Pantas and Solarvest Partner up to Advance Renewable Energy Adoption

Lionel Loh - 16 Feb 2024 (updated 8 May 2024)

SOLARVEST FORMS ALLIANCE WITH PANTAS TO SIMPLIFY RENEWABLE ENERGY ADOPTION

Kuala Lumpur, 15 February 2024 – In pursuit of advancing sustainable energy practices, Pantas Software Sdn Bhd (“Pantas”) signed a Memorandum of Understanding (“MoU”) with Solarvest Holdings Bhd (“Solarvest”) to integrate Solarvest’s innovative clean energy solutions into Pantas’ partner ecosystem and co-develop a key smart metrics system for decarbonisation recommendations.

The collaboration will be executed under the auspices of Bank Negara Malaysia’s Greening Value Chain (GVC) programme, leveraging Pantas’ AI-powered Carbon Management and ESG platform to seamlessly measure, reduce and report customers’ carbon footprint, and subsequently offer tailored decarbonisation solutions.

Solarvest serves as the decarbonisation partner that will incentivise and assist Malaysian businesses in taking their first steps in implementing sustainable changes to their operations; while Pantas serves as the digital partner, and promotes clean energy solutions complementing their actionable data insights. Together, they provide an end-to-end decarbonisation journey aimed at facilitating a simplified and expedited renewable energy adoption.

Chief Executive Officer of Pantas Software Sdn Bhd, Max Lee shared, “Our partnership with Solarvest is not just a collaboration; it's a fusion of Pantas' robust carbon management platform with Solarvest's renewable energy expertise. At Pantas, we're proud to bring our end-to-end climate technology platform to this alliance, providing a critical tool for businesses to measure, manage, and reduce their carbon footprint. Together, we're setting a new standard in environmental stewardship, offering bespoke decarbonisation strategies that empower businesses to navigate towards a sustainable, low-carbon future.”

Executive Director and Group Chief Executive Officer of Solarvest, Mr. Davis Chong Chun Shiong (张俊雄) added, “Solarvest is thrilled to enter the digital space helping businesses in achieving their ESG goals. Pantas’ revolutionary decarbonisation solutions effectively manage carbon footprint, leading to actionable decarbonisation plans. What is important next is the financing. Research found nearly half (46%) of the Malaysia’s business lack a budget for sustainability initiatives. To address this issue, it is crucial to look into the gaps in tax incentives and financing options such as Green Investment Tax Allowance (GITA), Green Income Tax Exemption (GITE), and Green Technology Financing Scheme (GTFS) to lower the entry barrier, making renewable energy more viable and attractive.”

To leverage this latest offering from the Pantas-Solarvest partnership, businesses may avail themselves of BNM’s Low Carbon Transition Facility (LCTF). Open to SMEs in all sectors, they may obtain up to RM10 million in financing at a maximum financing rate of 5% per annum, up to a tenure of 10 years. The proceeds from LCTF can be used to fund capital expenditure or working capital to initiate or facilitate the transition to low carbon and sustainable operations.

Press coverage

Business Today
New Straits Times
Sin Chew
The Sun (Print) - 16 February 2024 - Biz & Finance page 15

About Pantas Software Sdn Bhd

Pantas Software, an industry frontrunner in climate technology, specialises in providing comprehensive, tailor-made solutions for businesses seeking to effectively track, manage, and disclose ESG metrics, with a particular focus on carbon emissions. Leveraging cutting-edge, proprietary AI technology, Pantas' platform offers seamless integration with existing Enterprise Resource Planning (ERP) systems. This integration facilitates the delivery of personalised decarbonisation strategies and connects clients with specialised financing options through its network of banking partners. Catering to a wide range of sectors, Pantas proudly supports clients across various industries, including automotive, aviation, chemicals, financial services, health and wellness, hospitality, logistics, manufacturing, and property development, underscoring its commitment to driving sustainable business practices across multiple domains.

For more information on Pantas’ platform and services, please visit https://pantas.com.

About Solarvest Holdings Berhad

Solarvest is a clean energy expert with a multi-national presence across Asia-Pacific in 7 countries. The Malaysia-founded company started as a one-stop solar photovoltaic system solution provider for residential, commercial & industrial, and utility-scale solar farms. Today, Solarvest has accumulated a renewable energy portfolio of over 1,000MW (on-going and completed). The company is currently venturing into other clean energy solutions including, among others, hydrogen, battery storage, data center, energy efficiency, low-carbon mobility, and renewable energy certificates.

Solarvest is listed on the Main Market of Bursa Malaysia. For more information, log on to https://solarvest.my.