Launching the first of its kind tokenised fund raising and carbon credit trading platform, to enhance Kazakhstan's Role in the Global Digital Economy through Eco-Friendly Digital Mining Operations
SINGAPORE, Oct. 4, 2024 /PRNewswire/ -- AQGroup, Kazakhstan's leading green electricity producer and a leader in infrastructure development for computing services - including data centers for artificial intelligence, digital mining, and international IT companies, together with MVGX Group, a pioneering Singapore-based digital green fintech group led by MVGX Holdings Pte. Ltd. are proud to announce a first-of-its-kind strategic partnership. This partnership seeks to leverage on the knowledge, expertise and know-hows of three key members of the MVGX Group in relation to their respective industries - Metaverse Green Exchange Pte. Ltd., MetaComp Pte. Ltd. and MVGX Tech Pte. Ltd.
Strategic partnership signing ceremony between AQGroup and MVGX Group. Left to Right: Michael Sheren, CEO, Asia Green Fund Management; Dr Bo Bai, Chairman & Co-Founder, MVGX Group; His Excellency Kuttykadam Askar, Kazakh Ambassador to Singapore; Islambek Salzhanov, Chairman & Co-Founder, AQ Group; Tin Pei Ling, Co-President, MetaComp.
The two groups have formally signed a Memorandum of Understanding (MoU) during the prestigious global conference, "Token 2049 Singapore", marking the beginning of an ambitious collaboration. This MoU outlines plans to construct an innovative hybrid green power plant that combines wind, solar, and battery energy storage systems, ensuring a sustainable supply of green electricity to AQGroup's Data Centres. Additionally, it lays the groundwork for the establishment of a joint carbon credit trading exchange in Kazakhstan, driving forward a shared vision for sustainable energy solutions and carbon market development in the region.
Kazakhstan, the world's 9th largest country by territory, holds enormous potential for green energy production through wind and solar power plants (WPPs and SPPs) equipped with energy storage systems. The country's proximity to China offers unique advantages, including access to high-quality equipments for WPPs and SPPs, alongside significant savings on logistics.
Additionally, the Kazakhstani government with its favorable government regulations—such as a 10-year tax exemption for renewable energy projects—offers a highly supportive environment for green energy development. Their advantageous geographical location between Europe and Asia, positions the country as an emerging regional hub for Data Centres, providing computing services to global markets.
MVGX Group, leveraging its strategic position as a Singapore-based group of companies, is well-positioned to build a financial bridge that empowers the generation and sale of green electricity from Kazakhstan's green mining initiatives. This partnership offers seamless access to Singapore's advanced financial services and dynamic capital markets. As the financial hub of South-East Asia, Singapore with its forward-thinking regulatory frameworks has attracted many advanced financial and fintech solutions to set up their headquarters here. MVGX Group seeks to leverage Singapore's strength as a pivotal force in driving Web 3.0 innovation across the region.
By combining the competitive advantages of both countries, this partnership establishes a strong foundation for sustainable energy initiatives and financial infrastructure. It also creates a strong bridge of friendship and forges long-lasting, mutually beneficial cooperation between the business communities of Kazakhstan and Singapore for many years to come.
In his speech, the Chairman and the Co-Founder of AQGroup Islambek Salzhanov said, "We are very pleased to begin mutually beneficial cooperation with MVGX Group in this transformational project. Together, we will leverage our resources to promote sustainable initiatives, from green energy generation to developing a robust financial infrastructure for Web 3.0. This partnership affirms our shared vision of creating a cleaner and greener future."
Dr. Bo Bai, the Executive Chairman and the Co-Founder of MVGX Group, added, "By combining our efforts with AQGroup's extensive experience in green energy and operation of the Data centers, including digital mining, we aim to create a powerful platform that not only supports environmentally sustainable practices but also establishes a global hub for sustainable green digital mining and carbon credit trading."
MVGX Group and AQGroup plan to leverage respective resources to establish a dedicated investment fund to be distributed by Metaverse Green Exchange Pte. Ltd., a capital market service license holder under the MVGX Group, to special classes of investors. The investment fund seeks to attract substantial financing for this groundbreaking joint project. This fund will not only support the construction and operation of green energy infrastructure but also, drive innovative financial solutions, such as the tokenization of real-world assets (RWA) with the technological support of MetaComp Pte. Ltd. By leveraging blockchain technology, the tokenization process will enable these special classes of investors to participate in the green energy sector in new and efficient ways, fostering transparency, liquidity, and accessibility in sustainable investments. This forward-thinking approach highlights the partners' commitment to integrating digital finance with renewable energy development, setting a new standard for future projects in the sector.
In addition to seeking investment, both AQGroup and MVGX Group are open to collaboration with a wide array of partners. They are inviting investors interested in green energy, as well as equipment manufacturers specializing in WPPs and SPPs, energy storage system suppliers, and experienced EPC contractors. These collaborations are vital to creating an integrated value chain for sustainable energy production and computing services, further solidifying the partnership's role as a leader in advancing global sustainability and technological innovation. Together, AQGroup and MVGX Group aim to forge long-lasting industry relationships that drive their shared vision for a greener, more innovative future.
For additional information, please contact:
AQGroup:
Abylaikhan Teleubay
Amir Sharipbek
Managing Director
Head of Business Development
MVGX Group:
For media enquiries and interview opportunities, please reach out to Ampersand Advisory:
Amelia Lim
Isaac Gumbang
Head of PR
Snr. Executive
About AQGroup
Founded in 1993, AQGroup brings over 30 years of industry expertise, evolving from its origins in oil and gas to becoming a leader in renewable energy and digital infrastructure. For 25 years, AQGroup was at the forefront of oil and gas extraction, refining, and petroleum product exports, supported by a fleet of 3,700 rail tankers. In recent years, the company has undergone a strategic transformation, shifting its focus to renewable energy production and the development of advanced infrastructure for computing services, including data centers and digital mining capabilities.
About MVGX HoldingsPte Ltd ("MVGX Group")
Founded in 2022, MVGX Holdings Pte. Ltd. (MVGXH) is the parent company of a pioneering digital green fintech group of companies, including financial institutions licensed by the Monetary Authority of Singapore (MAS), that operates across traditional and digital assets while delivering proprietary carbon management solution. The companies under MVGXH (collectively known as the MVGX Group), include several key entities at the forefront of financial innovation and sustainability namely, Asia Green Fund Management Pte. Ltd., a Capital Market Service (CMS) license holder, offers fund management services with a dedicated foreign impact investment arm that holds an impressive investment portfolio of over $2.8 billion that focuses on green technologies and infrastructures; Metaverse Green Exchange Pte. Ltd., a CMS license holder and a Recognized Market Operator that facilitates dealing in securities, collective investment schemes and both over the counter and exchange traded derivative contracts; MetaComp Pte. Ltd., a Major Payment Institution licensed to provide Digital Payment Token Services and Cross Border Money Transfers; and MVGX Tech Pte Ltd, a Singapore-based Carbon Software-as-a-Service (SaaS) provider that supports corporations, governments, and institutions in every stage of their decarbonisation journeys through its proprietary Carbon Connect Suite software and products.
The MVGX Group's unique positioning embodies its vision for a Better Future through Digital Green Transformation. By seamlessly integrating advanced financial technologies with sustainability solutions, MVGX Group is committed to drive a transformative shift towards a greener, more sustainable tomorrow.