HOUSTON, March 12, 2024–(BUSINESS WIRE)–Blockchain for Energy (B4E), a non-profit consortium of premier energy companies, is thrilled to announce the launch of the B4ECarbon solution, marking a significant technological leap in emissions management within the energy industry. Developed in collaboration with Enovate AI, this disruptive solution is poised to revolutionize how the energy sector approaches emissions tracking, reporting, and reduction.
B4ECarbon is the energy industry’s first comprehensive emissions management solution, leveraging blockchain, artificial intelligence, and IoT systems. This decentralized AIoT design approach addresses the urgent need for accurate, transparent, and verifiable emissions data. B4ECarbon’s development is a testament to the power of the consortium, with B4E joining forces with member company Enovate AI, leveraging its expertise in artificial intelligence and machine learning to enhance the solution’s capabilities.
At the heart of B4ECarbon is the consortium’s proprietary digital Measurement, Reporting, and Verification (dMRV) technology, which facilitates tokenizing emissions-related data. This innovative approach ensures unparalleled emissions data accuracy, immutability, and comparability. The dMRV is built on Hedera Hashgraph’s advanced distributed ledger technology, offering a secure and efficient decentralized infrastructure for data management and transparency. This eliminates the potential for greenwashing and fraud in emissions claims.
B4ECarbon is committed to championing data integrity and interoperability by adhering to the frameworks and standards set forth by the Interwork Alliance (IWA). This alignment underscores the solution’s dedication to fostering a unified approach to emissions management, facilitating seamless collaboration and data exchange across the industry and its stakeholders. The IWA standards and frameworks eliminate the proliferation of emissions data silos that are common in the industry today.
The integration of Enovate AI’s cutting-edge artificial intelligence technology suite into B4ECarbon enhances the solution’s functionality, enabling intelligent reporting, data modeling, and forecasting. This integration empowers users with deep insights and predictive analytics, driving informed decision-making for emissions reduction strategies and efficient operations. Leveraging custom-trained models, Enovate AI’s approach ensures data security for operators using the solution.
“The launch of B4ECarbon marks a transformative moment for the energy sector, combining the power of blockchain, AI, and IoT to set new benchmarks in emissions management. We’re not just tracking emissions; we’re enabling the industry to make impactful decisions based on verified data and validated environmental claims. This solution paves the way for responsible energy production and consumption that aligns with global decarbonization goals.” – Rebecca Hofmann, President, Blockchain for Energy
A fundamental feature of the B4ECarbon solution is its integrated access to Tolam Earth, providing a dynamic marketplace for environmental claims. This functionality enables the monetization of environmental assets and encourages sustainable practices with proper alignment of incentives for B4ECarbon customers.
To date, initial adoption has been from geothermal operators. However, B4ECarbon has been built to serve other segments of the energy sector, including hydrogen production, Carbon Capture and Storage (CCS), and traditional energy generation. This broad focus reflects B4E’s commitment to driving environmental sustainability across the entire energy landscape. B4ECarbon will be available via the B4E Network & Platform, serving as the industry’s gateway into decentralized ledger technology and decentralized identity, along with our other revolutionary solutions, built for the industry, by the industry.
About Blockchain for Energy
The Blockchain for Energy (B4E) consortium provides its members with forward thinking learnings and solutions. It collaboratively drives digital transformation by providing members with opportunities to accelerate their digitalization journey. Through collective synergies, B4E seeks to resolve, reinvent, and transform the industry’s standard ways of working with external parties. Blockchain for Energy is a safe venue to create transformational change – for the energy industry – by the energy industry. Current B4E members and collaborators include Chesapeake Energy, Chevron, ConocoPhillips, Devon Energy, ExxonMobil, Repsol, Saudi Aramco, Schlumberger, Enovate AI, Emerson ZEDI, Hedera, GBBC/IWA and Tolam Earth.
About Enovate AI
Enovate AI delivers business and operational process optimization for decarbonization and energy independence through digital engineering and automation. Enovate AI’s proven technology model is enabled by the capacity to deliver digital solutions that accelerate a clean, efficient, and diversified energy supply. Enovate AI supports oil and gas, renewables, and CCS operations with an end-to-end digital package from optimization to monetization. Enovate AI supports a cleaner, more efficient, and diversified energy industry through the deployment of effective AI solutions. At Enovate AI we realize the full potential of process autonomy to create a more profitable, sustainable, and environmentally responsible energy industry across the globe.
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Contacts
Martin Juniper
Blockchain for Energy
T: 713.816.4173
social@blockchainforenergy.net
Rebecca Nye
Enovate AI
T: +44 (0) 7588616791
contactus@enovate.ai
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