EKI Energy Services Ltd., collaborated with FARI Solutions, a known name in blockchain research and development firm operating across North America, Europe, and Eurasia, including Azerbaijan. The Memorandum of Understanding (MoU) marks a significant milestone in EKI’s commitment to spearheading carbon credit initiatives and bolstering sustainable development efforts in the region.
EKI will serve as the strategic associate of FARI Solutions, assuming responsibility for overseeing the entire spectrum of processes related to conceptualizing, documenting, verifying, issuing, and trading carbon credits. The strategic partnership aims to promote the competitiveness of both parties while fostering the development and expansion of business relationships in Azerbaijan.
As per the press release, the memorandum delineates the areas, institutional arrangements, and general conditions governing the cooperation between EKI Energy Services Ltd. and FARI Solutions. It serves as a comprehensive framework that embodies the mutual commitment towards achieving shared objectives in sustainable energy and environmental stewardship.
Manish Dabkara, Chairman and Managing Director, EKI Energy Services Ltd. said, “We are looking forward to this journey with FARI Solutions, leveraging our collective expertise to advance sustainable energy initiatives in Azerbaijan. This partnership underscores our dedication to driving meaningful change and underscores our commitment to delivering innovative solutions that positively impact our environment globally”.
Siddhant Gupta, Vice President of Business Development, EKI Energy Services Ltd. added, “Joining forces with FARI Solutions is a strategic move for EKI Energy Services Ltd., one that aligns with our mission to pioneer sustainable solutions globally. This partnership signifies our dedication to driving innovation and underscores our proactive approach in expanding our presence in Azerbaijan’s evolving carbon credit sector. Together, we’re poised to catalyze transformative change, setting a new standard for sustainability in the region”.
The MoU underscores the exclusivity conferred to FARI Solutions for activities covered within the region of Azerbaijan, solidifying EKI’s commitment to fostering strategic collaborations that yield tangible results.
“Our innovative approach with blockchain technology and digital assets, and our partnership with EKI’s renowned expertise in energy solutions promises groundbreaking advancements in the tokenization of the carbon credit landscape. Together, we’re poised to lead the charge in shaping a greener, more prosperous future for Azerbaijan and carbon markets, leveraging our collective strengths to drive lasting environmental impact,” commented Shafiq Amiri, Chief Operating Officer, FARI Solutions.
