The innovation project developed by the Valencian company Greenb2e for the valuation of energy surpluses and tokenization of CO2 emissions through blockchain technology will be presented this Thursday as an example of a success story at the Climate Summit 2019 (COP25), which is being celebrating these days in Madrid.
Greenb2e has been working on this innovation project for three years, which he developed in the third Bankia Fintech by Innsomnia call. It should be remembered, as published in this newspaper two months ago, that both entities - with the financing of the Valencian Colectual as well - carried out a proof of concept - POC in English for its initials, Proof of Concept - in an installation of solar pumping in the municipality of Argamasilla de Alba.
The Valencian company of green energies replaced diesel engines with photovoltaic panels, as seen in the photo below, to provide electricity to the water extraction pumps for irrigation. Once this substitution was made, the CO2 emissions avoided were calculated and for this purpose, the Green platform was used, which was created for this purpose, providing traceability and certifying said 'green certificates' that are later tokenized using Bankia's Stockmind platform. Both platforms are developed under blockchain technology.
This joint project aroused the interest of the World Bank (WB) and, in addition, resulted in an invitation to Bankia to be part of the Advisory Group for Article 6 of said institution created specifically for the 'Climate Markets' project. It is made up of representatives of governments, executing entities of emission reduction projects and twelve private sector companies. The objective sought is none other than to launch an international carbon market in implementation of Article 6 of the Paris Agreement to transfer experience in this field.
And it will be this Thursday when Bankia exposes said project in the Dialogue Room of COP25 to the rest of the members of the Advisory Group for Article 6 of the World Bank. "It is a pride that a project of this caliber, which has emerged from innovation and entrepreneurship applied to sustainability, can be present at an event of this relevance and serve to contribute our grain of sand to the fight against climate change. Our project combines renewable energies, sustainability and new technologies (blockchain) and is already a reality. We wanted to go further and provide added value to all renewable energy facilities developed by our company or by other companies in the sector ", points to This newspaper Verónica Rodriguez, CEO of Greenb2e.
Rodriguez recalls that "many years of experience in the renewable energy sector - and investment in them - should be an obligation for all companies and be regulated as such in all countries. It is one of the most important actions in the fight against climate change where countries and laws should adapt to innovation in any type of sector and bet on the use of new technologies. "
Likewise, the CEO of the Valencian green firm adds that "we are currently extrapolating and expanding the project to other sectors, implementing it in ports, educational centers, industry ... and adapting it according to the needs of each client, whether through projects of self-consumption, isolated installations, solar pumping, large-scale photovoltaic or wind projects, considering energy efficiency as a base element Our platform is in continuous development and can cover any measurable energy variable (CO2, KW, m3 water certificates ...) for certification, traceability and exchange ".
It should be remembered that Rodríguez herself reminded Valencia Plaza a couple of months ago that they are "working on a project for the port authorities and specifically for the Port of Valencia, which does not only include the tokenization of CO2 savings but also surpluses of kilowatt per hour and thanks to our platform based on blockchain technology we can share them between the different users of the port facilities, compensate them or even sell them in the electricity market. " GreenB2e is also developing a portfolio of photovoltaic and wind projects in various regions of Spain, whose cumulative power exceeds 100 MW.
