REDEX and Three Pillars Consulting (TPC) have signed a Memorandum of Understanding (MoU) to support mutual business expansion in their respective markets and develop pilot-level integrations between their respective decarbonization software solutions.
Under the agreement, TPC will support REDEX’s entry into Oman and the greater Gulf Cooperation Council (GCC) markets. TPC will also support the deployment of REHash, REDEX’s innovative digital marketplace and platform for the purchase and sale of energy attribute certificates such as I-REC (E) Certificates for electricity. The introduction of such a platform aims to strengthen and simplify the process of buyers and sellers to list, search, find, and establish off-take agreements for I-REC (E) Certificates
REDEX will similarly support TPC’s current growth strategy aimed at growing and strengthening its advisory services and ClimateTab (A Three Pillars Consulting Product) carbon accounting and decarbonization software in Singapore and Southeast Asian markets.
Both parties have initiated a joint project together to introduce key software developments which will allow users of ClimateTab to seamlessly integrate I-REC (E) Certificates (from REHash) into their Market-Based Scope 2 Reporting (within ClimateTab). Such integration will enhance a company’s redemption of I-REC (E) Certificates through the ability to match the temporal and geographical specifications of the electricity and the corresponding certificates.
REDEX Founder and CEO Jen Wee KANG said, “Entities in the Sultanate of Oman have already made the first steps towards implementing an I-REC (E) Certification system. We look forward to using our platform to strengthen the entire ecosystem, enhance transparency, and facilitate the adoption of renewable energy by companies in Oman and other GCC markets.”
Michael Tsang, CEO of TPC, elaborated by stating “many of our clients that use our software are heavy electricity users that are implementing a range of emissions reductions strategies, and being able to find robust, reliable, and relevant I-REC (E) Certificates is a key enabler for their GHG management and reporting.”
