Wareerat (centre) shows the JVA documents while (from left) Ashweein, Moses, Rehanfairuz and Nasrul Ali Hasssan of MSQ look on.
KUCHING (Feb 7): Evolving Brilliance Technologies Sdn Bhd (EB Tech) – a Sarawakian tech startup, has signed a joint-venture agreement (JVA) with MSQ Engineering and Solutions (Thailand) Pvt Ltd and its counterpart in Malaysia, for a transformative partnership in sustainable technology sector.
In a statement, EB Tech said the JVA marked the commencement of a three-year working relationship focused on the carbon credit management and trading (CCMT) project in Thailand.
“Both EB Tech and MSQ Engineering and Solutions are set to combine their technological expertise and regional insights to drive innovations in the burgeoning Carbon Credit market,” it said.
“This project aligns with Thailand’s commitment to sustainable development and reducing carbon emissions,” it added.
The JVA signing took place at Prince of Songkla University in Hat Yai, Thailand on Feb 2, in conjunction with the hosting of the Southern Innovation and Technology Expo 2024 (SITE 2024).
Senator Dr Wareerat Sirithansakul from the House of Representatives of Thailand acted as the witness signatory for the JVA signing between EB Tech’s chief executive officer (CEO) Moses Lenjau Vinsien and MSQ Engineering and Solutions’s CEO Rehanfairuz Mohd Jamil.
Also present to witness the signing event was EB Tech director Ashweein Narayanan.
Wareerat, meanwhile, expressed her enthusiasm for the joint venture, emphasising its potential to contribute significantly to Thailand’s environmental goals.
“This partnership between EB Tech and MSQ Engineering and Solutions is a commendable step towards harnessing technology for sustainable development,” she said.
“We believe this collaboration will not only advance Carbon Credit management practices but also foster knowledge exchange and research advancements through the partnership with Prince of Songkla University,” she added.
The signing ceremony was graced with the presence of the Prince of Songkla University (PSU) vice-chancellor, Prof Dr Naksitte Coovatthanachai – further solidifying the collaboration’s commitment to continuous research and knowledge sharing.
The tripartite agreement underscored the shared vision of advancing sustainable practices, fostering innovation, and supporting academia in contributing to environmental solutions, said the statement.
EB Tech’s CEO Moses Lenjau also shared the company’s anticipation to partner with MSQ and PSU on the ground-breaking project.
“This collaboration leverages our combined strengths to unlock the full potential of carbon credit management in Thailand and contribute to the country’s climate action goals, while at the same time create opportunities for Sarawak’s green economy,” he said.
EB Tech’s capabilities in Vision AI ems and in developing carbon credit management systems have positioned the company as a leader in the field.
With a proven track record of implementing cutting-edge solutions in Vision AI and in CCMT systems, EB Tech is well-prepared to contribute to the success of the joint venture, he stressed.
“Thailand has implemented several policies and initiatives to promote greenhouse gas (GHG) emission reduction projects, generating tradable carbon credits, in alignment with its goal of achieving carbon neutrality by 2050.
“There are bound to be challenges towards achieving these goals, and therefore, this joint venture aims to address these challenges by combining EB Tech’s expertise in carbon credit management with MSQ’s extensive experience in the Thai engineering and construction sectors,” he said.
This joint venture, said Moses, would not only contribute to the sustainable development goals of both Thailand and Malaysia, but also open new avenues for economic growth and employment opportunities in Sarawak.
EB Tech was one of the state-winners of the local startups that had competed for the Shell LiveWIRE Malaysia 2023, earning itself grants from Shell Malaysia, Tabung Ekonomi Gagasan Sarawak (Tegas) and Sarawak Digital Economy Corporation (SDEC).
It also received a startup fund from Nexea Angels – a venture capital and an angel investor network in Southeast Asia, through its Malaysian Business Angel Network (MBAN) Sarawak Chapter.