The challenge

According to the UN, the world must cut carbon emissions by 50% from 2010 by 2030 and achieve net-zero economies by 2050. The 2021 Tracking SDG7 Energy Progress Report states that today's rate of progress is insufficient. The world is not on track to achieve SDG 7. Companies need to adopt a 24/7 Carbon-Free Energy strategy that will help them understand their energy data portfolio to proactively eliminate carobon emissions in the grid. Hyper wants to tackle the proble of reducing corporations' emissions associated with electricity/energy consumtion (Scope 2) to help reach carbon neutrality. Electricity metering data is the new “gold” of the energy transition in terms of being able to run a 24/7 Carbon-Free Energy procurement strategy. However, obtaining access to such data is not easy: expensive investments and high maintenance costs for hardware devices, data interfaces as well as tedious negotiations with electricity suppliers are some of the traditional barriers.

The solution

Hyper is a software tool that enables corporations to achieve a fully decarbonised grid by pursuing a 24/7 Carbon-Free Energy procurement strategy. Corporate energy buyers will be able to easily source all their energy-related data and certificates without manual interaction with third parties or the need for installing additional hardware devices. Energy managers would be able to visualize that data and informationin Hyper, or feed the information into the existing software of the company, if needed. How it would work: 1. Energy consumption data collection - a company sends us its list of consumption sites, including metering codes. Provide us with access to consumption data. Data can be collected through a. importing data stored in the existing ERP system b. collecting energy consumption data through APIs with data hubs (e.g. UDPs) and grid operators 2. Energy Certificate Collection - The software collects all the Energy Attribute Certificates claimed by the company. They are collected from: a. a national registry b. via a 3rd party, depending on the given country’s regulation Thus avoiding the manual interaction with certificate registries, energy suppliers or 3rd parties. I want to enable grid operators to pull data from renewable energy producers and to create a certificate of the respective energy unit being produced. This is then matched against the respective corporate’s power consumption. Then I want to record this time-based energy transaction on a blockchain acting as a secure notary of all transactions, making reliable information easily accessible to internal and external stakeholders. The nature of the electrical grid makes it physically impossible to claim that an electron coming out of a socket is produced by carbon-free sources. Hence, the introduction of Energy Attribute Certificates (EACs) that label the flow of electricity with unique characteristics and enable consumers to choose their preferred energy source. The EAC certifies for one megawatt hour of electricity the production site - which with itself implies location and technology type - and the month in which it was produced. EACs are traded on a yearly basis across market participants up to the final consumer that can use them to prove to sustainability standards its carbon-free energy achievements within 16 months from the creation of the EAC. However, because the sun doesn’t shine and the wind does not blow every day a higher granularity of the EAC data is necessary if the goal is to run on carbon-free energy every hour of the day. I want to create the digital infrastructure that would make it possible to have hourly EAC in order to accurately represent the way power is produced and consumer across the organization. The data would be stored on a blockchain as an immutable ledger highly feasible for such a challenge as frequent data transfers will take place all the time. 3. Data analysis and disclosure of your environmental insights - being able to provide a ready-to-report KPIs, such as: a. location-based emissions b. market-based emissions c. share of renewable energy coverage d. the quality of your energy certificates, by considering location, technology type and age of the plant the company is using as a supplier Companies will be able to regularly view their progress in terms of global renewable energy and CO2 emissions. Customers would also be able to track their PPAs, on-site energy production and other sources that a company is using. 4. Access can be granted to auditors, with all disclosure on blockchain - the use case of blockchain here will be that that it is going to act as a digital notary that ensures the credibility and authenticity of information shared with external and internal stakeholders. thus, the company is also able to avoid simultaneous data entries and human errors. Furthermore, companies can leverage that information to report on their performance and share achievements in terms of 2 emission reduction with stakeholders.

Mission

Building products that are useful and improve people's lives.