Energy Capital Vietnam Signs Cooperation Agreement with SaigonTel and Allotrope Partners to Lead Green Infrastructure Development Alliance in Vietnam

Rhea-AI Summary

Energy Capital Vietnam, SaigonTel, Allotrope Partners, Chart Industries, and Babcock & Wilcox have signed a cooperation agreement to develop Vietnam's first net zero industrial parks and advance its national carbon emissions goals. The partners will focus on developing and implementing net zero strategies at SaigonTel's Tan Tap and Nam Tan Tap Industrial Parks. This agreement is a significant step towards developing Vietnam's first net zero industrial parks and mobilizes provincial action plans to support national decarbonization goals.

The agreement is a significant step towards developing Vietnam's first net zero industrial parks and mobilizes provincial action plans to support national decarbonization goals.

HOUSTON, Aug. 16, 2023 /PRNewswire/ -- At a conference on the Master Plan Announcement and Investment Promotion of Long An Province, Vietnam, Energy Capital Vietnam (ECV), SaigonTel (HOSE: SGT), Allotrope Partners LLC, Chart Industries, Inc. (NYSE: GTLS), and Babcock & Wilcox (NYSE: BW) signed a cooperation agreement to develop Vietnam's first net zero industrial parks and advance its national carbon emissions goals.

Prime Minister Phạm Minh Chính delivered remarks during the conference, which was also attended by former President Trương Tấn Sang and other past members of the Politburo, as well as current government officials and industry leaders.

Under the agreement, the partners will focus on developing and implementing net zero strategies at SaigonTel's Tan Tap and Nam Tan Tap Industrial Parks. This will also serve as a foundation for developing a broader provincial roadmap for Long An to reach net zero emissions by 2050.

"ECV is proud to join this powerful decarbonization consortium that will contribute to Vietnam's national net zero goals while preserving economic growth through energy security," said David Lewis, Chairman and CEO of Energy Capital Vietnam. "We are truly honored to work with Marc Stuart and the Allotrope team to develop pragmatic pathways to decarbonize industrial parks and provincial master plans. Long An Province will be at the forefront of low and no-carbon manufacturing facilities in Vietnam."

Marc Stuart, Founder and CEO of Allotrope Partners, said, "I was impressed by the caliber of the conversations regarding decarbonization at the event. They were among the most sophisticated and nuanced I've had in 30 years in the field. We're excited to partner with this incredible group of leaders to take this step for meaningful decarbonization in one of the most productive industrial baskets in the world.  Thanks to SaigonTel and the Energy Capital Vietnam team for tireless work bringing all the pieces together."

Lewis continued: "One of ECV's three focus areas is climate and the environment. Working with the experts at Allotrope Partners and a blue-chip company like SaigonTel enables us to bring this model to additional provinces and demonstrates our commitment to core values and delivering practical energy solutions in Vietnam."

About ECV:
Energy Capital Vietnam (ECV) is a Houston, Texas-based project development and holding company established as a platform for direct investment into Vietnam's energy and infrastructure sectors. Learn more at: www.ecvholdings.com

About Allotrope Partners:
Allotrope Partners invests in projects and companies engaged in the clean economy transition. For the past five years, Allotrope has led deep engagement in Vietnam supporting industrial companies on clean energy and decarbonization solutions. This includes advancing aggregated commercial and industrial rooftop solar projects in Vietnam and leading a consortium of partners to install Vietnam's first behind-the-meter battery energy storage system. Learn more at: www.allotropepartners.com  

Contact:

Frank De Maria
fdemaria@ecvholdings.com
+1 347 647 0284

Elie Jacobs
ejacobs@ecvholdings.com
+1 646 330 2585

View original content to download multimedia:https://www.prnewswire.com/news-releases/energy-capital-vietnam-signs-cooperation-agreement-with-saigontel-and-allotrope-partners-to-lead-green-infrastructure-development-alliance-in-vietnam-301902798.html

SOURCE Energy Capital Vietnam

FAQ

Who are the companies involved in the cooperation agreement?

The companies involved in the cooperation agreement are Energy Capital Vietnam, SaigonTel, Allotrope Partners, Chart Industries, and Babcock & Wilcox.

What is the objective of the agreement?

The objective of the agreement is to develop Vietnam's first net zero industrial parks and advance its national carbon emissions goals.

Which industrial parks will be focused on for net zero strategies?

The partners will focus on developing and implementing net zero strategies at SaigonTel's Tan Tap and Nam Tan Tap Industrial Parks.

What is the timeline for reaching net zero emissions in Long An Province?

The agreement will serve as a foundation for developing a broader provincial roadmap for Long An to reach net zero emissions by 2050.

What is Energy Capital Vietnam's focus area?

One of Energy Capital Vietnam's three focus areas is climate and the environment.

What are the benefits of the agreement?

The agreement contributes to Vietnam's national net zero goals while preserving economic growth through energy security. It also demonstrates the commitment of the companies involved to delivering practical energy solutions in Vietnam.