thriving, sustainable future for the region.
About BECIS
BECIS is a leading Energy as a Service (EaaS) provider to high-quality commercial and industrial customers. With the EaaS model, BECIS develops, constructs, operates and owns distributed energy solutions. This reduces the risk and complexity for our customers whilst achieving their key objectives of sustainability, increased cost efficiency and resilience of their energy infrastructure. For more information: please visit https://be-cis.com/
About British International Investment
British International Investment is the UK’s development finance institution and impact investor. As a trusted investment partner to businesses in Africa, Asia and the Caribbean, BII invests to support the UK Government’s Clean Green Initiative and to create productive, sustainable and inclusive economies in our markets. Between 2022-2026, at least 30 per cent of BII’s total new commitments by value will be in climate finance. BII intends to deploy up to £500m in climate finance projects in South-East Asia to support decarbonisation in the region. BII is also a founding member of the 2X Challenge which has raised over $16 billion to empower women’s economic development. The company has investments in over 1,470 businesses across 65 countries and total assets of £8.1 billion. For more information, visit: www.bii.co.uk | watch here. Follow British International Investment on LinkedIn and X.
About FMO
FMO is the Dutch entrepreneurial development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development and has a 50+ year proven track-record in empowering entrepreneurs to make local economies more inclusive, productive, resilient and sustainable. FMO focuses on three sectors that have high development impact: Agribusiness, Food & Water, Energy, and Financial Institutions. With a total committed portfolio of EUR ~13 billion spanning over 85 countries, FMO is one of the larger bilateral private sector development banks globally. For more information: please visit www.fmo.nl
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HONG KONG, Aug. 7, 2024 /PRNewswire/ — COCA, a pioneering force in the crypto wallet and financial services industry, has achieved several remarkable milestones in Q2 2024. Thanks to the steadfast support of its user community, COCA has launched new features, expanded its partnerships, and garnered prestigious accolades, further solidifying its position as a leader in the crypto space.
Launch of Physical Cards
COCA has introduced its highly anticipated physical cards, which are now available globally and compatible with Apple Pay and Google Pay. These cards allow users to make transactions with ease, earning cashback rewards on their purchases. This significant launch marks a step forward in integrating crypto with everyday financial activities, enhancing user convenience and financial flexibility.
Wallet Growth Milestone
The company has reached a significant milestone with 510,000 active wallets, reflecting a 102% growth quarter-on-quarter. This surge in active wallets highlights the increasing trust and adoption of COCA’s platform, as more users join the COCA community to manage their crypto assets securely and efficiently.
Transaction Volume Surge
In Q2 2024, COCA processed over USD 450,000 in transactions through its platform, demonstrating the robust usage and popularity of its financial services. This impressive transaction volume underscores COCA’s commitment to providing smooth and efficient crypto payment solutions.
Integration with Revolut
COCA has made it easier for users to fund their wallets by integrating with Revolut. This new feature allows seamless loading of crypto assets, enhancing the overall user experience and accessibility of COCA’s services.
Award Recognition
COCA has been honoured with the “Best Startup” award in the Financial Revolution category at CONF3RENCE & BLOCKCHANCE 2024. This award is a testament to COCA’s innovative approach and significant impact on the future of finance, recognizing its efforts in driving forward the digital financial ecosystem.
New Strategic Partnerships
COCA has formed strategic partnerships with industry leaders such as Wirex Pay and GoMining. These collaborations aim to provide users with enhanced rewards and a superior overall experience. The partnerships signify COCA’s dedication to expanding its ecosystem and delivering greater value to its users.
Welcoming Pavel Matveev
COCA is excited to announce the addition of Pavel Matveev, Founder of Wirex, to its team as a Strategy and Product Advisor. Pavel’s extensive experience and visionary approach are expected to drive COCA’s strategic initiatives and product development, contributing to the company’s continued growth and innovation.
Season 2 Point System Launch
Season 2 of COCA’s popular point system has launched, offering users the opportunity to earn points through various activities, including trades, referrals, holding assets, and spending with COCA cards. With a prize pool of USDT 3500 and 5 Wirex Pay Nodes, this season promises exciting rewards and increased user engagement. The season ends on August 9th, so users are encouraged to participate actively.
NFT Giveaway
In a special giveaway, COCA distributed 1000 GoMining NFTs to lucky users. These NFTs provide unique benefits, including enhanced mining capabilities and exclusive digital collectibles, adding significant value to the user experience.
For further details on COCA’s Q2 achievements and upcoming initiatives, visit the company’s blog.
Website: coca.xyz
COCA continues to redefine the crypto experience with its innovative solutions, seamless integrations, and user-focused approach. The company’s recent milestones and future plans highlight its commitment to leading the way in the digital financial landscape.
About COCA
COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.
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VICTORIA, Seychelles, Aug. 7, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of GemPool, its innovative new platform that allows users to acquire token airdrops as a reward for staking their crypto assets. This unique product is designed to provide early access to emerging crypto projects while offering rewards for their existing holdings at zero cost. By staking respective tokens in separate pools, users can farm new tokens and gain a foothold in the latest developments within the cryptocurrency market.
GemPool also offers flexible staking terms, allowing users to stake and un-stake their assets anytime within the designated period without lock-up restrictions. This flexibility ensures that users can manage their assets according to their preferences and market conditions. Additionally, GemPool provides zero-cost rewards, enabling users to earn tokens while holding their existing cryptocurrencies. By staking their tokens, users contribute to the growth of promising new projects, supporting innovation and development within the crypto space. With completion of tasks offered, users are eligible to earn multiplier bonus and receive more rewards.
Users can participate by staking KCS, USDT, or other specified assets in designated pools. The rewards are earned according to the respective yields of the pools, ensuring a fair and exciting experience for all users.
For more information on how to participate and the benefits of GemPool, please visit the KuCoin GemPool page.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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Latest News
Trust Wallet Launches Gamified Education Platform and Loyalty Program to Enhance and Reward Web3 Learning
DUBAI, UAE, Aug. 7, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a gamified education platform within the Trust Wallet mobile app which encourages users to earn points while exploring and learning about Web3.
Users can engage in task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and decentralized applications (dApps), and expose them to exciting opportunities within Web3. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.
In the future, Trust Points will offer additional gamification features, such as unlocking achievements, badges, and levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.
On the motive for launching Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet, stated: “The complex technology and fast-paced industry can be intimidating for both new and seasoned users. The introduction of Quests on Trust Wallet further solidifies our commitment to making it easier for millions to navigate Web3, aligning perfectly with our mission to build a seamless Web3 hub and open ecosystem for all.”
Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Trust Points and Quests are just the first iteration of a much-needed reward system for our community. Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”
Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests
About Trust Wallet
Trust Wallet is the self-custody, multi-chain Web3 wallet and Web3 gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, all in one place and without limits.
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