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Dabeeo signed an MOU with WELLBRED for responding to Saudi Green Initiative and attracting investment from the Saudi Public Investment Fund (PIF).

2023-12-04 조회수 1259

[Photo Caption] On the 27th, Dabeeo and WELLBRED signed an MOU for global climate change response and the Saudi Green Initiative.


A spatial-specialized AI technology company, Dabeeo, is gearing up for technological collaboration in preparation for Saudi Arabia's post-oil era project, 'Vision 2030.' Dabeeo recently announced its first step in this direction by signing a memorandum of understanding (MOU) with WELLBRED on the 27th for global climate change response and the Saudi Green Initiative.


Starting with this collaboration, Dabeeo plans to concretize various projects related to the realization of 'Vision 2030,' a blueprint for future generations that Saudi Arabia aims to achieve. This includes environmental technology development and the cultivation of green talents as part of the 'Saudi Green Initiative.' Through this, Dabeeo plans to support Saudi Arabia in actively responding to climate change, including green energy and carbon neutrality, thereby contributing to strengthening leadership in the international community.


Dabeeo possesses cutting-edge AI technologies and data analysis capabilities, particularly in satellite image analysis for forestry protection, afforestation, and reforestation to the analysis of deforestation and carbon emission rights-related projects. With extensive experience gained from global projects such as monitoring palm tree vitality in Indonesia and analyzing deforestation in Vietnam, Dabeeo is well-equipped to address climate change challenges. This expertise has led to the partnership with WELLBRED.


WELLBRED, a company that has traditionally engaged in oil trading businesses targeting the Middle East regions such as Saudi Arabia and the UAE, Africa, and Europe, has recently expanded its business scope into carbon neutrality and the global ESG (Environmental, Social, Governance) field in response to climate change. Through collaboration with Dabeeo, WELLBRED intends to actively support Saudi Arabia's carbon neutrality goals by utilizing its capabilities in global carbon offsetting, carbon reduction efforts in the petroleum/chemical industry, and manufacturing.


Both companies announced plans to enhance digital MRV systems, including satellite image-based AI technology for deforestation analysis and estimating carbon potential in forests. They aim to commercialize the carbon emission rights trading market, actively respond to challenges related to climate change and carbon emissions, and pursue innovative business solutions for a sustainable future. The MOU between Dabeeo and WELLBRED is expected to serve as a model case for a global partnership emphasizing technological innovation, environmental protection, and collaboration with the international community.


Ramon Carrasco, ESG Global Director at WELLBRED, expressed confidence in Dabeeo's proposal for Saudi Vision 2030, expecting its practicality and effectiveness to receive a positive response from the Saudi Public Investment Fund (PIF). Dabeeo's Director, Sue Kyoung Lee, stated the commitment to leveraging the cooperative foundation with WELLBRED to contribute Dabeeo's advanced technology to enhance sustainability and collaboration in Saudi Arabia.


Dabeeo's CEO, Ju Hum Park, pledged to contribute to effective responses and sustainable development in the face of climate change in Saudi Arabia and the Middle East through collaboration with WELLBRED. Furthermore, he expressed ongoing contemplation on how Dabeeo's AI technology could contribute to addressing environmental issues faced by the international community. Ghazi Abualsaud, Global CEO of WELLBRED, conveyed the intent to fully utilize WELLBRED's network and capabilities to apply Dabeeo's outstanding satellite-based AI technology for Saudi Vision 2030, aiming to lead cooperative efforts contributing to global sustainability.



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