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UAE gets a decarbonization tech acceleration platform: The founders of the UK’s renewables-based EV charging company Gridserve launched Gigatons, a UAE-based global platform dedicated to accelerating the transition to net zero, according to a press release. The platform addresses what the founders view as the three main obstacles to achieving net zero: mobilizing capital, scaling infrastructure, and transparency and trust.
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What we know: The company was launched at Abu Dhabi Finance Week and is headquartered in the ADGM, according to the press release. It collaborates with regional entities, including the UAE’s Energy and Infrastructure Ministry, Abu Dhabi Investment Office, Abu Dhabi Mobility, and major organisations such as ABB.
The platform consists of three business divisions, each designed to address one of the key barriers to reducing carbon emissions:
- #1- Gigacapital: This will be the company’s fintech platform. Its goal is to mobilize USD 100 bn in investments over the next decade to drive global carbon reductions. It will also offer digitized finance solutions, including stablecoins that connect traditional finance with decentralized and regenerative finance to verify carbon impact.
- #2- Gigaserve will focus on a portfolio of products and services for net-zero EV charging and critical power infrastructure, focusing on cost-effective, scalable, and rapidly deployable infrastructure.
- #3- Gigatech‘s platform will use advanced blockchain technology to ensure transparent and traceable carbon reductions from green infrastructure projects and combat greenwashing, as well as use AI to optimize project efficiency and scalability
Some projects are already underway: Gigaserve is collaborating with Australian renewables company Flow Power on its first global project, a net-zero, sun-to-wheel EV charging network across Australia. Multiple sites are already secured, with construction set to begin in 2025.
Gridserve is no stranger to the UAE: British sustainable energy company Gridserve partnered with the Abu Dhabi Investment Office last year to join the Smart and Autonomous Vehicles Industry (SAVI) cluster.
