(MENAFN- Mid-East)
S3 is set to revolutionize the climate economy, integrating diverse segments into single value chains, delivering commercially viable end-to-end solutions.
The company aims to address developing nations, fostering global cooperation, in the pursuit of low-carbon economic development.
“S3 will deploy capital and management resources on an unprecedented scale, becoming one of the largest companies dedicated to combating climate change”.
Abu Dhabi, UAE: Sirius International Holding, a subsidiary of IHC, announces the establishment of Smart Sustainability Solutions (S3), a pioneering climate company, focused on offering end-to-end industrial scale solutions for the transition to a net-zero economy.
S3's focus is on four critical segments of the new climate economy: Methane, Carbon, Circularity (Circular Economy), and Water Efficiency. Demonstrating a clear commitment to advancing the transition to a sustainable future, the company has already begun to implement impactful solutions in these areas.
Within the Methane vertical, S3 is developing a full-service engineering and construction company dedicated to mitigating methane emissions and promoting methane abatement across the entire Oil & Gas industry, covering upstream, midstream, and downstream segments.
In the realm of Carbon, S3 is pioneering as the world's first vertically integrated carbon management enterprise, extending the Oil & Gas value chain from the point of CO2 capture. A separate unit within the Company will also capitalize on existing carbon accounting and trading platforms.
S3's Circular Economy vertical is strategically positioned as an in-house investment manager, with a specific focus on scaling up industrial technologies aligned with the circular economy principles. This strategic initiative includes harnessing excess waste energy from diverse sources and orchestrating synergistic clean energy transformations and production loops.
Lastly, the Water vertical within S3 is dedicated to commercializing cutting-edge technologies aimed at optimizing water usage and recovery of water resources from agricultural processing and industrial operations. S3's objective in this domain is to combat water scarcity in specific locations by providing a new source of drinkable, sustainable, plant-derived water for initiatives with social and environmental impact.
Sirius has committed to investing the capital required to fully develop these business verticals, capitalizing on its existing assets, and operationalizing its strategy, including 'finance-build-operate-transfer' models. In October, IHC transferred some its sustainability linked assets under Sirius management. With further consolidation, the new S3 will integrate these and other assets into its four business verticals.
“S3 represents a groundbreaking approach to our sustainability efforts,” said Ajay Bhatia, CEO of Sirius International Holding.“We are integrating unique and diverse business segments into a cohesive ecosystem to deliver commercially viable end-to-end solutions at an unprecedented scale. We are not just envisioning a sustainable future; with multiple projects in hand, we are taking concrete steps to actively create it.”
Mr Bhatia added:“Our commitment is to provide innovative and effective solutions to combat climate change and create a sustainable future for all. The objective of S3 is to bridge the gap in the market and establish itself as the largest company dedicated to combating climate change.”
In the context of COP28, and amidst the commitment of leading UAE businesses to present scalable and replicable solutions to climate solutions that are both environmentally beneficial and economically feasible, these business verticals will play a pivotal role in advancing corporate agendas focused in achieving net zero emissions, fulfilling methane reduction pledges, and implementing strategies for net positive water impact.
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