SEPTEMBERASIA BUSINESS OUTLOOK8NEWSROOMAtec, a company in Cambodia that is developing internet of things (IoT) clean cookstoves, has secured US$15.5 million in a funding round co-led by Lightrock and TRIREC.The funds will support the deployment of up to 200,000 smart cookstoves over the next three years in Bangladesh, Cambodia, Malawi, and Nepal. ATEC's technology enables measurement and verification of household-level carbon credits, which can be tracked through a blockchain ledger.Other investors in the round include Schneider Electric Energy Access Asia Fund, the company said. According to ATEC, its cookstoves are intended to replace traditional fuels such as wood and charcoal that contribute to air pollution and greenhouse gas emissions.ATEC stated it has distributed more than 25,000 clean cooking devices in the Global South to date. Singapore Telecommunications (SingTel) is facing renewed regulatory scrutiny after its Australian subsidiary, Optus, suffered a network outage on September 18 that disrupted emergency call services and is linked to three reported deaths.Optus, which accounts for nearly half of SingTel's revenue, experienced the outage during a network upgrade, affecting emergency call access in South Australia, the Northern Territory, and Western Australia. Australian regulators have launched an investigation into whether Optus complied with its emergency call service obligations, citing the vital importance of reliable emergency connectivity. Communications Minister Anika Wells expressed frustration at the company's repeated failures and suggested that regulatory changes may follow based on the findings.This is not Optus' first major incident the company was fined A$12 million in 2023 following a nationwide outage that similarly disrupted emergency calls.In response, Optus, CEO, Stephen Rue announced that an external expert will be appointed to review the incident, and the findings will be shared publicly to restore trust. The telco has also paused network changes, introduced continuous monitoring of emergency call systems, and is investigating why it took 13 hours to detect the outage.The outcome of the investigation could have major implications for SingTel's Australian operations, regulatory compliance standards, and the broader telecom industry's emergency infrastructure obligations. ATEC SECURES $15.5M FUNDING FOR LIGHTROCK & TRIRECSINGTEL'S OPTUS FACES PROBE AFTER FATAL NETWORK OUTAGE· ATEC secures US$15.5M to deploy 200,000 IoT-enabled clean cookstoves.· Smart cookstoves to generate household-level carbon credits via blockchain.· Over 25,000 clean cooking devices already distributed across the Global South.· Optus outage disrupted emergency calls in three Australian regions· Regulators launch probe; reforms may follow to ensure reliability· CEO pledges external review, public findings, and stronger safeguards
< Page 7 | Page 9 >