GRIDSERVE Launches Technology And Funding Platform In Abu Dhabi To Mobilise $100BN For Climate Action

In a pivotal move to combat climate change, GRIDSERVE, a frontrunner in the UK's electric vehicle (EV) charging sector, powered by net-zero energy, has launched GIGATONS. This innovative global technology and funding platform, unveiled at Abu Dhabi Finance Week, aims to hasten the global shift to net-zero emissions.

Collaborating with the UAE Ministry of Energy and Infrastructure, The Abu Dhabi Investment Office (ADIO), Abu Dhabi Mobility, and key players like ABB, GIGATONS emerges as a response to the critical need for addressing climate change. It seeks to fulfill the goal of slashing 59 gigatons of annual carbon emissions by 2050, a crucial measure to limit global temperature increases to 1.5 degrees Celsius and combat global warming.

GIGATONS leverages state-of-the-art technologies such as blockchain, AI, and sustainable energy solutions to bridge three major gaps hindering the massive reduction of carbon emissions essential for achieving net zero.

These include scaling infrastructure to decarbonize transport and energy, generating capital for new projects aimed at tackling the climate crisis, and enhancing transparency to combat greenwashing and build trust. The platform embodies a comprehensive strategy to address these challenges head-on, setting a new standard in the fight against climate change.

Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure, emphasized the vital role of public-private partnerships in this endeavor. "The UAE is committed to driving an all-inclusive energy transition where we involve key actors in our drive to build a sustainable energy ecosystem. Forging partnerships with the private sector is key to achieving our goal. Governments provide the necessary regulatory frameworks and policy support that can guide and accelerate the adoption of clean energy solutions.

"However, it is the private sector's innovation, investment, and technological advancements that drive the development and scaling of renewable energy systems. By working together, both sectors can create synergies that not only improve environmental outcomes but also foster economic growth, job creation, and technological leadership in the global market."

He further noted, "Our partnership with GIGATONS to explore investment opportunities in energy efficiency, green mobility, and digital transformation will go a long way in enabling a resilient, sustainable energy grid and efficient mobility systems that benefit society as a whole. Through such strategic alliances, we can ensure that the future of energy and transportation is both sustainable and economically viable."

The heart of GIGATONS' initiative is headquartered in ADGM, Abu Dhabi, UAE, drawing upon the impressive achievements of GRIDSERVE in the UK. GRIDSERVE has transformed the UK's EV charging landscape, with its Electric Highway facilitating the charging of nearly 250,000 electric vehicles monthly using over 6 million kWh of 100% Net Zero energy.

Toddington Harper, co-founder and co-CEO of GIGATONS, and CEO of both GIGASERVE & GRIDSERVE GLOBAL, highlighted the global aspirations of the initiative. "GRIDSERVE demonstrated how innovation, sustainability, and customer-centric solutions could deliver significant impact," Harper stated. "With GIGATONS, we are taking this mission global, scaling net-zero solutions to deliver gigatons of carbon reductions with the speed and scale required to limit global temperature rises to within 1.5 degrees of warming."

GIGATONS announced its inaugural global projects, marking a significant step towards its mission. These include the creation of a net-zero EV charging Partner Network across Australia in collaboration with Flow Power.

The project aims to leverage the expertise and technology developed through GRIDSERVE's Electric Highway, incorporating smart connected products and services for electric vehicles. Another groundbreaking initiative is the world's first fully tokenized net-zero blockchain mining and AI project, showcasing the scalability of sustainable technologies in reducing carbon emissions.

The structure of GIGATONS comprises three business divisions, each targeting specific barriers to carbon emission reductions. GIGASERVE focuses on scaling net-zero infrastructure for EV charging and critical power, while GIGATECH employs blockchain and AI to enhance transparency and build trust in green projects.

GIGACAPITAL aims to mobilize $100 billion in investments over the next decade to fund transformative global carbon reduction projects, creating a bridge between traditional finance and decentralized finance to verify carbon impacts.

Heston Harper, co-founder co-CEO of GIGATONS, and CEO of GIGATECH, underscored the technological advancements driving the initiative. "By combining the latest advances in Web3, blockchain, and AI technology, we are able to provide pervasive levels of trust and transparency to capital, assets, and their impact. GIGATECH's smart connected platforms provide robust real-time data that unlock lucrative transition era opportunities at speed and scale. Transition Era opportunities are measured in the multi-trillions - we are enabling world-leading technology to address humanities biggest ever challenge, that will rival the Moon Shots of the past."