Must See Revenue News from Canadian Tech Gem and Partnership with Multi-Billion Dollar Company
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ShiftCarbon Inc. (CSE: SHFT)
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ShiftCarbon Announces $5M Revenue Award in Initial Phase of its First Project in Partnership with solutions by stc
February 23, 2023: Vancouver, BC – ShiftCarbon (formerly Tracesafe) (CSE: SHFT | OTCPINK: SHIFF) (the “Company”), a global leader in the Internet of Things (IoT) platforms and an innovator in end-to-end decarbonization solutions, is pleased to announce its first revenue-generating engagement with solutions by stc. The first phase of revenue from this project is estimated to be US$5 million with the potential for additional revenue in the form of a long-term supply of goods as the smart city becomes operational.
In August 2022, the company announced its partnership with Saudi Arabian’s publicly-listed technology giant to build and offer innovative technology solutions to customers across the Kingdom of Saudi Arabia. The two companies have now started working together to deliver a full suite of Smart City infrastructure to one of the most ambitious luxury regenerative tourism destinations in the world that aims to set new standards in sustainable development.
“It is an honor to finally kick off this historic engagement with our partners at solutions by stc. We are grateful to have been selected to participate in such a massive undertaking that aims to set new standards in sustainable development and further strengthen the position of the Kingdom of Saudi Arabia on the global tourism map. We are thrilled to have our vision for smart cities embraced by the most valuable telecom brand in the Middle East,” said Wayne Lloyd, CEO of ShiftCarbon.
Creating sustainable tourism destinations is closely aligned with Saudi Vision 2030, a goal to develop the economy with a commitment to invest US$150B into local real-estate projects. Through this project, the Kingdom aims to protect and enhance the natural environment and create a net positive increase in conservation value by 2040. The Green Finance accredited facility is set to run solely on renewable energy and has the highest Leadership in Energy and Environmental Design (LEED) rating for sustainable urban planning.
Studies indicate that the Smart Cities market in Saudi Arabia is expected to reach US$14 billion by 2027, exhibiting a growth rate of 19.6% from 2020 to 2027. The implementation of smart cities in the region aims to tackle urbanization challenges and promote sustainable economic growth and improved quality of life through the integration of Information and Communication Technologies in various aspects such as economy, environment, mobility, health, living, and governance.
About ShiftCarbon
Shiftcarbon provides an innovative platform for carbon accounting, offsets, and MRV (Measurement, Reporting, and Verification) automation. Businesses can use Shiftcarbon Measure to view a complete picture of their carbon emissions, without the need to hire external consultants or use manual calculations. Shiftcarbon Offset provides enterprises with powerful APIs that allow customers to embed carbon offsets into their business. Find more details on www.shiftcarbon.io.
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