SAN FRANCISCO & NEW YORK & SYDNEY--(BUSINESS WIRE)--Solidia Technologies® and Xpansiv CBL Holding Group (XCHG) are developing a new asset class of tradable digital products that provide immutable proof of superior environmental provenance. These products will enable companies and municipalities to quantify, verify, and claim the carbon, energy, and water benefits of Solidia Cement™, Solidia Concrete™, and other environmentally beneficial technologies.
XCHG will capture data generated by each step of Solidia’s cement and concrete manufacturing processes. The data will be audited and verified by a third-party standards organization and then translated into Digital Feedstock™, a standardized digital format that combines data science, cryptography, and distributed-ledger technologies to securely track and transfer source data.
The XCHG platform provides transparency, enabling market participants to bundle and transact critical environmental data—traceable from source to market—in conformance with established data and quantification protocols.
Cement is the “glue” used to make concrete. Conventional production of every ton of cement releases approximately one metric ton of CO2 equivalent (mtCO2e) into the atmosphere, making cement production responsible for up to 8% of annual global greenhouse gas emissions. Solidia’s technology starts with a low-emissions cement, then cures concrete with CO2 instead of water, reducing the carbon footprint up to 70%, compared to conventional concrete.
“Solidia and XCHG are pioneering a new frontier in the cement industry,” said Jeff Cohen, XCHG Director of Sustainability Development. “Digital Feedstock enables market participants to transact the true value of Solidia Cement by digitally certifying its lower-carbon and lower-water attributes. For the first time, large-scale industrial consumers will be able to seamlessly connect sustainability ambitions with procurement decisions, demonstrating their actions to customers and shareholders.”
“There is plenty of talk about carbon-footprint reduction, but we can prove it,” said Solidia CEO Tom Schuler. “Our technologies allow precise measurements of carbon-emissions reductions in the production of Solidia Cement, and carbon consumed in the curing of Solidia Concrete. Translating that data into Digital Feedstock will wholly disrupt the way the cement industry meets consumer demand for accountability and sustainability, while introducing a new, quantifiable, transactable source of value to the global concrete industry.”
The XCHG platform powers a future in which environmental impact drives value and business performance. Digital Feedstock helps propel the transition to a low-carbon economy by creating new value for low-impact commodities, benefitting manufacturers of advanced technologies and products, as well as their customers, shareholders, lenders, and insurers. The new asset class is designed to provide organizations across the value chain with verifiable metrics that connect back to the raw materials that feed global supply chains. Both XCHG and Solidia are part of BP Ventures’ portfolio of investments, as part of BP’s focus on large-scale decarbonization.
“Combining XCHG and Solidia technologies will create a unique, low-emissions digital fingerprint for future cement and concrete production,” said David Hayes, BP Ventures Chief Investment Officer. “Bringing together two of our portfolio companies is a great example of how BP Ventures is fostering innovative new energy businesses that will support—and accelerate—the transition to a low-carbon economy.”
“This will be a game-changer for environmental, social, and governance (ESG) metrics in the cement industry,” Schuler said. “By packaging the impact data in a transactable format, we’re providing a clear path for market participants to claim the sustainable benefits of our products in a way that makes sound financial sense in today’s resource-constrained world.”
About Solidia Technologies
Solidia Technologies is a cement and concrete technology company that makes it easy and profitable to use CO2 to create superior and sustainable building and construction materials. SolidiaTech.com
About XCHG
Xpansiv CBL Holding Group (XCHG) is the world’s first commodity exchange built for a new asset class: data. We bring transparency to the market by recording real-world characteristics in an immutable profile, empowering informed decision-making and commodity differentiation. As a result, commodities can be valued based on vital information that was invisible—until now. XCHG.net
About BP Ventures
BP Ventures invests in private, high-growth, game-changing technology companies, accelerating innovation across the entire energy spectrum. BP has invested more than $500 million in technology companies across more than 50 entities with more than 300 co-investors. www.bp.com/en/global/bp-ventures.html
