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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

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  • 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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London Blockchain Conference: Day 1 Highlights

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As the inaugural London conference commenced today, attendees heard from industry experts who shed light on Revenue Generation with Blockchain

LONDON, May 21, 2024 /PRNewswire/ — Attendees at the London Blockchain Conference experienced an enlightening first day, kickstarting with informative and thought-provoking speakers, discussing a wide range of topics involving Digital Currency and government policy, trust economy, carbon offset derivatives using blockchain and smart contracts. 

Day 1 of the conference focused on ‘Rev-gen with Blockchain’. The agenda was filled with engaging sessions and discussions that delved into various topics like the Evolution of Web 3 and its impact on the Finance Sector. Attendees also had the opportunity to explore the transformative potential of blockchain technology in areas such as data integrity, accountability, and trust for customers and users. Other notable sessions shed light on the revolutionary role of blockchain in combating counterfeit goods, stable coins, and the Future of Blockchain tokens. 

Throughout the day attendees heard from distinguished speakers who brought their expertise to the forefront.

Blockchain 101 session by Connor Murray, Director of Stewardship at BSV Association who opened the conference by explaining how blockchain technology introduces a new way of interacting with applications and services that have become integral to our digitally connected world.

The keynote speaker for Day 1 was Scott Galloway, Professor of Marketing at NYU Stern School of Business /Entrepreneur who shared his predictions on future trends, analysing the economy, Web3 ecosystem and AI’s transformative potential. He highlighted the products and trends that are receiving too much vs too little attention and investment.

Cybersecurity Future: Blockchain’s Role in Enhanced Security – a panel moderated by John Velossariis, Founder & Director, Otranto Limited, with speakers Joseph Kearney, Research Associate, University of Kent / Block Sphere, and Robert Huber, Tech Lead, Veridat, where they discussed blockchain’s impact on cybersecurity, including decentralised identity management, supply chain security, smart contracts, and DDoS attack defences.

How Teranode delivers blockchain scaling for Enterprise use – Siggi Oskarsson, Director of Teranode at BSV Blockchain, Jordan Kramsky, Solutions Architect at AWS and Behrad Babaee, Principal Architect at Aerospike discussed the pivotal role of Teranode in driving enterprise-level adoption of the BSV blockchain and is poised to revolutionise the blockchain landscape and unlock new possibilities for businesses worldwide.

Owen Vaughan, Chief Scientist Officer at nChain in his session titled, ‘What if your blockchain is different to mine?’, explained the role of Web3 and Blockchain and building a decentralised online ecosystem. He also presented nChain’s Universal Blockchain Assets (UBA) Wallet for interoperable blockchain tokens across other chains.

Tokenisation and the Wine Industry – Steven Bacci, Principal Worldwide Specialist Solutions Architect, AWS and David Garrett, Managing Partner, dVIN discussed how blockchain enhances transparency, and security, offers anti-fraud solutions, and supply chain efficiency and fosters a global community of wine lovers and producers. They also highlighted how dVIN leverages AWS-managed blockchain for innovation and market acceleration.

Solving Blockchain’s Interoperability Challenges – Moderated by Becky Liggero, Reporter, Producer and Host at Coingeek, the panellists Irina Benfrid, B2B Partnerships Lead, Rubic Finance, Clem Chambers, CEO, Online Blockchain, Evelyn Nomaya, PhD Researcher, Trinity College and Ty Everett, Founding President, Project Babbage, focused on solving blockchain’s interoperability challenges and how addressing these interoperability issues is paramount for unleashing the full potential of blockchain technology.  

Establishing Trust in AI: Blockchain – Scott Zoldi, Chief Analytics Officer at FICO, highlighted the critical role of blockchain in enforcing and proving Responsible AI practices. He stressed that the responsible use of AI is vital to society and must go beyond just pledges and ethics committees to ensure genuine accountability.

Please register here if you would like to attend or listen to any of the sessions today. 

About the London Blockchain Conference

NETWORK. LEARN. ENGAGE. 

At the London Blockchain Conference, we show how Blockchain will change the world and help people see another way to manage data, build scalable on-chain solutions and achieve great things. We do this by creating valuable, insightful, and engaging events that educate and inform, allowing you to connect and network to build strong business relationships. Our conference is the best avenue to see blockchain innovations, ecosystem announcements, product launches, technology updates, keynote speeches, panels, and fireside chats from blockchain leaders. Join us and experience it for yourself. 

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The 2024 Qatar Economic Forum, Powered by Bloomberg: A Resounding Success in News-driven Global Discourse

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DOHA, Qatar, May 21, 2024 /PRNewswire/ — The 4th annual Qatar Economic Forum, held May 14 -16 in Doha, concluded on a high note, solidifying its position as a premier platform for navigating the complexities of a rapidly changing global landscape. Powered by Bloomberg and hosted in collaboration with Media City Qatar, the event brought together over 2,700 in-person attendees and boasted a total of 3,592 registrations, including 1,000+ global leaders, CEOs, and 427 government officials from 124 countries.

This year’s edition, held under the theme ‘A World Remade: Navigating the Year of Uncertainty,’ showcased a renewed sense of collaboration and a commitment to addressing the challenges presented by an interconnected world. Globalization and trade, the energy transition, technology and innovation, along with sports and entertainment, and the business and investment outlook, were at the forefront of discussions.

However, fostering collaboration extends beyond the walls of the Forum itself: one of the defining aspects of the event is its unwavering focus on a news-driven approach. The Forum recognizes the media’s critical role in shaping economic, political, and social narratives.  In today’s interconnected world, clear and accurate information is essential for fostering global understanding and cooperation.

The Forum attracted significant media interest, drawing over 160 members of the press from more than 35 media outlets. Over 50 interviews were conducted with key participants, securing prominent coverage across various platforms. The event garnered front-page placement in print publications, featured articles in online media, and prime-time broadcast segments, resulting in hundreds media mentions across 25 countries. This widespread coverage highlights the importance and the impact of the discussions held at the event.

His Excellency Sheikh Dr. Abdulla bin Ali Al Thani, Chairman of Media City Qatar, a key partner of the Forum, emphasized this crucial role.  He highlighted the media’s transformative potential, stressing the need for compelling narratives that not only combat misinformation but also promote understanding across diverse global perspectives.  Through fostering innovation and dialogue, Media City Qatar aims to empower the Gulf’s media industry to become a dynamic force for economic growth and a bridge between cultures. 

The Forum transcended mere rhetoric by witnessing concrete steps toward innovation and collaboration.  The signing of 21 memorandums of understanding (MoUs) stands as a testament to this commitment.  Media City Qatar had two particularly noteworthy partnerships announced at the Forum with Qatar University (QU) and the Qatar Research, Development and Innovation (QRDI) Council.

These notable partnerships are set to pave the way for substantial growth in Qatar’s media sector by enhancing technological capabilities, providing comprehensive training programs, and fostering a conducive environment for innovative media companies. They further underscore Media City Qatar’s commitment to transforming Qatar into a global media hub and creating high-skilled job opportunities in the media industry.

ABOUT MEDIA CITY QATAR

Media City Qatar (MCQ) is an emerging, collaborative global hub for media companies, entrepreneurs, innovators, and creative talent, and a regional leader in the media industry, contributing to Qatar’s economic diversification. It accelerates the evolution of regional media to create a powerful and innovative ecosystem where exceptional ideas and content thrive. Media City Qatar was established to streamline necessary regulations, develop businesses and unlock investment opportunities to support the media ecosystem in Qatar under its regulatory, developmental, and investment mandates.

Media City Qatar aims to foster a nurturing environment and a hub for traditional and digital media, technology, communications, research, and development. From broadcasting to traditional and digital newspapers, from gaming to user-generated content, and enabling AI and advanced technologies. Media City Qatar welcomes media businesses across different media segments of various scales to join.

For more information, visit www.mediacity.qa or follow us on @mediacityqa |#mediacityqatar

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Media City Qatar booth at the 4th Qatar Economic Forum

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Lukka Acquires Coinfirm bringing Audited Data to Blockchain Analytics, Compliance, and Investigations

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NEW YORK, May 21, 2024 /PRNewswire/ — Lukka, the global leader in enterprise digital asset data and software solutions, proudly announces its acquisition of Coinfirm, a top-tier European based blockchain analytics software company. This acquisition deepens Lukka’s existing capabilities to now support a comprehensive set of on-chain analytics of compliance, AML, sanction screening, entity due diligence, and investigations business needs. The new combined offering utilizes the industry’s only audited, institutional grade datasets at a time when trust in the quality and accuracy of data has become essential.

Since 2016, Coinfirm has been at the forefront of digital asset transaction analysis and monitoring, specializing in compliance, AML (Anti-Money Laundering) detection, and advanced blockchain analytics. Lukka’s enterprise focused approach integrates Coinfirm blockchain data into its platforms with conventional financial information, and maintains existing trusted standards in the form of an AICPA SOC Operational risk controls. Coinfirm was a natural addition to Lukka’s existing product suite due to their prior adherence to AICPA SOC 2 standards, audited by a Big 4 accounting firm. 

“Our customers have stated very clearly that they want data that they can trust and that they have too many overlapping vendors, which creates inefficiency and unnecessary spending. We spent years of due diligence across hundreds of businesses and customer feedback discussions and very carefully selected Coinfirm.

Ultimately, the decision was easy – the team that they have built is incredibly talented and their data quality is best in class. At Lukka we know data and the data behind their on-chain analytics and investigative products was the most comprehensive and highest quality. Lukka is a single provider for all of your crypto data needs.”    said Robert Materazzi, CEO at Lukka.

The integration of the Coinfirm team and products with Lukka is not just an expansion of services but a strategic move towards offering an unmatched range of on-chain and off-chain data solutions.  In addition to Lukka’s commercial strategy, the story doesn’t end with this acquisition. Lukka is continuously assessing opportunities to partner and work with great teams across the world.

About Lukka

Founded in 2014, Lukka serves the most risk-mature businesses in the world with institutional data and software solutions. As a global company, headquartered in the United States, Lukka bridges the gap between the complexities of blockchain data in a global crypto ecosystem with traditional business and reporting requirements.

All of Lukka’s products are created with institutional standards, such as AICPA Service and Organization Controls (SOC), which focus on data quality, financial calculation accuracy & completeness, and managing technology operational risk. Lukka has obtained AICPA SOC 1 Type II and SOC 2 Type II Audits, an ISO/IEC-27001 certification, NIST Cybersecurity Assessment, and continues to lead the industry with best in class technology risk governance.

Our global team looks forward to partnering with you to solve your data challenges.

For information about Lukka, visit lukka.tech.

Media Contact:
Rafal Janik
[email protected] 

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