REDEX, the Singapore-based renewable energy certificates (RECs) trading platform, will be an exclusive partner to Malaysia’s utility company Tenaga Nasional Berhad (TNB)’s wholly-owned subsidiary TNBX, to support the development of the Malaysia Green Attribute Trading System (mGATS) into the country’s preeminent digital trading platform for Malaysia Renewable Energy Certificates (mREC).

REDEX said in a statement on Monday that the upgraded platform will provide a new avenue for businesses to conveniently pursue their renewable energy commitments and accelerate the nation’s pursuit of a sustainable energy future.

Launched five years ago as an information hub on RECs, the revamped mGATS will leverage REDEX’s innovative technological solutions to facilitate live trading and auctions while providing users with price transparency for mRECs acquisition.

“REDEX is honored to be chosen by TNBX as a partner for the development of mGATS into a premier digital trading platform for the Malaysian market,

“We are excited to be part of the country’s journey to create a sustainable future for current and future generations,” said REDEX Founder and Chief Executive Officer Kang Jen Wee.

According to him, this collaboration also deepens the firm’s presence in Malaysia and highlights its innovative technological solutions to the wider REC industry.

“It also paves the way for deploying such similar proven solutions in other countries,

“Utilizing our expertise and experience, REDEX will work closely with TNBX to enable more renewable electricity certification in Malaysia,” he added.

“The revamped mGATS is a significant step forward in Malaysia’s journey towards low carbon energy future,” TNBX Managing Director Mohd Razif Abd Halim said.

In line with the National Energy Transition Roadmap (NETR), he said this initiative will promote renewable energy and bolster Malaysia’s ambition to achieve net zero carbon emissions by 2050.

“We are pleased to have REDEX, an experienced REC solution provider as our exclusive partner and we look forward to working with REDEX to develop a world-class platform for Malaysian corporate and industrial entities to use,
” he said.

He also said TNBX will continue to provide practical and user-friendly renewable energy solutions for our valued customers and the Malaysian market.

REDEX is a firm provides innovative technological solutions that enable companies to adopt renewable energy with ease.

REDEX developed and operates Asia’s leading trading platform for RECs.

It offers a one-stop ecosystem for RECs, supporting clients through the full REC lifecycle – asset registration, verification, marketplace and retirement.

TNBX is a one-stop mREC solutions provider for Malaysian consumers and businesses. 

The firm aims to provide value propositions to customers through smart and innovative solutions especially in renewable energy (RE) and energy efficiency (EE).

IT provides a one-stop center solution to the customers and nation such as supply agreement – Renewable Energy (SARE), Malaysia Renewable Energy Certificate (mREC), and electric vehicle (EV) charging platform.

Singapore’s REDEX raises $10M in Series A funding led by Aramco Ventures