VCM CEO: Major deal with Flynas

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00:00Okay, I just want to take a step back at this stage, and I wondered if you could give us another real-world example.

00:07I noticed that FlyNAS has signed an agreement with you.

00:11Tell us, you know, really for the benefit of people who don't even know what carbon credits are,

00:16how do they use, in this agreement, your services, the services of your company, Voluntary Carbon Credits, to reach carbon neutrality?

00:26How does that work?

00:26Well, FlyNAS participated with us in the launch of the exchange by transacting with us,

00:32and that is a huge thing for, I'm not talking about national air carriers in our region,

00:37but I'm talking about budget airlines as well, participating in that, which shows you the importance of that and the commitment.

00:45The airline industry is hard to abuse sector because they burn energy, fuel,

00:52and that is very important for them to lower their emissions.

00:54There is the Corsair Scheme, which is a global agreement between the airline industry to reduce their emissions,

01:01use different alternative fuels, but that takes time.

01:05And hence, using carbon credit offset to lower the emissions of the airlines is very important.

01:10We have Saudi Airlines participating with us as well.

01:13We have AlphaStar.

01:14We have FlyNAS.

01:16So we have all sorts of companies in the airline industry in the kingdom.

01:21I would like to mention Saudi Arabia, Saudi Airlines, Saudi Airlines, that they were one of our anchor partners.

01:28We had five anchor partners.

01:30Saudi Airlines was pioneering with us in setting up the market and the ecosystem.