25 June 2021
KUALA LUMPUR: Leading Dubai-based investment bank GIB Global Investment Bank announces the establishment of a new investment fund to address climate change. GIB Global Investment Bank’s Green Investment Fund will invest in green technologies and green tech investments across Malaysia and Singapore. GIB Global Investment Bank’s marketing director, Michael George, in an official announcement said, “We are pleased to announce the establishment of this fund which aims to become one of the largest dedicated renewable energy infrastructure and technology investors in the region.”
“Climate change is a crisis situation that exerts an extremely large impact on a whole range of economic activities and living conditions. We want to do our part to address this crisis by backing technologies that aim to move the needle towards renewables and a sustainable future,” GIB Global Investment Bank’s Michael George added.
GIB Global Investment Bank announced some of its first investments into four green technology companies in the region, which are Unova Solar Panels, Grand Central Galar Asia (GCG Asia) Hydro, Blue Cycle Technologies, and Vermilion Water Filters. These four infrastructures vary according to the categories of the main focus. The companies deploy innovative green technology approaches to address climate change problems. The initial round of investments will be used to sustain capital flows, research and development, and human resources.
Singapore-based Blue Cycle Technologies is in the automotive industry working in alternative fuels. “We have been working on refining alternative fuels for the past 10 years with GIB Global Investment Bank. Our fuels are used for transportation and maintenance. We prioritize filtering the fuel product for our customers and clients.” said Randy Johnson, the marketing manager of Blue Cycle Technologies.
GIB Global Investment Bank’s announcement also explained further on the other companies: Malaysia’s Grand Central Galar Asia (GCG Asia) Hydro focuses on refining and improving the efficiency of hydro power, while Vermilion Water Filter is an innovative water filtration infrastructure that is used to filter the water to the ocean using 50% recycled materials. This will help to avoid any unwanted harm or damage towards any living things in the ocean.
“In GIB Global Investment Bank’s Green Investment Fund, we aim to fulfil the needs of the people in the community for the future without causing environmental damage. We prioritized investing in innovative companies working in green technology, particularly in energy generation and natural resource management. Future investments may target other sectors within the ESG space based on reviews and evaluations,” explained Michael George, the CEO of GIB Global Investment Bank.
The Green Investment Fund has other cornerstone investors that have partnered with GIB Global Investment Bank through previous funding rounds. GIB Global Investment Bank’s Green Investment Fund has featured investors such as Justify.com, Andrew. H Corporation, and Digital Bank Exchange Singapore. “In GIB Global Investment Bank, we hope that the partnerships will increase in the future as the awareness grows. We are fortunate that these investors also believe in our vision for the fund and have joined us to make it a success,” said Michael George, CEO of GIB Global Investment Bank.
Michael George mentioned that GIB Global Investment Bank has intentions to grow to become one of the largest green investment funds not just in the region, but in the world. But there is no rush for rapid expansion, he said, adding that “We will dedicate ourselves focussing on harnessing resources towards helping our initial investee companies first, before targeting others. There’s ample opportunity,” said Michael George, CEO of GIB Global Investment Bank.
GIB Global Investment Bank is an investment and digital bank based in Dubai, UAE.
Grand Central Galar Asia (GCG Asia) Hydro is a Kuala Lumpur based hydro power research and consultancy company that focuses on refining and improving the efficiency of hydro power.
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Source: GIB Global Investment Bank
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