CarbonClear and Innovex Partners to Issue Data-Driven Carbon Credits from Off-Grid Solar

CarbonClear enables Innovex users to seamlessly generate Data-Driven Micro Carbon Avoidances (MCAs) from off-grid solar installations.

COPENHAGEN, Denmark, Sept. 4, 2023 /PRNewswire/ -- CarbonClear, a data-driven carbon credit standard, is proud to announce a strategic partnership with Innovex, a technology firm based in Uganda that designed and built 'REMOT' a leading IoT platform. This partnership aims to revolutionize the way off-grid solar installations contribute to the global climate effort.

This collaboration will empower Innovex's partners to issue carbon credits from their off-grid solar installations, a first in the industry. By harnessing the power of CarbonClear's unique data-driven carbon credit standard, Innovex will bring unprecedented transparency and accountability to the carbon offset market.

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CarbonClear's groundbreaking 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 also a first in bringing 'smart' Pay as you Go technology in the PUE space.

This partnership between Innovex and CarbonClear represents a significant 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.

About CarbonClear

Denmark-based technology company CarbonClear, formerly Solstroem, was founded by Karim Jabbar and Rachid Jabbar in 2018, and creates carbon finance for sustainable impact through renewable and circular capacity building. Neither a SaaS nor a digital marketplace, the CarbonClear model is a tech-powered carbon value chain that aggregates big data from data points implemented in carbon projects and issues third-party verified, traceable carbon credits that instantly become available to global buyers. The company already has partnerships with some of the largest distributors of solar home systems in Africa and the Americas, such as SunKing, ENGIE Energy Access, Zola Electric, and iluméxico, and is developing a further three technology streams; Clean Cooking, Waste to Energy, and Sanitation.

SOURCE CarbonClear