Dubai, UAE, 26 October 2022: Blue Carbon, a Dubai based company incepted under the vision of Sheikh Ahmed Dalmook Al Maktoum to support carbon removal projects across the world, has signed today a Memorandum of Understanding (MoU) with Oracle Energy Limited, a joint venture company of Oracle Power PLC, an international power and natural resource project developer listed on London’s AIM market.
The MoU aims to enable Oracle Energy to cut down its carbon emissions and explore opportunities to advance its net-zero goals as Blue Carbon extend continuous support in its decarbonization transition journey.
Signed between Josiane Sadaka, CEO of Blue Carbon LLC and Naheed Memon, CEO of Oracle Power Plc in Blue Carbon’s headquarters in Dubai, the joint agreement enables Blue Carbon to design a framework that will serve as a roadmap for Oracle to achieve energy efficiency.
“We are pleased to collaborate with Oracle Energy to support and accelerate the decarbonization journey of their green hydrogen project in Pakistan. Deep collaboration with customers is at the core of our operations and we are confident that this partnership will stimulate our efforts to establish robust strategies and best practices that will not only positively impact Oracle Energy’s operations but also serve as a benchmark for others in the region to follow,” said Josiane Sadaka.
CEO of Oracle, Naheed Memon, commented: “This MoU further builds on our developments in the hydrogen industry and further complements our JV partnership supported by Sheikh Ahmed Dalmook Al Maktoum, the chairman of Blue Carbon. With its expertise in climate change economics, Blue Carbon aims to be at the forefront of sustainable climate change investment, and we look forward to collaborating with them on a decarbonization roadmap to complement Oracle Energy’s green hydrogen project in Pakistan.”
Blue Carbon offers solutions to boost efforts needed to reduce energy-related carbon emissions to net-zero level by 2050 in compliance with the Paris Accords. Moreover, the company serves as an enabler of blue and green economy operational frameworks that sets the agenda for the implementation of international climate agreements.
While Blue Carbon’s framework will focus on Monitoring, Reporting and Verification (MRV) to calculate and benchmark carbon emission data, it will also outline suitable methodologies for registration and identify appropriate opportunities in the space of Carbon Capture and utilization. Moreover, both companies will identify suitable opportunities in low carbon environmental assets related to hydrogen.
Under the MoU, Blue Carbon will advise Oracle Energy on the aggregation of data related to Carbon Emission Reporting. Its team will be conducting workshops to share knowledge, relevance and compliance and consolidate a high-level sustainability vision for future implementation.
Oracle Power Plc is focused on delivering reliable power in high growth markets and unlocking the value of highly accretive natural resource assets in prospective regions. Its initial project is the Block VI Project in the Thar desert in the south-east of the Sindh province of Pakistan. The company is also developing two gold mining projects in Western Australia; the Jundee East Project and the Northern Zone Project.