CALGARY, Alberta & HOUSTON--(BUSINESS WIRE)--Validere, a leader in bringing commodity data transparency to the energy industry, today announced the completion of a partnership with GuildOne Inc. (GuildOne), a pioneering technology company, to create new digital assets for balancing energy needs with emission reductions.
Under the partnership Validere will immediately start validating carbon captured by select industry clients. This audit trail on sequestered carbon volumes will then be connected to other consortium partners for the purposes of verification on a client-by-client basis, and then to GuildOne’s blockchain platform for the purchase of carbon offset credits by global entities interested in lowering emissions and meeting targets.
“We’ve always had a lot of respect for the GuildOne team and it’s exciting to formally partner. They share our view of the critical importance of the energy supply chain, and that better data and tools can immediately drive economic and environmental improvement,” said Nouman Ahmad, co-founder and CEO, Validere. “Our customers have always been fully aligned in measuring and reducing their impact and this is an additional way we can help support markets to incentivize and accelerate these emission reductions. Partnerships such as this are critical in accelerating carbon capture.”
“This once again demonstrates the potential of blockchain technology, where data-intense software companies such as Validere and their clients are interested in connecting primary data sources for the creation of new assets that drive global emissions reductions,” said GuildOne CEO James Graham. “Validere creates great primary data audit trails from industry instruments and data sources, and the blockchain component from GuildOne now allows that data to be shared with counterparties in a way that significantly reduces friction.”
Validere helps more than 40 producers, midstream, and downstream energy companies consolidate their commodity inventory data into a single repository, so they have a detailed “genealogy” of every molecule as it progresses through the energy supply chain.
Validere is a leading data and analytics SaaS provider that is digitally transforming the world’s largest supply chain to be more sustainable and efficient. Our Product Data Cloud enables energy companies to aggregate all commodity inventory data into a complete, accurate, and auditable repository that allows them to create a real-time digital fingerprint of the molecule. Using this single-source-of-trust and our digital infrastructure models, energy professionals across operations, commercial, and ESG functions can now quickly make data-driven decisions on a daily basis. By partnering with us, business leaders leverage our unique datasets as well as our experts in data science, physical science, and oil and gas to create a company-wide value engine. As a result, more than 40 of North America’s leading energy companies now realize the full value of their commodities through higher commercial margins, reduced operational costs and risks, and meaningful ESG progress.
GuildOne leverages the power of advanced blockchain infrastructure and applications to build a sustainable, optimized and trusted future for the global energy industry. Working with the world’s largest oil and gas companies and technology partners including R3 and AWS, the company's pioneering smart contract technologies and secure networks are transforming how the industry transacts, shares data and creates value. Uniting product intelligence with blockchain traceability and digital assets, GuildOne is developing the automated foundation for the next generation of verified carbon credits.