The agreement will entail the launch of distributed energy infrastructure that will utilize HODLER Investments’ digital energy platform, PermianChain, to monetize wasted energy such as flared gas to reduce CO2 emissions and to power AI and blockchain datacenter infrastructure. As per the Memorandum of Understanding, both Hodler Investments and Golden Concord Group will co-invest in feasible and suitable energy projects applying energy optimization and sustainable energy efficient technologies. Golden Concord Group will supply critical energy infrastructure that will monetize under-utilized energy in Ethiopia, with the aim of hosting global data center operators, while reducing carbon emissions. Holding several listed companies including GCL Technology, GCL Energy Investment, GCL System Integration and GCL New Energy, GCL’s footprints have been across 31 provinces and regions in mainland China, Hong Kong SAR, as well as Africa, North America, Southeast Asia and Europe. Hodler recently announced the launch of $500 million Digital Energy Infrastructure Fund (DEI) as a closed ended exempt Fund subject to compliance and regulatory approvals.

Source: Ethiopian News November 07, 2024 05:41 UTC