- MVGX Tech will focus on offering Carbon Software-as-a-Service (SaaS) products and services designed to accelerate public and private sector clients' decarbonisation journeys
- Existing Carbon SaaS offerings have been consolidated into the 'Carbon Connect Suite'
- New business unit will be led by fintech, ISO standard certification, and sustainability veteran Frank Zhang, former managing director for Greater China at the British Standards Institution (BSI)
SINGAPORE, Aug. 16, 2023 /PRNewswire/ -- MVGX Holdings ("MVGX"), a Singapore-based green fintech group providing regulated financial services and end-to-end carbon Software-as-a-Service solutions for a more inclusive and sustainable future, announced the establishment of a new subsidiary, MVGX Tech, dedicated to Carbon SaaS products and services. Frank Zhang, a fintech, ISO standard certification, and sustainability veteran is assuming the leadership role of president of MVGX Tech.
MVGX Tech's selection of Carbon SaaS offerings, focusing on carbon measurement, reporting, and verification ("MRV"), decarbonisation rating, carbon credit development and issuance, carbon credit listing and registry, and carbon credit trading infrastructure, have been consolidated into the 'Carbon Connect Suite'. The system will provide a holistic, end-to-end suite of products, software, and services, that enable corporations, governments, and institutions to meet their sustainability commitments.
Commenting on the formation of the subsidiary, Frank Zhang, the newly-appointed President of MVGX Tech, said: "The increasing severity of the climate crisis has shown organisations of all sizes across the globe that we need to take immediate action in the fight against climate change. Making decarbonisation commitments is one thing, but having the right tools, data, and expertise to verifiably back them up is another. It is MVGX Tech's goal to enable companies to effectively measure, manage, and report their carbon footprint and to achieve their carbon reduction targets while meeting evolving regulatory requirements and shareholder demands for greater climate responsibility."
MVGX Tech's Carbon Connect Suite covers all three scopes of emissions, enabling companies to manage their carbon balance sheet while giving them a more transparent and thorough understanding of their sustainability journeys. Critically, it enables companies to comply with emerging regulatory requirements such as mandatory disclosures as part of the European Union's Carbon Border Adjustment Mechanism (CBAM). The Carbon Connect Suite can also help companies to develop carbon credit projects and provide carbon credit issuance and listings services while also providing carbon credit registry and trading capabilities. Developed in partnership with globally-recognised ISO certification bodies, such as BSI and TV-SD, the Carbon Connect Suite ensures the utmost efficiency, rigour, and credibility in carbon calculation consistent with international standard requirements.
Additionally, the Carbon Connect Suite is distinguished by its technology which provides verifiable, high-integrity data as its foundation. This is enabled by MVGX Tech's proprietary Non-Fungible Digital Twin (NFDT) which provides an auditable, transparent trail of all transactions and associated data pertaining to carbon footprint and carbon credits.
Dr. Bo Bai, Executive Chairman and Co-Founder of MVGX, said: "For the past few years, we've built up our technology capabilities, expertise, and infrastructure across the entire decarbonisation value chain. The formation of MVGX Tech is a culmination of that work as we continue to formalise and strengthen our offerings in the Carbon SaaS space. With his expertise in bringing technology solutions to market, I'm thrilled to have Frank leading the team during this exciting period of growth, especially as the demand for sustainability reporting solutions intensifies in the market."
Frank holds over 20 years of experience in business strategy, technology management, and advisory services across the United States and the Asia Pacific markets. Most recently, he served as the Managing Director of Greater China at BSI. Frank was responsible for the overall organisation and its business growth, partnerships, and government relations in the Greater China market. He has held various leadership positions in companies in information technology, banking, insurance, management consulting, and marketing industries across the US and China. These companies include BSI, IBM, Citibank, Bank of China, Capgemini, Ernst & Young, and Dentsu International.
About MVGX Holdings ("MVGX")
Founded in 2018 and headquartered in Singapore, MVGX Holdings ("MVGX") is a leading green fintech group providing regulated financial services and end-to-end carbon Software-as-a-Service solutions for a more inclusive and sustainable future. Compliant by design, MVGX's subsidiaries hold licenses from the Monetary Authority of Singapore including the Recognised Market Operator license, Capital Market Services license, and Major Payment Institution license.
Enabled by its proprietary Carbon SaaS software and products, its digital green exchange for voluntary carbon credits and asset-backed securities and tokens, and an impact investment arm for green technologies and infrastructure, MVGX strives to be a key partner for its clients' decarbonisation journeys through the stages of define, measure, mitigate, offset, certify, and finance.
About MVGX Tech Pte. Ltd.
MVGX Tech is a Singapore-based Carbon Software-as-a-Service (SaaS) company that aims to empower corporations, governments, and institutions to take action at every stage of their decarbonisation journeys. Consolidated under the Carbon Connect Suite, MVGX Tech's products, services, and software focus on carbon measurement, reporting, and verification ("MRV") as well as decarbonisation rating, carbon credit development and issuance, carbon credit listing and registry, and carbon credit trading. Carbon Connect Suite is powered by MVGX Tech's proprietary blockchain-enabled technologies including its Non-Fungible Digital Twin (NFDT) and Digital Carbon Credit (CNT).
Media Contact (MVGX)