Greenway Grid Global Concluded a Simple Agreement for Future Equity (SAFE) Agreement with Carbontribe Labs OÜ

Greenway Grid Global Pte. Ltd. (Headquarters: Singapore, President: Kazuhiko Shiba, hereinafter referred to as “GGG”) is pleased to announce that we have concluded a Simple Agreement for Future Equity (SAFE) agreement with Carbontribe Labs OÜ (Headquarters: Tallinn, Estonia, CEO: Kay Yano, hereinafter referred to as “Carbontribe”).

 Carbontribe is a startup that develops machine learning foundation that analyses satellite images of forests/mangroves using proprietary computer vision*1 to calculate and forecast base emissions of CO2 absorption, and ReFi*2 platform.

In order to achieve the carbon neutrality by 2050 in the Paris Agreement, carbon credit has attracted attention as a promising offset method for carbon emissions. While forest carbon credits are proven method to generate such credits, the generation cost becomes high due to conventional forest analysis using drones and sensors, and regular measurements by human. Additionally, the necessity to monitor vast and complex terrains has been a challenge to widespread adoption.

Carbontribe has focused on the challenges in the “generation process” and “monitoring” of forest carbon credits. Analyzing satellite images of forests with computer vision AI and learning the patterns of forest area increase and decrease enable us to reduce the cost of measurement by human. Moreover, by utilizing blockchain of the ReFi, the transparency of credits will be ensured. Carbontribe aims to democratize the “carbon credit economy,” including potential expansion to B2C markets.

GGG is working on PoC for developing AI model, creating NFTs with Carbontribe, and will consider carbon credit related businesses. By leveraging our connection in the Asia region, we will accelerate the circular economy of energy business and contribute to the global climate challenge through this business

By co-creating carbon credit generation-related businesses with Carbontribe and supporting the company’s growth, GGG will acquire know-how in the area of carbon credits and feed it back to Japan, thereby contributing to the development of Japan and achieving our vision, “To Bring Happiness To The World”.

From left:
Mr. Toshihiro Tsurui (Manager; GGG)
Mr. Kay Yano (Co-founder CEO; Carbontribe)
Mr. Tsuyoshi Numajiri (Director; GGG)

<Greenway Grid Global Pte. Ltd.>
GGG is a joint venture established in Singapore by TEPCO Power Grid, Inc., Chubu Electric Power Co., Inc., and ICMG Partners Pte Ltd. GGG aims to be a company that ‘Brings Happiness to the World’ through investment in next-generation infrastructure and technologies, development of NEW business ventures, and nurturing of transformative leaders.
*1 Computer Vision: a field of artificial intelligence (AI) that enables computers and systems to derive meaningful information from visual data, such as digital images, and to cope and make recommendations based on that information.
*2 ReFi: Abbreviation of Regenerative Finance. A system in which financial transactions on the Web3 are linked to the regeneration of the global environment, etc., through the use of the blockchain mechanism.

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Greenway Grid Global Pte. Ltd.

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