Dubai, December 2nd, 2024 — EMURGO Labs, a full stack agency with deep blockchain expertise fueling Web3 across the globe, announced today a strategic partnership with Tharawat Green Exchange (TGE), a pioneer in carbon offsetting in Saudi Arabia. This collaboration marks a significant step toward achieving environmental sustainability by enhancing TGE’s carbon credit market operations in Saudi Arabia and beyond through blockchain technology.
With the goal of creating a transparent and impactful carbon credit market, EMURGO Labs will deploy smart contract development services on EVM-compatible blockchains. This multi-chain approach is designed to optimize transparency, security, and interoperability in carbon credit transactions, supporting TGE's mission of making the process of environmental contribution accessible to everyone through its user-friendly platform.
"EMURGO Labs is excited to collaborate with TGE, aligning our blockchain expertise with TGE’s environmental mission to set new standards for transparency and reliability in the carbon credit market," said Ahmed Amer, CEO of EMURGO Labs. "Our integration of EVM-compatible blockchains will enhance TGE's ability to scale its environmental impact while maintaining the integrity of its offsetting processes."
As Saudi Arabia accelerates its climate efforts in alignment with Vision 2030, there is a growing demand for verified carbon credits and transparency in offsetting processes. The decentralized nature of blockchain allows TGE to offer a secure platform for carbon credit trading, where data is immutable and accessible to stakeholders, including governments and corporations.
“At TGE, we are committed to transforming environmental sustainability through innovative solutions, and blockchain technology is a key enabler in this mission. Our partnership with EMURGO Labs represents a milestone in creating a transparent and efficient carbon credit market, aligning seamlessly with Saudi Arabia’s Vision 2030. By leveraging blockchain’s technology, we are ensuring that every transaction contributes meaningfully to global sustainability efforts,” said Yakeen Alzaki, CEO at TGE.
This partnership follows on Adaverse’s recent $450,000 investment in TGE, a leading Web3 and blockchain fund in Saudi Arabia, to empower TGE in its mission to revolutionize carbon offsetting initiatives in the kingdom, driving a shift towards sustainability through innovative blockchain technology.
About EMURGO Labs
EMURGO Labs is a full stack agency with deep blockchain expertise fueling Web3 across the globe. Through cutting-edge scaffolds and products, EMURGO Labs promotes seamless blockchain adoption across both the Cardano ecosystem and EVM compatible chains. They create secure, scalable, custom applications that enable companies to transition smoothly to a digital future. Their comprehensive services, including real-world asset tokenization, Web3 development, and venture capital investments, ensure cost savings, time efficiency, and reduced error rates for blockchain innovation and growth.
Website: www.emurgolabs.io Follow EMURGO Labs on X, LinkedIn, Facebook, and YouTube.
For more information, please contact:
Omar Badr, EMURGO Labs' Marketing Director
omar@emurgo.africa
About TGE
Tharawat Green Exchange (TGE) is a carbon platform. TGE is a carbon issuer, issuing carbon certificates and selling to carbon buyers, like Regional Voluntary Carbon Market Company (RVCMC) under PIF and carbon offsetters. Founded in 2023 by Yakeen Al Zaki, Hassan Al Redha and Yasser Alobaidan, TGE leverages Web3 technology to support environmental sustainability initiatives in line with Saudi Vision 2030.
Website: www.tge.sa
About Adaverse
Adaverse is the first Web3 and blockchain fund in Saudi Arabia, launched as part of the Cardano Investment Vehicle. With a mission to nurture early-stage startups in the MENA region, Adaverse has supported over 60 startups, driving the integration of blockchain technology into regional economic activities.
Website: www.adaverse.co
