A blockchain-based carbon tracking software courtesy of FlexiDAO has recently landed a new round of funding from Google and Microsoft’s Climate Innovation Fund, along with their previous investor EIT Innoenergy which is an European accelerator organization.
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According to the company’s press release, recently landed $6.5 million in Round A funding, led by SET Ventures. The company notes that Microsoft and Google were already prior customers of their cleantech technology to meet their climate initiatives by 2030, but now have invested even more into it. The company is also partnered with the European Union Funding for Research & Innovation.
We work on our vision of turning 24/7 carbon-free energy procurement a widely-adopted market practice by buyers, to push for a real, full decarbonization of the electrical grid.
This vision also includes a certification of 24/7 procurement, but also the development of easy solutions that any corporate buyer can adopt today to get started on the 24/7 journey without disrupting their existing sustainability agendas, which are often based on the so called “volumetric energy goals” (% renewables).
Working within the existing frameworks and certificates – like GOs, IRECs, RECs, etc. – is particularly relevant to us. It’s the reason why we work with EnergyTag and its members to make sure that our tracking systems for granular certificates is compliant with the existing regulations and meets all stakeholders’ needs. The new paradigms of 24/7 carbon-free energy procurement and its granular certification must be developed taking in account the great work that has been in the last 20 years and improve its existing schemes.
What the company based in Barcelona and Amsterdam say they provide
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With this new funding, FlexiDAO seeks to better offer their services to more companies and nations, to provide complete surveillance by ‘certify[ing] and trace electricity from production to consumption, to enable credible and verifiable claims on its carbon footprint, every hour of the day.’
Moreover, the company wrote, ‘By measuring the hourly match between energy consumption and the green energy purchased, FlexiDAO customers can verify progress towards their net zero ambitions. Electricity suppliers can increase customer engagement by providing more transparent information on the carbon footprint of their power. Extended across an economy, this transparency and accountability will support the growth of 24/7 carbon-free electricity grids, benefiting everyone.’
CEO and co-founder of FlexiDAO, Simone Accornero, said:
If we don’t act now by pushing breakthrough technologies that decarbonise every electron, every hour of every day, we will never meet decarbonisation targets.
This investment is a significant milestone for FlexiDAO, but also for the wider 24/7 carbon-free energy market. With our new partners, we can expand our global footprint and our product-portfolio, offering solutions to support companies through their journey to 100% carbon-free energy. This includes the trading and procurement of granular hourly certificates for clean energy, helping customers accelerate their transition to net zero.
As Google and others move towards 24/7 carbon-free energy, we need new capabilities that enable us to track with credibility how the carbon-free electricity produced matches what is consumed. We are very excited by the value that the partnership with FlexiDAO will unlock for Google and for the energy transition.
Maud Texier, Global Head of Clean Energy Development at Google
Last year, Microsoft announced its 100/100/0 vision and commitment to have 100% of its electricity consumption, 100% of the time, matched by zero carbon sources by 2030. We know that to achieve this goal, we will need innovative solutions like FlexiDAO that will help reliably track and verify carbon-free energy consumption.
Through Microsoft’s Netherlands datacenter pilot of FlexiDAO’s granular energy certification and this new investment, we are excited to work with FlexiDAO to advance our zero-carbon vision and to catalyze grid decarbonization.
Brandon Middaugh, Director of the Microsoft Climate Innovation Fund
Agenda 2030: You’ll Own Nothing And Be Happy
AUTHOR COMMENTARY
For wrath killeth the foolish man, and envy slayeth the silly one.
Job 5:2
These people are psychotic: “decarbonize every electron” –you mean the necessary structure of atoms and molecules, that allows us to live?
When they talk about “Electricity suppliers can increase customer engagement by providing more transparent information on the carbon footprint of their power,” and “transparency and accountability will support the growth of 24/7 carbon-free electricity grids, benefiting everyone;” allow me to translate that for you: You’ll own nothing and be happy, you’ll be tightly packed in these smart cities like a sardine in a can, where literally everything (included the masses) will be monitored, and your social credit score will get docked for saying or doing something you are not allowed to say (magically emitting too much carbon).
When they talk about reducing carbon, they mean you.
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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