Greenway Grid Global Signed a Share Subscription Agreement with REDEX Group

Greenway Grid Global Pte. Ltd. (Headquarters: Singapore, President; Kazuhiko Shiba, hereinafter “GGG”) is pleased to announce that GGG has concluded a Share Subscription Agreement with REDEX Group Pte. Ltd. (Headquarters: Singapore, CEO: Kang Jen Wee, hereinafter referred to as “REDEX Group”).

GGG has joined the $10 million Series A funding round of REDEX Group. The round is led by Aramco Ventures, the corporate venturing subsidiary of Saudi Aramco. Other investors from Middle East, Southeast Asia and Japan also participated in the round.

Established in 2018, REDEX Group is a first-mover Renewable Energy Certificates (RECs) player in Asia that provides full-suite services for REC trading from asset registration to REC verification, trading, transfer and retirement.

REDEX Group is serving corporates and brokers worldwide, helping them offset scope 2 emissions and achieve sustainability goals in a tangible, measurable and verifiable way. It has been integrated with I-REC and is partnering with TIGR, the two globally recognized REC standards.

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By investing into REDEX Group, GGG reinforced its position in the battle against global climate change. GGG would like to collaborate with its parent companies from the electric power industry, its business partners in the Asian region, as well as the invested startups, and contribute collectively to the growth of the global REC trading.

In addition, GGG aims to challenge new fields and new business creation through this investment. By obtaining know-how from this investment, GGG intends to work with partners to nurture talents and create businesses to tackle climate change. Eventually GGG plans to bring back the business to Japan and contribute to the development of Japan.

Signing Ceremony (September 27, 2023)

From left: Xiao ZhaoTan (REDEX Group Director), Kang Jen Wee (REDEX Group CEO),  Numajiri Tsuyoshi (GGG Director), Zhu Ji An (GGG Manager)

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Greenway Grid Global (GGG)

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’ by utilizing new technologies such as the microgrid business of next-generation infrastructure and Fintech, cultivating transformational leaders and growing human resources who can handle these latest technologies acquired.

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Greenway Grid Global Pte.Ltd.　
+65-8157-0250（Manager：Ji An）
Email: contact@greenwaygrid.global