BizData "Expanding Korea-Canada Cooperation in Environmental Technology and Services"

MOU Signed to Establish Joint Venture with Canada's Trium
"Aiming to Expand to a $50 Million Business by 2028"

Domestic leading environmental artificial intelligence (AI) big data specialist company 'BizData' and Canadian environmental technology and service specialist company 'Trium' signed a memorandum of understanding (MOU) on the 23rd to establish a joint venture company, ecoAI innovates Inc. (tentative name), in Alberta, Canada.

According to industry insiders including BizData, BizData and Trium held a signing ceremony for the establishment of the joint venture company at Lotte Hotel Seoul on the same day. Trium was part of the Canadian trade delegation led by Mary Ng, Canadian Minister of International Trade, and the two companies aim to expand technological cooperation between Korea and Canada and pioneer the global market through the establishment of the joint corporation. Minister Mary Ng also attended the signing ceremony.

Sevens Waddell Trium, President, and Kim Tae-jin, CEO of BizData, are signing a memorandum of understanding (MOU) for the establishment of the joint venture company 'EcoAIInnovates' on the 23rd at Lotte Hotel in Jung-gu, Seoul. Trium recently participated as a member of the Canadian trade delegation led by Mary Ng, Canadian Minister of International Trade, who also attended the signing ceremony.

Both companies plan to apply AI technology to their respective environmental solution fields based on the recognition that the application of information technology (IT) to the environmental sector, which has attracted global attention, will create new business opportunities. Accordingly, it is expected to help develop renewable energy and eco-friendly technologies and enable efficient resource management.

Through the MOU, by utilizing the AI technology developed and applied by BizData to design an intelligent system for real-time pollutant inspection, analysis, prediction, and response to Trium's environmental data, it will be possible to quickly understand the causes and impacts of environmental pollution. It will also be possible to predict future pollution levels and enable environmental protection measures and rapid response.

Accordingly, the two companies plan to establish the joint venture ecoAI innovates in Calgary, Alberta, Canada next month and launch the first product line of the soil analysis service 'AISCT' solution applying AI-based site characterization technology. They also have investment and expansion goals for a business valued at 50 million dollars by 2028.

Currently, BizData is recognized as an innovative company in AI-based solutions for the environment and energy sectors by building partnerships with specialized companies in various fields such as water supply, sewage, and energy. It has been continuously expanding related businesses, including recently developing an environmental water treatment platform module.

Trium is a Canadian environmental remediation technology company that solves complex environmental problems by combining innovation and sustainability. Since its establishment in January 2006, it has conducted pollution investigation and remediation projects at contaminated sites across North America, the Middle East, Korea, China, and other parts of the world, as well as numerous research and development (R&D) and commercialization projects. Recently, it has been developing environmental pollution prediction technology applying AI.

Kim Tae-jin, CEO of BizData, said, "By combining Trium's dedicated efforts for environmental protection with BizData's AI capabilities, we have laid the foundation for the development of a new business field called environmental AI. We will do our best to create a platform that not only meets market demand but also has a positive impact." Jevens Waddell, President of Trium, said, "Our goal is to establish a leading company providing environmental solutions, and cooperation with BizData brings significant progress in combining data technology and environmental protection, marking the beginning for a sustainable future."

This MOU was realized with the participation of investment partner Big Bang Ventures, the Commercial Section of the Canadian Embassy in Korea, and the Alberta Government Office in Korea, who searched for and recommended partners with the necessary expertise for each company. Goo Tae-hoon, CEO of Big Bang Ventures, said, "Big Bang Ventures has an investment philosophy of 'investing after overseas verification,' and prioritizes global scale-up for companies that fit this philosophy. This agreement is being promoted as part of a global scale-up business expected to grow further under Big Bang Ventures' investment program."