NEW YORK--(BUSINESS WIRE)--EarnDLT®, the leader in transferring compliant and auditable product attribute data across commodity value chains, today announced the opening of a European-based affiliate in Lisbon, Portugal. This strategic decision will further enable European industrial chemical and material recycling companies to comply with EU regulations, including the EU Methane Regulation, the Carbon Border Adjustment Mechanism (CBAM), and the EU Battery Regulation, by collecting, measuring, and securely transferring primary product carbon footprint (PCF) data via the Quantified Emissions Token® (QET).
EarnDLT’s continued expansion in Europe also seeks to increase demand for its North American-based customers’ QETs. North American upstream and midstream companies rely on the QET to store and transfer their validated, compliant environmental, social, and governance (ESG) data to complement the feedstocks used in the production of exported products like LNG and methanol, ultimately delivered to buyers in the EU.
EarnDLT’s Quantified Emissions Token is an innovative Environmental Attribute Certificate (EAC) that acts as a “nutrition label” containing ESG data that has been independently measured and verified in compliance with leading global standards. By creating and storing these digital tokens on a private, enterprise-grade blockchain, EarnDLT allows for the easy, tamper-proof, and auditable transfer of this data from source to the final end product. Today, EarnDLT works with numerous differentiated natural gas producers, chemical manufacturers, and downstream buyers, and is rapidly delivering this solution to additional sectors.
“The European Union is leading the way with the implementation of more stringent regulations requiring measurement-based quantification, reporting, and verification (MRV) of origin data and carbon footprints for feedstocks coming into the region,” said Aaron Lohmann, CEO and Co-founder of EarnDLT. “By expanding EarnDLT’s existing presence in the EU, we will provide even more companies with the validated, compliant origin and attribute data they need, while expanding commercialization opportunities for our US-based QET producers.”
EarnDLT has appointed industry expert Claas Greger as its European CEO. Greger brings extensive experience from the chemical industry, both from manufacturing and distribution, and has a deep understanding of the challenges and opportunities the industrial players in Europe possess.
“Many companies perceive the EU’s multitude of regulations as an additional administrative burden, but we believe this legislation can provide companies with a great opportunity for differentiation,” said Claas Greger, European CEO at EarnDLT. “I am looking forward to helping our customers monetize the hard work and significant investments they have made to improve their ESG profiles. Whether it is for the chemicals industry, bio-fuels, or other industrial applications, our tool will provide frictionless transfer of origin and attribute data to facilitate compliance and Scope 2 and 3 reporting.”
About EarnDLT:
EarnDLT is an enterprise software company offering chemicals, energy, and commodity producers a new way to meet all leading regulatory reporting requirements while monetizing their product’s superior ESG performance. EarnDLT’s innovative, blockchain-based solution digitizes a producer’s independently measured and validated primary emissions data, and then enables efficient and trustworthy transaction and retirement of that data for Scope 1, 2, and 3 reporting purposes.
Today, EarnDLT tokenizes commodities at the production-level across diverse energy types, including natural gas, methanol, and carbon sequestered gas, for more than 30 leading energy producers and operators. Their solution can also be applied to other industries, such as chemicals, metals, agriculture (e.g., low-carbon fertilizers) and automotive.
For more information please visit www.earndlt.com or @EarnDLT on LinkedIn.
