ABU DHABI, UAE and LONDON and SINGAPORE, Dec. 27, 2022 /PRNewswire/ — AirCarbon Exchange (ACX), the global exchange revolutionizing the Voluntary Carbon Market (VCM), is pleased to announce the successful close of its convertible note series with Singapore-based decarbonization investor, TRIREC, investing as the lead investor.
As Asia's earlier and leading early stage decarbonization venture capital investor – TRIREC brings to ACX valuable knowledge and experience in financial markets and climate technology from a global perspective. The substantial synergies across TRIREC's and ACX's respective businesses add to the value proposition for this successful investment.
The convertible note series also included investments from Mubadala Investment Company PJSC, an existing investor in ACX, as well as the Corporate Venture Capital arm of Banpu Public Company Limited.
Thomas McMahon, CEO and Co-Founder of ACX said, “As another validation of ACX's work thus far, this note series reflects the confidence of investors in our journey to revolutionise the carbon markets. We are delighted to have TRIREC on board and look forward to working closely with the TRIREC team to further ACX's growth.”
Mevlyn Yeo, Founder and Managing Partner of TRIREC said, “With our investment into ACX, we're backing incredibly strong founders in Thomas and William, who have deep wealth of knowledge and track record of operational execution in building financial trading platforms. Coupled with the robust structural tailwinds that the carbon markets are facing; we are convinced that ACX will be a major driver of growth in our portfolio and a significant participant in the ecosystem”.
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