Saudi-based Tharawat Green Exchange (TGE) has secured a SAR 1.69 million investment from Adaverse. This strategic move aims to leverage Web 3.0 technology to drive environmental sustainability in line with Saudi Vision 2030.
Ambitious Foundation for Environmental Sustainability Through Web 3.0
Founded in 2023 by Yakeen Al Zaki, Hassan Al Reda, and Yasser Alobaidan, Tharawat Green Exchange is building an integrated platform utilizing blockchain technology. The platform connects companies seeking carbon offset opportunities with local reforestation and land projects, simplifying the process of supporting environmental initiatives.
Commenting on the investment, Yakeen Al Zaki, CEO and co-founder of Tharawat Green Exchange, said, “Adaverse’s support is a powerful boost for achieving Saudi Arabia’s sustainability goals. Our platform makes it possible for individuals and companies alike to actively contribute to building a greener future.”
Investment to Enhance Technology and Market Expansion
The new funding will be directed toward developing the company’s blockchain infrastructure, supporting marketing and sales activities, and pursuing Vera certification for carbon credits. This certification is expected to enhance the platform’s credibility and trustworthiness among users.
Tharawat Green Exchange is targeting a market valued at approximately $500 billion, with plans to expand globally into a projected $1 trillion market, growing at an annual rate of 6%. The company is also planning to raise an additional SAR 1.5 million to further develop its products and expand its technological infrastructure, aligning with its vision to create a unique environmental sustainability platform.
