EDF, REDEX, And Rekursive Labs Launch Blockchain-Based Renewable Energy Certificate Recording Project
Milestone Date: November 29, 2023
Électricité de France (EDF) — a global electricity producer and Europe's largest renewable energy producer — has successfully concluded a proof-of-concept (POC) in collaboration with REDEX, a leading Renewable Energy Certificates (RECs) solutions provider, and Rekursive Labs, a specialist in enterprise Web3 distributed ledger technology (DLT) solutions.
The project relies on the open-source Guardian ESG platform, an API-driven turnkey solution that uses blockchain to make public, transparent, and international standards-compliant records of ESG-related assets (RECs, carbon credits, etc.) and activities (e.g., carbon production).
By automating the issuance and redemption of RECs, the project empowers end consumers to retire small quantities of certificates in real time, allowing individuals to actively influence the renewable energy market. The effort seeks to enhance efficiency and transparency in the renewable energy sector. Électricité de France (EDF), REDEX, and Rekursive Labs plan to refine the solution, explore new use cases, and extend automated REC services to global producers and consumers of renewable energy.
Leveraging EDF's MASERA Microgrid demonstrator in Singapore, this proof-of-concept successfully showcased the automated redemption of tokenized RECs at electric vehicle charging stations.
The Guardian ESG platform, which insulates organizations like the EDF from the complexity of minting ESG-related tokens that comply with international standards, relies on the Hedera Consensus Service (HCS) consensus-as-a-service (CaaS) offering to make a record of ESG-related assets and activities using public blockchain technology. A CaaS solution makes it possible for applications of all types to benefit from the trustworthy, decentralized consensus algorithms that are one of public blockchain’s key unique value propositions.
By Elizabeth Morrison
Published:November 29, 2023