Indonesian tech company Aeroterra & Eldera Matadata Presisi has been chosen to lead a groundbreaking pilot project to assess the value of Kenya’s carbon credit assets. This initiative, spearheaded by Banyan Investment Banking & Hedge Fund and Quantum Metal Group, marks a significant step in leveraging technology for environmental sustainability.
The project aims to support the Government of Kenya by accurately measuring the country’s carbon deposits in real-time. Utilizing drone and AI-driven technology, Aeroterra & Eldera Matadata Presisi will provide precise data crucial for carbon credit verification by Verra, the US-based organization overseeing the Verified Carbon Standard (VCS) Program.
Dr. Thana Balan from Banyan Investment Banking & Hedge Fund expressed confidence in Aeroterra & Eldera Matadata’s innovative approach. He emphasized that the real-time data collected will be pivotal for Kenya’s carbon credit approval process, with the project set to commence following regulatory approvals.
A $650,000 commitment from the consortium will fund this initiative, financed through Letscoin, a newly launched digital complementary currency. This project is a part of the broader Investment Bank Humanitarian Contribution Campaigning Programme, aiming to scale the pilot across the region.
Aeroterra & Eldera Matadata’s drone technology not only measures carbon assets but also aids in soil seeding, vital for rejuvenating Kenya’s lands. This integration of advanced technology highlights the project’s dual focus on environmental and technological innovation.
Complementing this project, Banyan Investment Banking & Hedge Fund announced a $100 million funding agreement with Quantum Metal Group to bolster their African gold trading activities. Additionally, Letscoin, supported by Deutsche Bank, will empower local communities, fostering participation in the digital economy. Together, these initiatives underscore a comprehensive strategy for sustainable growth and economic empowerment.
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