CarbonClear, Innovex partner to issue data-driven carbon credits from off-grid solar
Rachid Jabbar of CarbonClear
CarbonClear has announced a partnership with Innovex, a technology firm based in Uganda, which designed and built ‘REMOT,’ an IoT platform. This partnership aims to modernise the way off-grid solar installations contribute to global climate effort.
This collaboration will empower Innovex’s partners to issue carbon credits from their off-grid solar installations. By harnessing CarbonClear’s data-driven carbon credit standard, Innovex will bring transparency and accountability to carbon offset market.
CarbonClear’s carbon avoidance programme, and its underlying distributed ledger infrastructure, will serve as the foundation for this partnership. Through an IT integration with its monitoring software, Innovex will enable its users to seamlessly generate micro carbon avoidances (MCAs) from the off-grid solar installations that they operate. These MCAs will then be available to corporate buyers looking to offset their CO2 emissions.
The carbon calculations used in this process are based on an established UN clean development mechanism (CDM) methodology and are third-party verified by DNV. This ensures the highest level of integrity and credibility in the carbon credits issued.
The ‘REMOT’ IoT platform is being used across 8 countries in Africa by over 64 solar businesses in the Solar for Productive Used space (PUE). These businesses distribute solar systems and equipment such as solar water pumps, solar maize mills, cold storage units to mention but a few. Apart from remote performance monitoring of these assets, ‘REMOT’ is bringing ‘smart’ Pay as you Go technology in the PUE (power usage effectiveness) space.
This partnership between Innovex and CarbonClear represents a step forward in climate finance. By offering a practical, data-driven solution for issuing carbon credits, the two companies are not only advancing the affordability of high-quality products but also fostering positive impacts on local communities.
Rachid Jabbar, COO and co-founder of CarbonClear, expressed his excitement about the partnership, stating, “Working with Innovex to develop and implement mechanisms for climate finance has the potential to unlock much-needed capital streams for those involved in the off-grid sector. Doing so programmatically, in a data-driven manner, will add robustness and integrity to the climate market, directing climate funds where they are most needed, in a results-based and traceable fashion.”
Innovex and CarbonClear are committed to addressing the dual emergency of climate change and energy access. Their partnership represents a leap forward in the effort to bring clean, renewable energy to the more than 700 million people currently living without access to electricity.
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