ENGIE & ATEC sign landmark multi-country digital MRV carbon credit agreement

ATEC and ENGIE's business entity "Global Energy Management & Sales" (GEMS) – the energy management and sales division of the ENGIE Group – have signed a long term agreement to purchase up to 11.5m tons of Gold Standard Digital MRV carbon credits from Bangladesh and Cambodia utilising ATEC's patented IoT eCook devices. This is the first major deal signed under Gold Standard's new metered methodology - recently rated as the most accurate of all cookstove methodologies by University of Berkeley. 

"Digital verification of carbon credits through device data is the only long term solution for building trust in voluntary carbon markets - as a sector we must ensure a ton is a ton," says ATEC CEO Ben Jeffreys, "ATEC's hardware, software and data solution make digitised carbon credits for household devices such as electric cookstoves traceable, commercially feasible and technologically scalable. This partnership with ENGIE heralds the next phase of verifiability and trust in carbon credit markets."

Jerome Malka, Excom member at ENGIE GEMS comments "ATEC has a long standing relationship with the Engie group and we are proud to continue supporting them in expanding the reach of their modern cooking solutions. Digital MRV data will provide our customers with the highest level of integrity regarding carbon accounting, while ATEC's solution will also greatly improve health conditions of households in Bangladesh and Cambodia."

ATEC's patented eCook stove is a global first that accurately tracks usage on each device, aggregates this through a sim-card IoT integration and plans to convert these into certified Gold Standard credits through SustainCERT's digital MRV (dMRV) software. All credits can then be tracked in real-time by buyers like ENGIE through ATEC's carbon dashboard.

"Digital innovations, such as ATEC's eCook devices will significantly improve the reliability, efficiency and credibility of monitoring systems - and combined with digital verification are emerging as key drivers to scaling carbon markets with integrity." Says Marion Verles, CEO of SustainCERT.

"I'm thrilled to share the news of this monumental carbon credit agreement with everyone in the country. With this agreement, we are not only building a sustainable future for Bangladesh but also demonstrating a positive contribution to the clean cooking sector and the environment. Last but not the least, this makes us confident about reaching out to Base of Pyramid Level Households with an affordable price for eCook induction stove, which will eventually save the lives of millions." Says, Shuvasish Bhowmick, Country Director, ATEC Australia International Ltd.

Source: atecglobal.io