Multibagger Update: EKI Energy Services enters into a partnership with First Source Energy India to launch a first-of-its-kind climate venture

Multibagger Update: EKI Energy Services enters into a partnership with First Source Energy India to launch a first-of-its-kind climate venture

Stock Recommendations
by 5paisa Research Team Last Updated: 2022-10-28T11:30:58+05:30

EKI Energy Services Limited is the leading developer and supplier of carbon credits across the globe.

The company has joined hands with a leading environmental professional firm - First Source Energy India Pvt Ltd and its promoter and promoter group, to establish a first-of-its-kind joint venture that will play a pivotal role in India’s climate change industry as the country’s first-ever Climate EdTech as well as Climate Finance Marketplace.

At 10:12 am on Friday, shares of EKI Energy Services are trading at Rs 1,707 with marginal losses of 0.24%. Over the last one year the stock has furnished phenomenal returns of 122%. The scrip has surged by 18.71% over the last one month.

The joint venture will be named - ClimaCool Projects & EduTech Ltd and it will facilitate the mobilisation of funds to drive investments for strategic climate interventions like - community-based projects, sustainability and renewable energy projects amongst others across the globe.

Manish Dabkara, Chairman & MD, EKI Energy Services from a press release filed with the exchange said, “As the world continues to speedily progress towards a carbon neutral future, there is an urgent need to develop skilled talent with specialised expertise on climate change. We want to help bridge this gap while also encouraging more and more people to adopt climate change as a career of choice. In line with this, we are delighted to launch our new venture today that will help us to rope the best from the global academia industry to drive the creation of a strong climate talent pool at the global level. The venture will also help us to establish a carbon finance marketplace to mobilise funds from global markets for investments in strategic climate mitigation projects across the world”.

EKI Energy Services is a leading carbon credit developer & supplier across the globe. It is the first ever company to list a plastic project from India with Verra - a global accreditation standard located in Washington, USA. The company’s offerings span across carbon credit/asset management, carbon credit generation, carbon credit supply, carbon credit offsetting, carbon footprint management, sustainability audits, as well as carbon neutrality and climate-positive initiatives. The company is today present in more than 16 countries and has upwards of 3000 clients across 40 countries worldwide.

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