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ENECHANGE joins the 24/7 Carbon Free Energy Compact, a UN-led international initiative

ENECHANGE Ltd. (Head Office: Chuo-ku, Tokyo; CEO: Tomoya Maruoka) announces that it has joined the 24/7 Carbon Free Energy Compact (24/7 CFE Compact), an international initiative established by the United Nations in 2021 to decarbonize electricity. ENECHANGE is the seventh Japanese company to join.

The 24/7 CFE Compact

The 24/7 CFE Compact*1 is an international initiative to realize and promote 24/7 Carbon Free Energy(24/7 CFE), which aims to match every hour of electricity consumption, on every energy grid globally, with carbon-free sources of electricity production. It includes membership from the US federal government, major US IT companies such as Google and Microsoft, educational institutions such as Stanford University, energy companies, financial institutions, and more than 160*2 organizations worldwide.

ENECHANGE has consistently been committed to working towards a decarbonized society. In June this year, we announced our “eValue Platform”*3, which enables the management of renewable energy certificates on an hourly basis. The eValue Platform is a SaaS service that centralizes renewable energy certificate management operations for energy companies, mainly by automating the management of customer data, renewable energy certificate inventory, matching, and customer notifications, thereby promoting greater efficiency in energy company business operations.

The eValue Platform can handle the scale of a major energy company and is capable of handling a variety of customer plans, including regional plans. The eValue Platform is a solution that meets the five principles of the 24/7 CFE Compact..

In addition to supporting cost savings when switching electricity and gas companies for corporate customers,, ENECHANGE Biz will also offer renewable energy certificates management services. This will simplify operations that would otherwise become complex to accommodate diverse initiatives, through the management of the purchase, inventory, and matching of renewable energy certificates, thereby facilitating the reduction of Scope 2 emissions.

ENECHANGE actively participates in the 24/7 CFE Compact initiative and contribute to the realization of carbon neutrality by 2050 by developing systems and creating solution businesses to achieve 24/7 CFE.

*1. 24/7 Carbon Free Energy Compact ( https://24-7cfe.com/ )
*2. As of September 2, 2024, according to our own research ( https://24-7cfe.com/ )
*3. eValue-Platform ( https://enechange.co.jp/e-value_pf/ )

 

The five principles of the 24/7 CFE Compact for member companies*4

  • Time-matched procurement: matching hourly electricity consumption with carbon-free electricity generation. Hourly matching helps connect clean energy purchasing to underlying electricity consumption.
  • Local procurement: purchasing clean energy on the local/regional electricity grids where electricity consumption occurs. This is the only way to drive the electricity-related emissions that a consumer is directly responsible for to zero.
  • Technology-inclusive: recognizing the need to create zero-carbon electricity systems as quickly as possible. All Carbon Free Energy technologies can play a role in creating this future.
  • Enabling new generation: focusing on delivering additional Carbon Free Energy to drive the rapid decarbonisation of electricity systems.
  • Maximizing system impact: addressing the dirtiest hours of electricity consumption where the most fossil fuel is used in generation.

*4. Principles of 24/7 Carbon-Free Energy（ https://gocarbonfree247.com/the-movement/ )

Comments from Tomoya Maruoka, CEO, ENECHANGE Ltd.

As the only climate tech listed company in Japan, ENECHANGE has consistently committed to decarbonization efforts. In June 2024, we launched the “eValue Platform,” a SaaS platform which allows utilities and consumers to manage renewable energy and associated certificates with hourly tracking capabilities. This innovation supports the transition to a 24/7 CFE grid in Japan. Our recent membership in the 24/7 CFE Compact underscores our further commitment to carbon neutrality. By aligning with the principles of the 24/7 CFE Compact, we aim to leverage advanced technology to lead and promote carbon-neutral initiatives across Japan.

ENECHANGE Ltd.

ENECHANGE is an energy technology company that promotes a net zero society through digital technology with the mission of Changing Energy For A Better World. We offer services based on data utilization in the 4Ds of Energy: Deregulation, Digitalization, Decarboniation, and Decentralization. Our company’s roots come from an energy data lab at the University of Cambridge, UK, a country where liberalization is mature. ENECHANGE has a UK subsidiary, ENECHANGE Innovation Limited, as well as a global network and analytical technology for energy data.

URL: https://enechange.co.jp/en/

 

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