The Spanish company took three years to complete the blockchain project for ecological purposes.
Greenb2e is a Spanish company that has developed a project which seeks to turn the use of clean energy into tokens so that, in this way, it can promote ecological ideas and actions within the business and industrial sector.
According to data published by some local media, Spanish energy companies now trade their energy surpluses using other alternatives, as well as rewarding with considerable tokens the considerable decrease in electricity or replacement of polluting energy by renewable energy, using a blockchain platform.
The central idea of the project that Greenb2e seeks to lead is to replace, in a considerable way, all the energy produced by pollutants, such as those generated with diesel, oil or coal, with green energy sources produced by more pleasant methods for the environment.
In this way, the Spanish company has managed to create a method to convert all CO2 emissions that are not sent to the atmosphere into tokens, as well as calculate the energy leftover from industrial activities in national companies, convert them into digital assets and sell them to third parties.
According to data offered by the Spanish company, the project began its development three years ago, adding its participation in the Bankia Fintech Insomnia Accelerator. During the development of the tool, they managed to calculate and measure, with a blockchain system, the excess energy of each of the companies they used as an example.
After this calculation process, they will use Stockmind, a Bankia platform to convert the remaining energy, generated by saving electricity, CO2, among other resources, into easily negotiable tokens.
The tokens created using this energy are also called “green certificate”. Shortly, they can be presented in a specialized market for energy surpluses. Within this market, buyers, who are usually companies dedicated to the sector, can buy these tokens to compensate for their excesses of greenhouse gas generation and support efforts to reduce the impact it generates to the planet. On the other hand, the company that generates these tokens can obtain profits produced by actions that preserve the environment.
Project Tests Were Successful
Two months before the publication of the launch of this ecological solution, Greenb2e carried out concept tests in a vineyard located in Argamasilla de Alba, in Spain. During this test, the replacement of electricity-generating pumps with diesel fuel was used, which allowed extracting the water used for irrigation systems, by solar panels that allowed the same action. In this way, it was possible to create tokens for every ton of CO2 that was saved and avoided being thrown into the atmosphere.
This project generated the immediate attention of the World Bank (WB), which invited Bankia to be part of the initiative. This project showed its progress in Madrid during the Climate Summit 2019, which was applauded by the participants.
Besides, Greenb2e decided to inform that at this time they are developing other similar projects that will seek to create more impact on green solutions for companies. During the announcement, representatives of the company commented that they are creating a similar system for the port of Valencia, which will also calculate the surplus of the energy used to convert it into tokens, but with the difference that it will allow the port to send part of that surplus energy to some users or port facilities that are close to the port.
The Spanish company said enthusiastically that they are working to improve this project so that it can be adapted to other types of companies or institutions such as schools or ports. They also stated that they commit renewable energy and the future of the planet.
By María Rodríguez
