Xeptagon plants flag in Colombo Port City, cementing SL’s spot on global climate-tech map

In a move signalling a new era for Sri Lanka's technology sector, climate finance firm Xeptagon officially opened its new engineering hub at the Colombo Port City Business Centre recently.

- By NISHEL FERNANDO

The company marks a significant milestone as the first to begin operations within the Port City IT Park, establishing a powerful launchpad for its global ambitions from Sri Lankan soil.

The launch event, attended by senior government officials, UN representatives, and leaders from the finance and academic sectors, underscored the company's rapid ascent from a local startup to a formidable player shaping the digital infrastructure for global carbon markets.

Founded in 2019 with the express vision of avoiding the well-trodden path of typical software services, Xeptagon aimed for a global niche: building the critical infrastructure the world needs to achieve carbon neutrality.

"From the beginning, our ambition was to build cutting-edge products that could put Sri Lanka on that global finance map," stated Dr. Sapumal Ahangama, Co-Founder and Managing Director of Xeptagon, during his opening address.

That ambition is now a reality. Xeptagon has become an international leader in delivering trusted climate finance infrastructure, specialising in Article 6-aligned national carbon registries and platforms that enable countries and corporations to meet their Paris Agreement commitments.

The core of Xeptagon's mission addresses one of the planet's most complex challenges. Over 190 countries have pledged to become carbon neutral, most by 2050. However, achieving this is a monumental task, as many essential industrial processes inevitably produce carbon emissions.

«The only solution for this based on the Paris agreement is to provide offset credits,» Dr. Ahangama explained, referring to a system where unavoidable emissions are balanced by supporting projects that absorb carbon, such as reforestation or renewable energy.