- Automation of Renewable Energy Certificate transactions drives global sustainability.
- The collaboration between EDF, REDEX and Rekursive Labs sets a transparent standard in renewable energy.
In a significant milestone for the energy industry, Électricité de France (EDF), a world leader in electricity production and the largest generator of renewable energy in Europe, has joined forces with REDEX and Rekursive Labs in a groundbreaking project.
This effort, backed by a proof-of-concept (POC) analysis, uses Hedera’s distributed ledger technology (DLT) to automate Renewable Energy Certificate (RECs) transactions, marking a new chapter in the quest for efficiency, transparency and sustainability in the $19 billion renewable energy certificate market.
Commitment to a Sustainable Future
At the heart of this collaboration is a shared vision of a greener and more sustainable future. EDF, with its expertise in renewable energy and electric vehicle charging, finds itself as the ideal partner for this initiative. The company is committed to sustainability and sees Distributed Ledger Technology (DLT) as the perfect tool to drive positive change in the renewable energy sector.
?? @EDFofficiel, a global electricity giant, just powered up on #Hedera! They've partnered with REDEX and Rekursive Labs to revolutionize renewable energy certificates management. ?⚡
Hedera's tech + open-source Guardian platform = a greener, more efficient #ReFi market! ? pic.twitter.com/B7EszTDCWf
— Collin Brown (@CollinBrownXRP) November 29, 2023
Successful Demonstration in Singapore
The project has materialized at EDF’s MASERA microgrid demonstrator in Singapore, where the automatic redemption of tokenizedRECs at electric vehicle charging stations has been achieved .
The initiative involved collecting data from a variety of sources, from solar panels to generators and energy storage systems. This data was compared in near-real time with the energy consumption of electric vehicle chargers, ensuring an accurate match between certified green energy use and actual consumption at charging stations.
Addressing Environmental Emergencies
Zhaotan Xiao, CEO at REDEX, highlights the urgency created by the European Union’s Carbon-Based Emissions Adjustment Assessment (CBAM), highlighting how tokenization offers a simpler and more scalable architecture for tracking environmental attributes in global supply chains.
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Technology Integration Vision
Jason Loh, co-founder and Chief Commercial Officer of Rekursive Labs, stresses the importance of incorporating renewable energy certificate (REC) technology into all renewable energy production and consumption systems. By utilizing Web3technologies and processes , organizations can track renewable energy consumption throughout the entire supply and production chain, ensuring transparency and integrity.
Hedera: The Ideal Platform
The Hedera Network stands out as the ideal medium for this POC due to its speed, scalability, enterprise focus and Guardian’s open infrastructure. The Hedera Network offers fast and cost-effective transactions, making it the perfect choice for real-time REC redemptions compared to other distributed ledger technologies (DLTs). In addition, Hedera’s commitment to its carbon-negative status aligns perfectly with the goal of promoting a global movement towards sustainable energy production.
Standard for Sustainability
The collaboration between EDF, REDEX and Rekursive Labs supported by Hedera marks a significant step forward in automating and improving traceability in the renewable energy certificate market. This project not only drives the adoption of renewable energy efficiently, but also sets a standard for transparency and sustainability in energy production and consumption globally. In a world increasingly focused on sustainability, these initiatives are essential for a greener and more equitable future.
