CapitaLand Funds Sustainable Innovations; BeeX Secures USD 2M, Digital Edge Gets Green Loan
CapitaLand has announced the winners of its Sustainability X Challenge 2023 and will fund innovative projects at its properties. Meanwhile, BeeX, a Singapore-based underwater autonomous vehicle developer, has secured USD 2 million in funding. Digital Edge has also obtained a green loan for its South Korean data center project, SEL2, which will be the country's largest commercialized colocation data facility.
CapitaLand has awarded a total of SGD 1.2 million (USD 889,000) to eight winning teams of its Sustainability X Challenge 2023. Each of the four main winners received SGD 150,000 (USD 111,000), while six other teams received SGD 75,000 (USD 55,000) each for their pilot projects. Four teams also received special recognition awards.
BeeX, a Singapore-based startup, has raised USD 2 million in an oversubscribed bridge round. The investors included Inclavare Capital, Arab Bank, and global family offices. This funding will support the testing of BeeX's underwater autonomous vehicles at selected CapitaLand properties. CapitaLand will provide funding of up to SGD 1 million (USD 741,000) for such innovations.
Digital Edge has secured a green loan for its South Korean data center project, SEL2. Once completed, SEL2 will be the largest commercialized colocation data facility in South Korea. Vinamra Srivastava, chief sustainability officer of CapitaLand Investment, stated that innovation is a key driver in their decarbonization journey.
CapitaLand's Sustainability X Challenge has fostered innovative solutions, with winners receiving a total of SGD 1.2 million. BeeX's successful funding round and Digital Edge's green loan for SEL2 demonstrate the growing support for sustainable technologies in the region.
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