Energy Archives - AsiaPEVC.com

CM Energy’s Green Methanol Breaks Into EU Market With ISCC EU Certification

HONG KONG, Nov 19, 2025 – (ACN Newswire) – As part of the World Maritime Merchants Forum 2025, the Intelligent Ship Building Thematic Forum, hosted by China Merchants Industry Group(CMI) and organized by CM Energy Technology Co., Ltd. (00206.HK, CM Energy), commenced in Hong Kong on November 18. During the event, CM Energy officially launched its green methanol project and obtained the International Sustainability and Carbon Certification (ISCC EU) on the same day. This milestone marks the official entry of CM Energy’s green methanol into the EU market, laying a solid foundation for its global expansion.

CM Energy’s green methanol achieves a more than 70% reduction in greenhouse gas emission intensity compared to conventional fossil-based methanol. The project’s first phase boasts an annual production capacity of 20,000 to 30,000 tons—enough to power two 24,000 TEU container ships for a full year—with deliveries scheduled to begin in December 2025. Following technological upgrades, annual output is expected to reach 60,000 tons.

As the global shipping industry’s transition toward low-carbon and net-zero emissions becomes a universal consensus, green methanol has emerged as a core option for shipping decarbonization. A representative in charge of CM Energy stated that the company has partnered with Shandong Energy Group to build a green methanol plant in Jining, Shandong. By retrofitting existing coal-to-methanol infrastructure and adopting a co-processing route that incorporates biomass, the project not only preserves existing production capacity but also significantly enhances GHG reduction performance—offering a viable solution to the high-cost transition challenge faced by traditional chemical plants.

Currently, all links of the project, including raw material collection, biochar production, and green methanol synthesis, have successfully passed the rigorous ISCC certification, making it the world’s first green methanol project to obtain full-process certification in accordance with ISCC Co-processing Version 2.0 Guidance. The certification not only opens up global market channels for domestic green methanol but also provides a replicable path for low-carbon transition of traditional chemical enterprises worldwide through an asset-light, high-compliance co-processing model.

Wu Sichuan, Chairman of China Merchants Industry Group, highlighted that green technology is one of the three strategic emerging sectors under the Group’s “Third Pioneering Endeavor” initiative. China Merchants Industry will serve as both a “manufacturing scenario implementation and equipment innovation platform,” while CM Energy will take the lead in green energy equipment and supply. China Merchants Industry is committed to becoming a cost-leading, green technology-driven manufacturing enterprise driven by technological innovation, led by digital transformation, and based on lean management, contributing to the high-quality development of the shipbuilding industry and supporting the accelerated construction of a transportation power and a maritime power.

Also during the event, Bureau Veritas, an internationally recognized certification body, awarded the ISCC EU certification certificate for green methanol to CM Energy. The certification ceremony was attended by distinguished guests including Zheng Nanfeng, Professor of Xiamen University and Director of Tan Kah Kee Innovation Laboratory; Alexander Döll, CEO of the Global Methanol Fuel Association; Nicolas Brown, Corporate Affairs Director of Bureau Veritas; Mei Xianzhi, General Manager of CMI; Li Hongyuan, Deputy General Manager of the Strategic Development Department (Science and Technology Innovation Department) of China Merchants Group; Mei Zhonghua, Deputy General Manager of China Merchants Industry and Chairman of CM Energy; and Zhang Zhen, Independent Director of CM Energy.

As an important platform for China Merchants Group’s green technology development, CM Energy is stepping up its layout in the green energy value chain—with a focus on hydrogen, methanol, and ammonia—in both equipment manufacturing and energy supply services. The company strives to become a leading integrated service provider for marine green energy and equipment in China. Moving forward, CM Energy will continue to collaborate with partners to expand green methanol production capacity, promote the development of a complete green methanol industrial chain —from feedstock to bunkering—advancing the widespread adoption of green methanol in the global market.

Karbon-X Advances Alberta Solar Rewards Program to Expand Homeowner Access to Verified Carbon Credits

Karbon-X Corp. (OTCQX: KARX), a leader in end-to-end climate solutions, is advancing the development of the Alberta Solar Rewards Program in partnership with an Alberta-based solar provider. The initiative is designed to enable homeowners with rooftop solar systems to generate verified carbon credits under Alberta’s Technology Innovation and Emissions Reduction (TIER) framework.

The initiative addresses a longstanding gap in the regulated carbon market, where individual resident systems have traditionally lacked a compliant pathway to receive recognition or compensation for their emissions reductions. Through a streamlined process co-developed with its partner, Karbon-X facilitates secure data collection, validation, and credit issuance while its partner manages homeowner onboarding and engagement.

“This is about democratizing the carbon market,” said Chad Clovis, Chief Executive Officer of Karbon-X “We are giving homeowners the same access and opportunity as large industrial players. This move not only adds value for our customers but significantly enhances the credibility and scope of Alberta’s climate strategy”

The Alberta Solar Rewards Program complements Karbon-X’s broader strategy across renewable energy and carbon credit markets. In 2025, the company’s market leadership was proven with the transaction of millions of international renewable energy certificates (iRECs) across four continents further reinforcing its presence as a global participant in renewable energy markets.

Looking ahead, Karbon-X is conducting feasibility studies on more than ten new solar projects, ranging from utility-scale developments in South America to commercial and residential installations on the U.S. West Coast. Together, these efforts highlight the company’s integrated approach across residential engagement, global trading, and project development.

About Karbon-X

Karbon-X Corp. (OTCQX: KARX) is a vertically integrated climate solutions company and emissions mitigation provider. The company manages the full carbon credit lifecycle, including project origination, emissions quantification, third-party validation, credit issuance, and market distribution. Karbon-X operates across multiple regions and sectors, supporting both compliance and voluntary carbon markets. Its services include emissions data analysis, regulatory alignment, credit commercialization, and digital infrastructure for tracking and reporting. Karbon-X operates with a focus on transparency and co-benefit delivery, ensuring adherence to recognized international standards and accredited verification bodies.

Media Contact
Emma Caputo
VP of Marketing
Karbon-Xec@karbon-x.com

Forward Looking Statement

This news release contains forward-looking statements, including but not limited to expectations related to Karbon-X Corp.’s financial performance, business strategy, growth plans, market positioning, and the anticipated development of the Alberta Solar Rewards Program and related renewable energy activities. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially. Forward-looking statements are subject to change, and Karbon-X Corp. assumes no obligation to update them, except as required by law.

Summit Group Responds to White Paper Citing Governance Issues in Bangladesh’s Power and Energy Sector

Summit Group, Bangladesh’s largest private sector power generation company, has issued clarifications in response to a recent draft of a government White Paper, and said it welcomes transparency and remains committed to the highest levels of corporate governance and corporate social responsibility (CSR) in the country.

Bangladesh media have reported widely on a draft of the ‘White Paper on the State of the Bangladesh Economy’ released in recent weeks by the interim government led by the Honourable Chief Adviser Dr. Muhammad Yunus. The document said Bangladesh’s power and energy sector faced challenges such as excess capacity, dependence on imports of gas and under-development of domestic natural gas resources.

Summit Power International Limited (SPIL), the Singapore-registered parent of Summit Corporation Limited (“SCL”) – the leading foreign direct investor in Bangladesh’s power sector – has responded to statements in White Paper which referred to SCL’s assets or subsidiaries.

1) The draft White Paper referred to Summit Group as being one of the “selected large conglomerates” which enjoyed “exemptions on project income” and “exemption on income arising from power generation”.

SPIL said these exemptions cited were part of a broader policy initiative that applied to the entire power and energy sector in the country. “The policy, i.e. Private Sector Power Generation Policy framed in 1996, designed to attract investment and meet Bangladesh’s critical energy needs, encompassed approximately 104 projects. These exemptions were not exclusive to Summit Group but were reflective of a sector-wide strategy to enhance Bangladesh’s energy capacity to ensure sustainable development,” SPIL said.

2) The “Other Common Malpractice” section in the White Paper alleged that contract conditions were changed after it was awarded, and singled out the Summit Meghnaghat 335 dual fuel power plant for switching from heavy fuel oil (“HFO”) to high-speed diesel (“HSD”) without changing capacity payment or heat rate as an example.

The Bangladesh Petroleum Corporation, the supplier of energy oil, was unable to provide the specified oil under the original agreement and instead reached an understanding with the Bangladesh Power Development Board to supply alternative oil, SPIL said.

“In order to maintain operations and fulfil its commitments, Summit Meghnaghat was obliged to accept this change but remains prepared to accept oil in accordance with the original tender conditions,” SPIL said.

Through SCL, the Summit Group operates 18 power plants with a combined generation capacity of 2,255MW or approximately 17% of the total installed private power generation capacity in the country of 173 million people.

3) The White Paper listed Summit Power Limited among 83 companies listed on the Dhaka Stock Exchange that had been “unfairly excluded” from certain regulatory activities, and said market rigging was endemic in the domestic equity market.

“Summit Power Limited has always conducted its affairs with the highest levels of corporate governance. Its Board of Directors comprises eminent and well-respected corporate figures. At no time has the company ever engaged in market rigging,” SPIL said.

4) Regarding Bangladesh’s second Floating Storage and Regasification Unit (“FSRU”), which Summit Group operates, the White Paper alleged public funds were misused because Summit supplied LNG at a premium while natural gas reserves were available with the Bangladesh Oil, Gas and Mineral Corporation (“Petrobangla”).

SPIL said that Summit’s FSRU was not responsible for the supply of gas and, accordingly, has not imported or supplied any gas to date. The long-term supply contract signed between Summit Oil and Shipping Company Limited and Petrobangla was at the lowest price of all contracts awarded at the time, including for OQ Trading and Excelerate Energy (“Excelerate”). In any event, Summit has not yet imported any gas under the long-term supply contract.

Further, Summit’s FSRU did not receive any special exemptions, and its daily tariff/charter rate is lower than that of the Moheshkhali Floating LNG owned by Excelerate, the only other FSRU in Bangladesh. The incentives referenced were part of an industry-wide framework that applies to both Excelerate and Summit’s FSRU projects.

“As a responsible corporation with a track record of providing energy and power to Bangladesh, Summit Group has always respected and adhered to the laws of both Bangladesh, where SCL operates, as well as Singapore, where SPIL is domiciled,” SPIL said. “We are dedicated to contributing meaningfully to Bangladesh’s growth and prosperity. Our operations in Bangladesh have consistently adhered to all regulations, and we take pride in upholding the highest standards of integrity and governance,” SPIL said.

“Being a dependable partner in nation building, we remain open to dialogue with all stakeholders,” it added. “We invite committee members preparing the White Paper to engage and seek clarification where needed. As a substantial foreign direct investor, the Summit Group has always conducted its affairs in a transparent manner while striving to support the long-term development of Bangladesh,” it added.

About Summit Power International Limited (SPIL)
SPIL is the largest Independent Power Producer (IPP) in Bangladesh, reflecting 17% of the country’s total private installed capacity and 7% of the country’s total installed capacity. Summit owns and operates a total of 18 power plants with a combined generation capacity of 2,255MW. It also operates Bangladesh’s second Floating Storage and Regasification Unit (FSRU) and LNG import terminal with daily regasification capacity of 500 million cubic feet.

SPIL is a privately-held Singapore-registered company that is 78%-owned by the family of Mr Muhammed Aziz Khan. In 2016 SPIL acquired Bangladesh-registered Summit Corporation Ltd (SCL) in a transaction that was financed primarily by International Finance Corporation, the World Bank’s private sector arm. SCL holds various infrastructure assets in Bangladesh. In 2019, JERA Co., Inc., Japan’s largest power generation company, acquired a 22%-stake in SPIL and remains its second largest shareholder to date.

Learn more at: www.summitpowerinternational.com

Media Contact
WeR1 Consultants Pte Ltd
WhatsApp (Text): (+65) 9748 0688
Email: summit@wer1.net

SGX-Listed Mooreast Appoints Norwegian Eirik Ellingsen as CEO to Drive Growth in Global Floating Offshore Wind Market

Mooreast Holdings Ltd. (“Mooreast” or the “Group”), announced today it will appoint Mr Eirik Ellingsen, a Norwegian with deep experience in the offshore and marine sector, as Chief Executive Officer (“CEO”) amid growing adoption of floating wind energy projects worldwide.

Mr Eirik Ellingsen’s appointment, which will begin 1 January 2025, comes amid the growing commercialisation of floating offshore renewable energy projects

Mr Ellingsen will assume the role of CEO at Mooreast on 1 January 2025. He will be taking over from Mr Sim Koon Lam, the founder, who will continue to serve as Executive Director and Deputy Chairman of the Group.

Mooreast is a total mooring solutions specialist and Asia’s only ultra-high power anchor manufacturer primarily serving the offshore renewable energy, offshore oil & gas and marine industries. With operations in Singapore and the Netherlands, the Group is establishing a manufacturing facility in Aberdeen, Scotland, and is making forays into the North East Asia market.

In June 2024, the Group announced that it was acquiring 60 Shipyard Crescent from a subsidiary of Seatrium Limited. The acquisition increases Mooreast’s total land area to 129,609 sqm (approx. 1.4 million sqft) and quadruples its production capacity to produce enough subsea foundation to support between 1.5 gigawatts (“GW”) to 2GW of floating offshore wind energy per annum compared to its current capacity of 0.5GW.

Mr Ellingsen, who is also a resident of Singapore, brings over 35 years of experience to the role. He is currently serving as Director of Offshore Wind in the Asia Pacific at independent non-profit foundation Norwegian Energy Partners (“Norwep”). In that role, he built strong relationships with the global offshore wind industry across South Korea, Japan, Taiwan, the Philippines, Vietnam and Australia. His last day at Norwep will be 31 December 2024.

Before joining Norwep, Mr Ellingsen held several key roles in the global offshore industry. Notably, he served as Group Executive Director for Ferguson Group Ltd, where he oversaw its global container and modular business, and established its Singapore operations in 2008. He also founded Norway-based Ferdocean AS in 2018 which was sold in 2022. Following the sale, he was appointed Non-Executive Director of Ferdocean AS, where he provided strategic operational oversight of the business.

Mr Ellingsen holds certifications in Business Sustainability Management from the University of Cambridge, Leadership and Competence Development for Board and Committee Members from the University of Stavanger and in Foundation Program in Business Administration from the BI Norwegian School of Management. Additionally, he is a certified ISO 9001, 14001, 27001 Lead Auditor through the Knowledge Academy.

Mr Ellingsen’s appointment comes amid the growing commercialisation of floating renewable energy projects, which are moving further offshore to deeper waters, driving demand for advanced mooring solutions such as anchoring techniques and synthetic mooring lines.

Floating wind farm developers require an innovative partner with a reliable network of suppliers and manufacturing capabilities to reduce costs and address supply chain challenges. This presents Mooreast with a strong opportunity to offer its cutting-edge mooring solutions.

Mooreast said it would leverage on Mr Ellingsen’s extensive expertise and network within the offshore wind industry to capture business opportunities, as the Group positions itself as a key player in the global floating offshore wind market.

Commenting on the appointment, Mr Sim Koon Lam said, “We are delighted to welcome Mr Ellingsen to the team; his experience, strong track record and deep industry knowledge and network will further accelerate our push towards the floating offshore renewable sector. We are confident he will strengthen our strategic direction, propel the Group to the next level and deliver long-term value to our shareholders.”

Mr Eirik Ellingsen said “I am deeply honoured and excited to take on the role of CEO at Mooreast. I look forward to working with the Mooreast team to implement key transformation strategies to build momentum and achieve the Group’s long-term vision of becoming the leading mooring solutions provider within the floating renewable energy sector.”

Leveraging more than 30 years of mooring and offshore marine expertise, Mooreast total mooring solutions include the design, engineering and fabrication of specialist anchors and equipment, as well as geotechnical and geophysical studies such as soil data analysis to determine project feasibility and engineering design for mooring configuration for floating wind turbines. The Group also incorporated Mooreast Taiwan in May 2024 and Mooreast Malaysia in July 2024.

This press release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, W Capital Markets Pte. Ltd. (the “Sponsor”). This press release has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Ms Alicia Chang, Registered Professional, W Capital Markets Pte. Ltd., at 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 6513 3525.

Issued for and on behalf of Mooreast Holdings Ltd. by WeR1 Consultants Pte Ltd.

About Mooreast Holdings Ltd.

Mooreast is a total mooring solutions specialist, serving mainly the offshore renewable energy, offshore oil & gas (“O&G”) and marine industries, with operations primarily in Singapore, the Netherlands through its wholly-owned subsidiary in Rotterdam Mooreast Europe, and offices based in Scotland, Taiwan and Malaysia.

Mooreast’s solutions include the design, engineering, fabrication, supply and logistics, installation and commissioning of mooring systems. Mooreast is applying its experience and expertise in mooring solutions to floating renewable energy projects, in particular floating offshore wind farms. It has successfully participated in developmental and prototype projects for floating offshore wind turbines in Japan and Europe.

For more information, please visit https://mooreast.com/

Media & Investor Contact Information
WeR1 Consultants Pte Ltd
1 Raffles Place #02-01
One Raffles Place Mall Suite 332
Singapore 048616
Isaac Tang, mooreast@wer1.net (M: +65 9748 0688)

COP29: Indonesian Special Envoy Hashim Djojohadikusumo Announces EUR 1,2 Billion Green Funding

MoU with PT PLN (Persero) and KfW (Germany) to develop Pumped Storage Hydropower Plant (PLTA) and Transmission

The Indonesian Government, through Special Presidential Envoy of the Republic of Indonesia Hashim Djojohadikusumo, announced EUR 1.2 billion in green funding for the Indonesian power sector from German state development bank Kreditanstalt für Wiederaufbau (KfW) at the COP29 World Climate Conference in Baku, Azerbaijan, on Wednesday (11/13). The conference runs through Friday (11/22).

COP29 MoU: Indonesian Special Presidential Envoy Hashim Djojohadikusumo (second left), with PLN President Commissioner Burhanuddin Abdullah (second right), PLN President Director Darmawan Prasodjo (right), and Kreditanstalt fur Wiederaufbau (KfW) Chief Sustainability Officer Jurgen Kern at the signing, themed “Leading the Charge: Strategic Partnership to Catalyze Decarbonization” in Baku, Azerbaijan on Wednesday, Nov 13.

The agreement was marked by the signing of a Memorandum of Understanding (MoU) between PT PLN (Persero) and KfW to support Indonesia’s energy transition towards self-sufficiency with the development of various green power and clean energy projects, centered on the Pumped Storage Hydroelectric Power Plant (PLTA) and transmission network connecting with green power plants.

Hashim emphasized that the government is committed to accelerating the energy transition. By fostering collaborations at the global level, the shift towards renewable energy is expected to support energy self-sufficiency and drive national economic growth. “We have developed a new strategy over the next five years to achieve a minimum of 8% sustainable economic growth,” Hashim affirmed.

He stated that the development of clean energy sources is crucial for enhancing industrial competitiveness. Over the next 15 years, Indonesia’s renewable energy generation capacity is targeted to increase by 75% from the total addition of 100 gigawatts (GW) in electricity capacity.

“We will be a major country fulfilling our responsibility to protect the environment’s future. We deeply appreciate the established international cooperation as a joint effort toward reaching the Net Zero Emissions (NZE) target,” Hashim explained.

PLN President Director Darmawan Prasodjo expressed full support for the government’s initiatives in advancing the energy transition. Various collaborations and initiatives have been implemented by PLN to ensure the success of sustainable electricity projects. Darmawan noted that KfW’s involvement in PLN’s green projects is expected to attract more international partners to collaborate.

This will create a synergy of sustainable strategic, technical, and investment collaboration in global climate action. “This collaboration signifies PLN’s proactive steps in expanding international partnerships to enhance national energy self-sufficiency in line with global climate actions,” Darmawan stated.

KfW Group’s Sustainability Officer, Jurgen Kern, explained the KfW support for Indonesia represents Germany’s commitment to international cooperation for green transformation. Further, Jurgen highlighted that PLN is at the center of Indonesia’s energy transition. PLN is strongly committed to greening the energy sector while ensuring reliable energy access.

“Therefore, we believe that Indonesia and Germany can continue strengthening their partnership in the energy sector, especially in clean energy projects like geothermal, hydropower, and transmission. Achieving the NZE target requires solid collaboration and partnership,” Jurgen said.

– Antara, for PT PLN (Persero), https://web.pln.co.id/en/sustainability/sustainability/.
– Indonesia: https://indonesia.go.id/, KfW Germany: https://www.kfw.de/kfw.de-2.html

COP29 Climate Change Conference Must Address Acute Challenges of Developing Countries Such as Bangladesh – Summit Power International Limited

The U.N. Climate Change Conference next week needs to urgently address major gaps in funding and technology and adopt fresh approaches to meet the challenges of developing countries with vulnerable communities such as Bangladesh, Summit Power International Limited (SPIL), the country’s largest private sector power generation company, said today.

Singapore-headquartered SPIL, the leading foreign direct investor in Bangladesh’s power sector, said it hoped the widely anticipated COP29 Climate Change Conference starting 11 November in Azerbaijan will lead to an actionable agenda that can balance global net zero targets with the needs of poorer countries seeking to eradicate poverty and create jobs on an accelerated scale.

SPIL operates 18 power plants with a combined capacity of 2,255 MW or approximately 17% of the total installed private power generation capacity in the country of 173 million people. As a responsible company with a strong track record of providing energy and power to Bangladesh, SPIL is acutely aware of the international initiatives to de-carbonise.

At COP21 in 2015, 196 countries signed the Paris Agreement with collective commitments to limit global warming. However, subsequent global financing initiatives have been deadlocked. Among the key initiatives of COP29 is a New Collective Quantified Goal to deliver substantive climate financing to regions that need it most.

Beyond the pledges, global climate goals must also take into consideration challenges unique to each country, especially the lesser developed, said SPIL. Prior to COP29, SPIL had outlined its internal Climate Action Plan to support Bangladesh’s stated goal (declared at the COP26 in Glasgow in 2021) to achieve up to 40% of clean energy use in its power generation mix by 2041.

“Both the national and SPIL’s own de-carbonisation targets have to be viewed against the backdrop of the pandemic and subsequent supply chain disruptions as well as the conflict in Ukraine which drove up prices of fossil fuels. Bangladesh, which has to contend with cyclones and flooding on a regular basis, has felt the impact of such disruptions more acutely than most other countries.

“We hope COP29 – whose leaders have promised engagement, ambition, and action – will address decisively real-world issues from the perspective of developing nations and responsible corporates involved in the energy eco-system, such as SPIL. We look forward to holistic approaches that avoid a one-size-fits-all mindset,” SPIL said.

SPIL’s Founder and Chairman, Mr Muhammed Aziz Khan, a Singapore citizen, said: “We hope COP29 adopts approaches fairly and equitably to address the social and economic impact, particularly for vulnerable communities and workers in fossil fuel industries in developing countries. A just energy transition must promote circular economy principles that benefit local populations to ensure resilience.

Second, international organisations, governments, and corporations must provide funding and technology to support the energy transition. For developing countries such as Bangladesh, such approaches must combine development finance and foreign direct investments.

Third, different regions will have different timelines to progress towards net zero. For the near term, Bangladesh’s power sector – which has been facing issues of imbalance of supply and demand and delays in payments – needs to reduce dependence on coal or heavy fuel oil and increase usage of natural gas which is less carbon-intensive, even as it pursues initiatives in renewable energy.”

As part of its Climate Action Plan, SPIL has committed not to develop new fuel-fired power plants in Bangladesh. It will also reduce its Scope 1 and Scope 2 emissions by 10% by 2030 as compared to its 2021 baseline and plans to derive 40% of its energy generation portfolio from clean energy sources by 2040. SPIL has also formed a Sustainability Task Force under the leadership of the CEO.

As part of its Climate Action Plan, SPIL has committed not to develop new liquid fuel-fired power plants in Bangladesh. It will also reduce its Scope 1 and Scope 2 emissions by 10% by 2030 as compared to its 2021 baseline and plans to derive 40% of its energy generation portfolio from clean energy sources by 2040. SPIL has also formed a Sustainability Task Force under the leadership of the CEO.

While recognising geographical limitations in Bangladesh for large-scale solar or wind farms, SPIL has outlined plans to invest or obtain international financial support for up to USD 3 billion in renewable energy projects in the country.

About Summit Power International Limited (“SPIL”)
SPIL is the largest Independent Power Producer (IPP) in Bangladesh, reflecting 17% of the country’s total private installed capacity and 7% of the country’s total installed capacity. SPIL owns and operates a total of 18 power plants with a combined generation capacity of 2,255MW. It also operates Bangladesh’s second Floating Storage and Regasification Unit (FSRU) and LNG import terminal with daily regasification capacity of 500 million cubic feet.

Learn more at: www.summitpowerinternational.com

Media Contact
WeR1 Consultants Pte Ltd
WhatsApp (Text): (+65) 9748 0688
Email: summit@wer1.net

Summit Group Urges Government of Bangladesh to Reverse Decision to Terminate FSRU Project

Summit LNG Terminal II Co Ltd (SLNG II), a unit of Summit Group, has urged the Government of Bangladesh to reverse its decision to terminate the third Floating Storage and Regasification Unit (FSRU) project in the country.

SLNG II said it had received a notice from the Bangladesh Oil, Gas & Mineral Corporation (Petrobangla) on 7 October notifying the termination of the project situated at Moheshkhali in Cox’s Bazar.

The Moheshkhali terminal (“2nd FSRU”) in southeast Bangladesh is the second floating gas terminal project undertaken by Summit Group with a planned regasification capacity of 600 million standard cubic feet per day.

In response to media queries, SLNG II wishes to clarify the following:
1) In late 2020, the Government of Bangladesh made a strategic decision to transition from coal-fired power generation to natural gas, a cleaner energy source. The initiative was also aimed at boosting gas supply to ensure energy security and support industrial growth. Summit Group submitted a proposal on 11 October 2021, to implement a FSRU on a Build, Own, Operate, and Transfer (BOOT) basis. The proposal was approved by the Cabinet Committee on Economic Affairs on 14 June 2023.

The approval followed two years of extensive negotiations and consultations with international law firms to address the contractual and technical challenges.

2) Summit, in collaboration with Petrobangla and Rupantarita Prakritik Gas Company Limited (“RPGCL”), finalized the Terminal Use Agreement (“TUA”) and Implementation Agreement (“IA”) on 12 October 2023. These were legally vetted and approved by the Cabinet Committee on 12 December 2023.

3) SLNG II signed the TUA and IA on 30 March 2024 with Petrobangla and Government of Bangladesh (“GoB”) for the 2nd FSRU. On the same day SLNG II also signed a long-term Sale and Purchase Agreement (“SPA”) to supply 1.5 million tonnes of liquefied natural gas (“LNG”) to Petrobangla, starting in October 2026.

4) To fulfil the initial conditions precedent (“CPs”) of the agreements signed on 30 March 2024, SLNG II has to date committed investments of approximately USD 15 million to implement the 2nd FSRU.

5) The termination notice received on 7 October 2024 was issued on the basis that the agreements signed on 30 March 2024 had not become effective as a performance bond was not submitted within 90 days as stipulated, i.e. on 28 June 2024. SLNG II said that as that date fell on a Friday (not a banking day in Bangladesh), the performance bond was delivered on the next possible working day, with acknowledgement by Petrobangla.

6) SLNG II’s lawyers have confirmed that SLNG II had not breached any CPs of the agreements of 30 March 2024. Even if any CP was delayed, Petrobangla did not notify SLNG II within the agreed 30-day window and had therefore deemed the CP as accepted.

“SLNG II is owned by Summit Power International Limited (“SPIL”), the largest private sector investor in energy in Bangladesh with a proven track record of developing long-term infrastructure projects in a responsible and transparent manner. SPIL has stated that our investments have helped to catalyse foreign direct investment (“FDI”) into Bangladesh.

We respectfully urge the Government of Bangladesh to uphold the sanctity of contracts and to ensure that investors’ rights are protected and treated fairly and equitably,” SPIL said.

Media Contact
WeR1 Consultants Pte Ltd
Isaac Tang and Shindy Kaur
WhatsApp (Text): (+65) 9748 0688
summit@wer1.net

Verofax and NetGreen Announce Strategic Alliance to Accelerate Global Reforestation Efforts

– Expediting the Journey to Net Zero –

In a landmark initiative to combat climate change, Verofax, a leader in blockchain traceability and AI technologies, has partnered with climate tech startup NetGreen to activate retail channels to lead the change in re-greening our planet with trust and transparency.

Wassim Merheby, CEO of Verofax, with Nisreen Shadad, CEO & Co-founder of Netgreen.

This Memorandum of Understanding (MOU) between Verofax’ advanced technological solutions and NetGreen’s platform comes at a crucial time as businesses and consumers increasingly prioritize sustainability.

In fact, 88% of consumers want to make an environmental impact, but lack a trusted platform that is easy and affordable. NetGreen’s platform meets an urgent market need where individuals can purchase a plant-a-tree service from validated reforestation projects to combat climate change.

NetGreen’s unique approach enables participants to directly engage in reforestation through everyday transactions, such as converting loyalty points into tree plantings. This model not only supports carbon sequestration but also enhances biodiversity and fosters a deeper connection between communities and their natural environments.

Preventing Double Counting & Ensuring Validation of Reforestation Projects
With Verofax validating, reforestation projects becomes seamless using Verofax’ Tree Chain technology for identifying, tracking and measuring the carbon capture from trees using computer vision, AI drone feeds, geolocation, and an immutable ledger.

These technologies will automate operations to prevent double counting and ensure their alignment with the latest international standards, including Verra and UNFCCC CDM.

Nisreen Shadad, CEO and Co-Founder of NetGreen, stated, “Partnering with Verofax propels us towards our vision of a greener planet by enhancing the reach and effectiveness of our reforestation projects. Their advanced technology solutions will allow us to provide undeniable proof of impact to our participants, increasing trust and participation rates. This is a game-changer for environmental engagement.”

Wassim Merheby, CEO of Verofax, said, “This partnership is an excellent opportunity to showcase how innovative technology can be harnessed to address some of the most pressing environmental challenges. By supporting NetGreen, we are not only contributing to scaling reforestation but also demonstrating the potential for technology to create significant positive change.”

The MOU between Verofax and NetGreen is poised to set a benchmark for how technology can facilitate more sustainable practices across industries and communities worldwide. It underscores both companies’ commitment to leveraging strengths in promoting an environmental stewardship and global sustainability.

About Verofax
Verofax specializes in providing sustainable solutions with advanced track and trace capabilities through product serialization and blockchain technology. Their solutions enhance compliance and transparency across industries, promoting environmentally responsible practices. For further details, visit https://www.verofax.com.

About NetGreen
NetGreen is a climate action application that empowers individuals and businesses to participate actively in tree-planting projects aimed at re-greening the planet, expediting the journey Net Zero. Led by CEO Nisreen Shadad, the platform enables effective afforestation participation, enhancing biodiversity and fostering community connections to natural habitats. For more information, please visit https://netgreen.live.

For additional information, please register at https://netgreen.live/inquiry, join our community at https://linktr.ee/netgreen.live, or contact us at impact@netgreen.live.

Best BLUETTI Prime Day Deals on Portable Power Stations and Solar Generators

The best time of year to buy portable generators for outdoor activities and outage preparedness

As Amazon Prime Day 2024 approaches, BLUETTI, a leading provider of eco-friendly power solutions, is joining the Prime Day Sale with unbeatable deals on various portable solar generators from July 16-31 on Bluetti Official. Savvy shoppers can grab the best portable electric generators for camping, home backup, and off-grid living at the lowest prices.

BLUETTI AC70 Compact Camping Generator.
A$899 (18% OFF) on BLUETTI
The BLUETTI AC70 is a compact and powerful solar generator with 1,000W rated power(2,000W surge) and 768Wh capacity, perfect for camping trips. The AC70 has 7 outlets to power essential devices like CPAP machines, phones, monitors, coolers, and fridges. Plus, it recharges fast via 950W turbo AC charging or 500W solar, reaching 100% in 1-2 hours. It even supports app control and UPS function for emergency use.

BLUETTI AC200L Quiet RV Generator
$2,399(20% Off ) on BLUETTI
For RV enthusiasts, the BLUETTI AC200L offers a robust solution for all power needs on the road. With 2,400W of output power, it can handle most demanding appliances such as air conditioners, microwaves, and refrigerators. It has a 2,048Wh capacity, expandable to 8,192Wh with additional battery modules for longer runtime. The AC200L supports 6 ways to charge, including 1,200W solar and 2,400W AC charging. It’s whisper-quiet at 44 dB from a meter away, according to HoboTech’s real-world testing, ideal for campers, travel trailers, and camper vans.

BLUETTI AC300/AC500 Home Backup Power Solutions
AC300+B300 for A$4199 (23% Off ), on BLUETTI
AC500+B300S for A$4999(26% Off ), on BLUETTI

The modular AC300 and AC500 energy storage are customizable power backup solutions for homes and off-grid residences. Both have a responsive UPS function to keep lights on and refrigerators humming seamlessly during power outages.

The AC300+B300 combo offers a 3,000W output and a 3,072Wh capacity, expandable to 12,288Wh, enough to power a home for about 4 days. While the AC500+B300S goes further with 5,000W power and an expandable capacity of up to 18,432Wh. They support multiple charging methods from wall outlets, solar panels, generators, and vehicles to power through prolonged power outages.

Popular BLUETTI Prime Day Deals
BLUETTI offers great deals on popular devices like the AC180, available for A$1099 (27% Off) on BLUETTI. With 1,800W output and 1,152Wh capacity, it’s perfect for powering multiple devices. The newly launched AC50B is A$529 (24% Off) on BLUETTI with a 700W output and 448Wh battery, ideal for outdoor adventures and emergencies.

BLUETTI Prime Day Surprises
During the sale, customers can receive a free t-shirt for orders over A$1,000 on official BLUETTI. On July 16th and 17th, they can earn triple BLUETTI Bucks on orders, redeemable for BLUETTI products and coupons. Anyone can get A$50 off their A$1,000 BLUETTI purchases on website by using the code: PR50.

Visit BLUETTI to secure the best prime day deals on portable generators and home backup solutions at unbeatable prices.

About BLUETTI
As a technology pioneer in clean energy, BLUETTI is committed to a sustainable future by providing affordable green energy storage solutions for both indoor and outdoor use. Through initiatives like the LAAF (Lighting An African Family) program, BLUETTI is dedicated to bringing power to 1 million African families in off-grid areas. With a strong focus on innovation and customer needs, BLUETTI has established itself as a trusted industry leader in over 100 countries and regions.

CONTACT:
Name: Tara Fu
Email Address: tara@bluetti.com

SOURCE: Bluetti Power Inc.

BLUETTI Releases New AC50B with Exciting Offers Leading Up to Prime Day 2024

BLUETTI, a technology pioneer in clean energy, is launching its newest product, the AC50B portable power station on July 9, ahead of Prime Day 2024. Leading up to this year’s shopping event, BLUETTI is also offering exclusive presale offers on its top generators from July 1-15.

Introducing the AC50B: Smart Portable Power for Maximum Runtime
The AC50B is the newest addition to BLUETTI’s lineup of portable power generators, positioned between the compact 300W AC2A and the robust 1,000W EB70. This 700W unit boasts a 448Wh LFP battery, making it perfect for powering devices such as phones, cameras, lamps, and laptops. With 5 versatile outlets, the AC50B is an essential companion for outdoor adventures and emergency situations.

The AC50B stands out with its exceptional minimal self-consumption and extended battery life, achieved through BLUETTI’s innovative technologies. The AI-powered BLUETOPUS Battery Management System (BMS) optimizes energy use and enhances charging efficiency. The AC50B can recharge from 0% to full in just 80 minutes, ideal for quick getaways.

Prime Day Lead-Up Deals on BLUETTI Products
BLUETTI AC200P: Ideal for RV and camping, the AC200P features a 2,000W AC output and a 2,000Wh capacity, expandable up to 5,072Wh. It supports 7 ways to recharge (AC/Solar/Car/Generator/Lead battery/Dual AC/AC+Solar). Now available for A$1,799 (37% Off) on Bluetti Official.

BLUETTI AC500 & B300S: Perfect for home backup, the AC500 offers 5,000W rated power and an expandable capacity from 3,072Wh to 18,432Wh. It features a responsive UPS function with an auto-switch in 0.02 seconds during power outages. Now available for A$4,999 (26% Off ) with a free trolley on website.

Exclusive Prime Day Surprises
From July 1 to July 15, BLUETTI is offering special vouchers on their official website. Spend A$30, A$70, or A$130 to receive a coupon worth A$150, A$250, or A$300, respectively, applicable to single orders over A$1,500, A$2,500, A$3,000. These purchased coupons are valid until July 31.

CONTACT:
Name: Tara Fu
Email Address: tara@bluetti.com

SOURCE: Bluetti Power Inc.