The Asia Development and Investment Bank (ADIB) has announced a strategic equity investment in DeepGreenX, a green energy and technology firm.

As part of the agreement, ADIB will provide the firm with $140 billion of engineering, procurement, construction, and data management projects and exclusive placement and management rights to a matching $140bn leasing fund over the next six years to support green energy projects.

Following the investment, ADIB will hold a 36 percent stake in DeepGreenX.

The leading fund will focus on supporting AI-powered financialization solutions for various green energy markets, including green data centers and low-energy computing, small nuclear reactors, energy storage solutions, alternative fuel production, virtual power grids, and power grid equipment.

Sam Yu Sun, chairman of DeepGreenX, CEO of ADIB, and president of ADIB commented: “Through this transaction, the Company is positioned to architect the infrastructure necessary to capitalize on the green energy transition, empowering public and private organizations alike to monetize environmental data. We are excited to be partnering with the talented team at DeepGreenX to unlock the enormous opportunity ahead.”

DeepGreenX was founded in 2020 and is headquartered in Seoul, South Korea. The company has operations in 20 countries and offers a broad suite of services, including carbon credits, green energy certification, and nature-based assets for the technology and data center sectors.

ADIB has made several investments in the clean energy sector. In April, it completed an equity investment of $100 million in TNB Genco, a subsidiary of Tenaga Nasional Bhd, a Malaysian national energy company, to expand its renewable energy portfolio. ADIB will partner on solar and wind investments in existing markets in Malaysia and the UK, as well as new markets such as Spain and Vietnam.