Solar power developer CME Solar has secured financing from responsAbility while Singapore-based global cryptocurrency exchange BingX has invested in Hong Kong-headquartered AI and Web3 startup Moonbox. Separately, Touchstone Partners and Temasek Foundation have launched a global climate innovations competition.
CME Solar secures $20m from responsAbility
Vietnamese solar power developer CME Solar Investments (CME Solar) has secured $20 million in long-term senior secured financing from Swiss impact investor responsAbility, according to an announcement.
In 2021, the solar power developer bagged $12-million debt financing from responsAbility Investments AG.
“Our investment in CME Solar underscores our dedication to renewable energy. Drawing from our past experiences, we recognize the value of partnerships in advancing impact investing. We’re confident about the potential of Vietnam’s solar market, particularly with C&I consumers aiming to streamline operational costs,” said Stefan Issler, Head of Climate Finance Direct Investments.
Founded in 2019, CME Solar invests and develops distributed rooftop solar across Vietnam.
SG’s BingX invests in Web3 startup Moonbox
Singapore-based global cryptocurrency exchange BingX announced that it has invested in Hong Kong-headquartered AI and Web3 startup Moonbox through its venture capital arm Bing Ventures.
Financial details of the investment were not disclosed. BingX said the investment is expected to bolster Moonbox’s product development and advance its core technology.
Moonbox, which develops interactive protocols using AI that can give life to different digital assets such as NFTs, earlier raised $1 million from OKX Ventures, an investment arm of crypto exchange OKX.
The Hong Kong-based firm was recently granted the licence to use the intellectual property (IP) of Stephen Chow Sing-chi’s films. Chow, known as the city’s ‘King of Comedy’, is a celebrated actor-director behind many blockbusters such as All for the Winner and Fight Back to School.
BingX, on the other hand, is a crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. Its VC arm, Bing Ventures, focuses on supporting early-stage startups and entrepreneurs of Web2 and blockchain advancements.
Touchstone, Temasek Foundation launch Net Zero Challenge 2023
Homegrown VC firm Touchstone Partners and Temasek Foundation have co-launched Net Zero Challenge 2023 (N0C 2023), a global climate innovations competition that aims to address the funding gap in climate solutions and foster collaboration in Vietnam.
In partnership with the Ho Chi Minh City Institute for Development Studies (HIDS), the Net Zero Challenge 2023 aims to identify and support early-stage climate innovations with the potential to solve environmental challenges at scale.
It focuses on addressing three main climate issues – renewables & carbon removal; food systems & sustainable agriculture; and circular economy & waste management.
Participating teams stand to earn equity-free grants of VND 15 billion ($630,000) to pilot their solutions in Vietnam, receive global exposure, and gain access to investors, corporate partners, policy-makers, and climate alliances, alongside relevant support for the innovators.
The investor partners of Net Zero Challenge 2023 include regional venture capital firms such as Singapore-based Pavilion Capital and Indonesia-focused East Ventures.
