Tharawat Green Exchange

Tharawat Green Exchange (TGE) operates as a Web3 provider with a clear focus on environmental sustainability, directly aligning with Saudi Arabia's Vision 2030. Founded in 2023 by Yakeen Al Zaki (CEO), Hassan Al Redha, and Yasser Alobaidan, the Riyadh-based company has positioned itself as a key player in the regional carbon offsetting market. In a significant milestone, TGE secured $450,000 in early-stage venture capital from Adaverse in late 2024, a Saudi Web3 and blockchain fund. This capital is earmarked for enhancing its blockchain infrastructure, boosting sales and marketing, and crucially, obtaining Vera certification to ensure its carbon credits are recognized on the global market.

The company’s business model is built upon a blockchain-enabled platform that connects three core participants: offsetters, tree suppliers, and project owners. Offsetters, typically organizations or individuals seeking to mitigate their carbon footprint or fulfill corporate social responsibility mandates, fund the initiatives. In return, they receive a blockchain-registered Carbon Credit Certificate. These funds are directed to suppliers, such as local nurseries, who provide the trees for planting. Each tree is tracked with an NFT that contains specific details like GPS coordinates and carbon offset value, ensuring a high degree of transparency and traceability. Project owners, who are undertaking local land and afforestation projects, are the ultimate recipients of these resources. This localized approach, concentrating exclusively on Saudi-based projects, distinguishes TGE from global providers and directly supports the national goal of planting 10 billion trees.

TGE's core service is a marketplace for carbon credit issuance and tree planting, designed to be both secure and transparent. The platform leverages blockchain and NFTs to verify and track environmental projects, simplifying the process for businesses and individuals to make tangible contributions to sustainability. This technological approach not only enhances efficiency and trust but also democratizes access to carbon markets. By focusing on the Saudi market, TGE aims to increase visibility and accessibility for both buyers and sellers, fostering more competitive pricing and better opportunities for all participants. Looking forward, the company has ambitious goals, aiming to plant 2.2 million trees within five years and is planning further fundraising to scale its product development and market penetration.

Keywords: carbon offsetting, blockchain, environmental sustainability, Saudi Vision 2030, carbon credits, tree planting, Web3, green economy, climate impact, NFTs, ESG, cleantech, environmental services, carbon marketplace, afforestation projects, Riyadh startup, Adaverse, sustainable finance, impact investing, green technology, Yakeen Al Zaki, Hassan Al Redha, Yasser Alobaidan