Dubai, United Arab Emirates, Thursday, November 28, 2024: The Founders of Dubai based HalaZone Technologies Limited and Abu Dhabi based SolarSpace FDI Ltd. met today to sign a Memorandum of Understanding.
HalaZone will be providing a suite of technical and financial services to SolarSpace and its projects that will include (a) automated and digitized carbon credit calculation and verification; (b) digital credit registry; (c) digital credit exchange; and (d) carbon credit sales settlement via commercial banks and digital asset exchanges. HalaZone will also work on securing SolarSpace project SPV’s equity and long-term debt finance, and it will use the project’s carbon credits and other green instruments to provide additional security for lenders, and to lower the project finance cost.
About the SolarSpace Project
Many nations around the world, especially island nations, suffer from potable and freshwater insecurity. In almost all cases, water desalination and treatment are powered by fossil fuels, and many countries are looking for ways to address their freshwater needs, while lowering their overall carbon footprint and annual spending on hydrocarbons. SolarSpace is applying its groundbreaking concentrated solar energy technology at scale to desalinate brackish and sea water for the island nation of St. Kitts and Nevis. This will be the first 100% renewable energy, utility-scale desalination project of its kind. It also has the added benefit of producing zero concentrated brine to return to the ocean.
For more details, see https://mopieudt.gov.kn/mou-ccreee-solarspace/
Henk Schouten, Co-CEO and CRO of HalaZone added, “We are proud to be teaming with David Vili and SolarSpace on the beginning of applying his company’s innovative green technology around the world. HalaZone will originate and monetize carbon credits from SolarSpace’s project, and we will use those credits to enable access to low-cost green project finance, as proof as additionality, to enhance the security of project loans, and to increase financial returns to lenders and investors.”
David Vili, Founder and CEO of SolarSpace added, “This is a milestone day and Thanksgiving Day, which is fitting for the importance of our new partnership with HalaZone. We look forward to a long-term friendship, partnership and collaboration with HalaZone starting with our St. Kitts and Nevis water desalination project using our groundbreaking solar technologies.
SolarSpace and HalaZone will deliver a best-in-class project to and for the people of Saint Kitts & Nevis, and we will do it in a completely sustainable way with 100% “Made in the UAE” manufacturing and services. We are proud of and thankful for the support we receive from the governments of the United Arab Emirates, the United States of America, and Saint Kitts & Nevis. This is just the beginning for us, and we look forward to making it in the UAE and taking it to the world.”
About SolarSpace
SolarSpace is a United Arab Emirates-based Green Technology engineering, manufacturing, and services company. SolarSpace serves companies, governments, communities, and other entities that are seeking to deploy proprietary, cutting-edge solar technology to provide off-grid renewable energy; recycle, desalinate, and purify water; power and cool off-grid Data Centers and other buildings; produce green hydrogen and ammonia from seawater; extract rare earth mineral from brine; and space-based solar power.
For more information, see https://solarspace.io/
About HalaZone
HalaZone Technologies is a United Arab Emirates-based provider of Green Project Finance and carbon credit advisory, origination, and monetization services. HalaZone serves companies, governments, and entities that want to access liquidity and financing from obtaining Green Project designations from relevant authorities, and from the creation and monetization of carbon credits, carbon offsets, Renewable Energy Certificates (REC), and other green “instruments”.
For more information, see https://halazone.io/