On-Chain Carbon Solutions Provider KrypC Onboards Solar Power Leader onto CarbonCore Platform
Amana Solar selects KrypC to launch an end-to-end carbon-offset solution on the Hedera public distributed ledger
Edison, NJ — 14 July, 2022 – KrypC, a global technology company automating carbon offset creation and distribution, today announced that Amana Solar has selected CarbonCore, a solution running on the carbon-negative Hedera network that aims to make carbon trading markets more reliable, efficient, and inclusive.
CarbonCore stores, tracks and distributes carbon credits, and acts as an end-to-end carbon offset marketplace where industrial supply and demand meet. The application can be integrated with existing platforms to allow carbon emitters to easily purchase carbon offsets, and enables environmental projects to provide carbon credits to the market through a streamlined tokenization and minting process.
Amana Solar, a global leader in the installation of rooftop solar power, will work with KrypC and CarbonCore to develop advanced, highly granular Renewable Energy Credits (RECs), enabling the efficient tracking and offsetting of carbon emissions. Their critical strategic goal for the partnership is to utilize the CarbonCore market to issue their own Renewable Energy Certificates (RECs).
Riad Bsaibes, president and CEO of Amana Investments, said: “Amana is passionate about bringing efficient solar energy to our customers, and with the help of CarbonCore, we can go even farther. CarbonCore has streamlined the process of tokenizing carbon offsets, and we look forward to entering the fast-growing Web3 space to bring further innovation to the regional solar energy market.”
Ravi Jagannathan, Founder and CEO at KrypC, said: “A key part of KrypC’s mission is to help industry leaders like Amana and other enterprise customers of KrypC by building, deploying, and managing innovative distributed ledger solutions. CarbonCore, built on the Hedera network, is a ledger for creating the trust chain for the underlying VCUs/VERs/iRECs. By onboarding Amana and other enterprises to CarbonCore, we help large enterprises to go even further in their ESG journey to confidently offset, decarbonize and make a lasting impact on the global climate challenge.”
CarbonCore has been funded through a partnership with the HBAR Foundation’s Sustainable Impact Fund, created to provide funding for various Hedera-based solutions centered on environmental sustainability. KrypC’s decentralized architecture has capabilities for building tokenized assets markets on the network — significantly reducing the time for projects and developers to build on top of the network.
Wes Geisenberger, Vice President of the HBAR Foundation, said: “The HBAR Foundation Sustainable Impact Fund was created with a strategic goal of fostering transparency and accountability in environmental markets. We are excited to support the new partnerships that CarbonCore is building with Amana, and their customers, who have a wealth of knowledge in the industry. We are excited that KrypC and Amana share our values in bringing the balance sheet of our planet to the public ledger.”
For more information, please contact:
Cryptoland PR for HBAR Foundation
KrypC is a technology company that has partnered with industry experts on carbon offsets and the respective marketplace to release CarbonCore. Their team members have vast knowledge in the sphere of the ever-growing carbon market and help their customers to follow every protocol. KrypC helps empower enterprises with the project registration, development, monitoring, reporting, validation, and overall project management for the carbon listing process to enhance the credibility and verification of the data. For more about KrypC and CarbonCore, head to carboncore.krypc.com.
About Amana Solar
With almost five hundred thousand square meters of industrial buildings and associated rooftops constructed yearly, Group AMANA is an undisputed partner for rooftop solar power plants. The Company is one of the first contractors approved by DEWA (Dubai Electricity and Water Authority) to provide Solar Energy Systems Installation and Maintenance Services since early 2015. This classification coupled with Amana’s personnel certified by DEWA as “Solar PV Expert” makes Amana Solar the natural choice for designing, installing and maintaining your roof-mounted solar power plants. For more information, please visit https://www.groupamana.com/.
The Hedera network is the most used, sustainable, enterprise-grade public ledger for the decentralized economy. The platform is governed by a council of the world’s leading organizations, including Avery Dennison, Boeing, Chainlink Labs, DBS Bank, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology (IIT), LG Electronics, Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, Ubisoft, University College London (UCL), Wipro, and Zain Group.
For more information, visit www.hedera.com, or follow us on Twitter at @hedera, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/papers.
About the HBAR Foundation
Founded in 2021, the HBAR Foundation fuels the development of the Hedera ecosystem by providing grants and other resources to developers, startups and organizations that seek to launch decentralized applications in DeFi, NFTs, CBDCs, sustainability, gaming and other sectors. In addition to providing funding through a streamlined grant process, the HBAR Foundation acts as an integrated force multiplier through expert support across technical, marketing, business development and other operational functions that are required to scale. For additional information, please visit https://hbarfoundation.org/ or follow the Foundation on Twitter @HBAR_foundation.