ENGIE Vitality Advertising to Set up a New Class of Know-how-based Carbon Credit attributed to Carbon Sequestration

Key Highlights: 

  • ENGIE Vitality Advertising NA, Inc and BKV Company will develop a framework and advertising program to develop a brand new product for an rising U.S. market on Carbon Credit related to measured Carbon Sequestration.
  • Venture Canary, the unbiased information and evaluation supplier, will reconcile sensing applied sciences and measure, analyze, and report the environmental attributes of the sequestrated Carbon to help decarbonization.

HOUSTON, Nov. 11, 2022 /PRNewswire/ — ENGIE Vitality Advertising NA, Inc (“EEMNA”), a subsidiary of ENGIE North America, publicizes it’s going to develop a framework and advertising platform for sourcing measured Sequestrated Carbon in establishing a brand new class of differentiated technology-based Carbon Credit. 

EEMNA entered right into a letter of intent with BKV Company to construct this framework for verifiable environmental attributes with the usage of carbon credit. The framework consists of two approaches alongside the worth chain. BKV will measure, cut back, and confirm emissions utilizing the most recent operational enhancements and applied sciences, together with steady emissions monitoring whereas additionally utilizing RSG fuel. Secondly, BKV will ship Sequestrated Carbon Credit to EEMNA beneath an outlined framework for advertising to help improvement of a brand new and rising market.

The worth chain for sourcing measured Sequestrated Carbon Credit requires a dependable information associate. Venture Canary will present verifiable information and evaluation using their Canary SENSE Platform™ which reconciles sensing applied sciences, together with third social gathering sensors, and consists of measurement, reporting, and validation of methane depth and the carbon emissions footprint of upstream, midstream, and carbon seize use and sequestration amenities. EEMNA and BKV plan to have interaction different third events and educational establishments to overview and confirm the framework.

EEMNA considers this initiative a primary differentiated providing and the start of an rising U.S. market through which an LNG purchaser, fuel utility, energy utility, or different end-user should purchase measured and verified sequestrated carbon credit from a single, trusted firm. This degree of transparency is essential for the vitality transition. 

“EEMNA was a primary mover in recognizing the worth of RSG primarily based upon quantified methane intensities and necessary environmental attributes. With this initiative, we’re proud to push the marketplace for licensed, and auditable decarbonization targets ahead,” mentioned Ken Robinson, President of ENGIE Vitality Advertising NA, Inc. “Reaching a real internet zero carbon goal requires a whole transformation of the vitality system, which is why we’re dedicated to taking the following transitional step with the event of measured sequestrated carbon credit.” 

“The flexibility to develop a brand new vitality framework in direction of internet zero, requires excessive constancy information, revolutionary expertise, and the precise leaders,” mentioned Chris Romer, Venture Canary Co-founder and CEO. “At this time’s vitality economic system calls for a cleaner, higher means of manufacturing, transporting, and shopping for vitality. We’re proud to assist put this primary commerce collectively by delivering the transactable environmental information for this transformative deal.”

BKV’s pure fuel commodity can have a whole, independently measured emissions profile, together with one of many first everlasting U.S. industrial and industrial geologic sequestration tasks. Scheduled to come back on-line in late 2023, it entails the injection of CO2 right into a permitted facility owned by BKV in Texas.

“Evolving a long-established market is not easy, however we imagine that progress requires revolutionary partnership to realize internet zero, and proof of efficiency,” mentioned Chris Kalnin, CEO & Founding father of BKV Company. “We’re dedicated to creating an developed market and framework that solves a fancy downside.” 

These new methodologies will assist to measure and compute whole emission footprints to satisfy new and rising worldwide requirements for methane depth and environmental elements. EEMNA, BKV, and Venture Canary are dedicated to constructing this developed market and establishing the verifiable information to underpin it.

About ENGIE

EEMNA is a subsidiary of ENGIE North America. Based mostly in Houston, Texas, ENGIE North America Inc. is a regional hub of ENGIE, a worldwide chief in low-carbon vitality and companies. ENGIE (ENGI), is listed on the Paris and Brussels Inventory Exchanges. Along with our 101,500 staff across the globe, our clients, companions and stakeholders, we’re dedicated to speed up the transition towards a carbon-neutral world, by means of decreased vitality consumption and extra environmentally pleasant options. Impressed by our function (“raison d’être”), we reconcile financial efficiency with a optimistic affect on individuals and the planet, constructing on our key companies (fuel, renewable vitality, companies) to supply aggressive options to our clients. In North America, ENGIE helps our shoppers obtain their vitality effectivity, reliability, and in the end, their sustainability objectives, as we work collectively to form a sustainable future. We accomplish this by means of: vitality effectivity tasks, offering vitality provide (together with renewables and pure fuel), and the event, development and operation of renewable vitality property (wind, photo voltaic, storage and extra). For extra info on ENGIE North America, please go to our LinkedIn web page or Twitter feed, www.engie-na.com and www.engie.com.

About BKV

Headquartered in Denver, Colorado, BKV Company (BKV) is a privately held, forward-thinking, growth-driven, vitality firm that seeks to ship low-impact, sustainable vitality to the group. BKV’s core enterprise is to provide pure fuel from its owned and operated upstream companies. Based in 2015, BKV has roughly 400 staff throughout the U.S. which can be dedicated to constructing a unique sort of vitality firm. BKV is among the prime 20 gas-weighted pure fuel producers in the USA and the most important pure fuel producer within the Barnett Shale. BKV Company is the father or mother firm for the BKV household of firms. For extra info, go to www.bkvcorp.com.

About PROJECT CANARY

Venture Canary® is an environmental information and software program firm that collects, analyzes, quantifies, and visualizes asset-level environmental threat assessments and emission profiles. As a measurement, reporting, and verification (MRV) resolution, the Canary SENSE Platform™ integrates a networked sensor cover, together with third social gathering sensor information and evaluation scores, to offer independently verifiable local weather attribute information for upstream, midstream, and CCS (carbon seize and sequestration) tasks. Venture Canary’s insights assist vitality organizations enhance efficiency, handle dangers, and ship auditable decarbonization information. Fashioned as a Public Profit Company, the U.S. Colorado-based group consists of scientists, engineers, and trade operators centered on the trail to True Zero™. www.projectcanary.com

Media Contacts:

ENGIE North America: Michael Clingan, +1 (832) 745 6057, [email protected]
BKV Company: Becky Escott, +1 (940) 536-0359, [email protected]
Venture Canary: Rachael Shayne, +1 (303) 968-1702, [email protected] 

SOURCE ENGIE North America

Supply hyperlink

Leave a Reply

Your email address will not be published. Required fields are marked *