{"id":86288,"date":"2024-08-26T00:00:00","date_gmt":"2024-08-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/08\/26\/azurx-space-ventures-invests-in-the-uks-space-intelligence-to-advance-forest-mapping\/"},"modified":"2024-08-26T00:00:00","modified_gmt":"2024-08-26T00:00:00","slug":"azurx-space-ventures-invests-in-the-uks-space-intelligence-to-advance-forest-mapping","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/08\/26\/azurx-space-ventures-invests-in-the-uks-space-intelligence-to-advance-forest-mapping\/","title":{"rendered":"AzurX Space Ventures invests in the UK\u2019s Space Intelligence to advance forest mapping"},"content":{"rendered":"

STARTUP WATCH- <\/p>\n

<\/strong>Dubai\u2019s AzurX Space Ventures invests in the UK\u2019s Space Intelligence:<\/strong> UK-based sustainability data analytics startup Space<\/a>Intelligence<\/a> has raised approximately AED 25.7 mn (USD 7 mn) in Series A funding led by Dubai\u2019s AzurX Space Ventures<\/a> and US-based tech firm Intercontinental Exchange<\/a> to map the world\u2019s forests to support the development of forest carbon projects, Space Intelligence CEO Murray Collins told The National<\/a> on Saturday. The funds will also help the company expand its operations into the Middle East and Northern Africa, Collins added.<\/p>\n

In numbers: <\/strong>Space Intelligence already possesses nature data spanning 640 mn hectares across seven countries, providing crucial information on land cover, deforestation, and regrowth, according to a <\/span>press release (pdf)<\/a>. It plans to have its dataset covering over 35 additional countries by the end of 2Q 2025. It also plans to release new data products during 4Q 2024 for near real-time monitoring and deforestation.<\/span><\/p>\n

Why this matters:<\/strong> The significance of mapping forests lies in their role as vital carbon sinks, absorbing about 7.6 bn metric tons tons of carbon dioxide annually, according to the World Resources Institute<\/a>. Deforestation remains a major contributor<\/a> to greenhouse gas emissions, accounting for nearly 11% of global emissions.<\/p>\n

ELECTRIC VEHICLES- <\/p>\n

Kawar <\/strong>Energy + Huawei partner on EVs in Jordan:<\/strong> Amman-based renewables and engineering company Kawar Energy has partnered with Huawei to install the Chinese tech giant\u2019s advanced superchargers at Manaseer\u2019s gas stations across the country, according to a press<\/a>release<\/a>. The two-year partnership includes exploring future collaborations to expand the network apart from gas stations. <\/p>\n

REMEMBER- Jordan has the biggest EV share in the region: <\/strong>Jordan saw the highest share<\/a> of electric vehicle sales in the Middle East in 2023 at over 45%, supported by lower import duties than those imposed on cars with fuel engines. It recently saw<\/a> the inauguration of its first fully electric vehicle charging station in south Irbid.<\/p>\n

SOLAR-<\/p>\n

KSRelief to drill 21 solar-powered wells in Nigeria: <\/strong>The King Salman Humanitarian Aid and Relief Center (KSrelief) has inked a cooperation agreement with an unnamed NGO to drill 21 medium-depth solar-powered wells across six regions in Nigeria, SPA<\/a> reported last week. The wells will be drilled in Nigerian cities of Abuja, Enugu, Kano, Osun, Oyo, and Kaduna. The project aims to provide clean water for the cities\u2019 populations and livestock, reduce deaths from polluted water, and alleviate water shortages in these areas. The solar-powered wells are expected to directly benefit 105k people.<\/p>\n

Not the first time KSrelief has helped out Nigeria: <\/strong>Saudi Arabia\u2019s main humanitarian agency launched in May<\/a> a project in Kwara State to drill six solar-powered water wells to meet the area\u2019s potable water needs. <\/p>\n

RENEWABLES-<\/p>\n

Red <\/strong>Sea Global highlights sustainability efforts in 2023: <\/strong>PIF-owned Red Sea Global (RSG) has installed around 740k solar panels to fully power the first phase of its flagship Red Sea Project destination, according to the company\u2019s annual sustainability report<\/a> last week. It also installed 150 EV charging stations, offset some 46k tons of CO2 emissions through low carbon initiatives, and planted around 600k mangrove trees.<\/p>\n

Expect one big announcement from RSG this year: <\/strong>Saudi Arabia\u2019s renewables giant Acwa Power is set to commence commercial operations<\/a> for the Red Sea Global multi-utility project later<\/a> this year. he USD 1.5 bn Red Sea Global project will have a 340 MW solar plant with 1.2 GWh of battery storage, a 32.5k cbm per day desalinated station, a 18.3k cbm per day wastewater treatment plant, a 11.8k tons per year municipal solid waste processing plant, and district cooling with a capacity of 32.5k refrigerator tons (RT)<\/p>\n","protected":false},"excerpt":{"rendered":"

Stories on our radar this morning from around the 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