@Aban_Foundation
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Aban Foundation
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To guarantee that your energy consumption is fossil-free, you need to be able to verify its origins. An hourly verification, which is requested by more and more companies, needs new technology to work. This is why Spritju has created our energy traceability machine, a digital platform that shows you where your energy comes from hour by hour. This new system uses both blockchain technology and AI to work, two technologies that take the potential for these types of solutions to the next level. Energy traceability is becoming increasingly important for both providers and consumers of electricity. To make sure that you don’t contribute to the further use of fossil fuels, companies and individuals alike are asking for proof that the power they buy comes from clean energy sources. Until now, this proof comes from certifications in different forms of renewable energy contracts, that guarantee that over time, the amount of energy you buy will be produced from renewable sources. However, as more and more companies are committing to 24/7 carbon-free energy, there is a call for more granular traceability where the energy’s origins can be verified on an hourly basis. This is something that Spritju is working to accomplish. Energy Traceability is Growing in Demand Svea Solar, one of Spritju’s customers, wants to use more granular traceability to show the real footprint of individuals' and companies’ energy consumption. They are establishing a trading market for more granular guarantees of origin, using Spritju’s technology to build a platform for their customers who produce energy to buy and sell guarantees of origin. “Spritju is an actor, much like us, aiming to change the status quo. There are limitations with the current system of origin guarantees, which only account for the origin of electricity on an annual basis. With time-based guarantees of origin, it reflects much more the real climate footprint of energy consumption. Increased traceability provides better governance for us and other companies working to reduce the share of electricity from fossil fuels in the grid,” said Marcus Cordts, Head of Energy Services at Svea Solar. “Additionally, Spritju opens up the trade of guarantees of origins to be more transparent compared to today, allowing the end consumer to understand what they are truly paying for guarantees of origin.” Tracing Energy Consumption with Blockchain and AI But to fully understand the value of a granular energy traceability system, you need to understand the system itself. Let’s start with what a blockchain is: A system that makes transaction data decentralized and transparent. In a traditional transaction system, information, payments, and other data go through a central authority such as a bank or an energy utility service. This means that the data can be intentionally or unintentionally altered by this central authority, reducing the trust that the data is accurate and making the whole system vulnerable to defects in the central authority. In a blockchain, however, actors make transactions directly with each other through systems such as Smart Contracts. Any transaction data is then stored in a distributed ledger, which can be accessed by the whole supply chain on a need-to-know basis, and which is continually updated as more related information is added. Each time a transaction is made, its data is encrypted and packaged into a “block”, which is added to the chain of previous transactions, thereby building a chain of blocks, or “blockchain”. It is this chain of transactions that can be accessed in the ledger. As this data is distributed, there is no reliance on a single entity to verify it, thereby increasing trust in the information. The data also cannot be altered or refuted by any of the involved parties, which helps auditing and certification. Certain blockchain verification systems, also known as consensus functions, can be very energy-intensive, while others are not. The system used by, for example, bitcoin is called Proof of Work (PoW) and involves solving computationally intensive puzzles to verify blocks of transactions, which can consume a lot of energy. But there are two other systems, Proof of Stake (PoS) and Proof of Authority (PoA), which require much less energy as they verify transaction blocks through ownership of blockchain tokens (PoS) or specific identity and accountability factors (PoA). As PoA is not applicable in an open market such as the energy market, PoS is the best system for energy traceability. If you want to know more about blockchains, take a look at our explainer article on the topic. Spritju’s Four Engines for Better Transparency In the energy sector, accessing trustworthy information can alleviate many of the challenges of energy traceability. By accessing transactions stored in a blockchain, consumers can verify that the electricity they buy was originally purchased from a renewable energy producer. The difficulty comes from matching energy consumption with energy production and managing the tokens to certify the origin of the electricity used. At Spritju, we have overcome this by building an AI-powered machine with four engines that make energy traceable through the blockchain. The machine is built to take the data of your energy consumption and match it with energy generation data at each hour, and then use blockchain technology with Proof of Stake consensus to track the origin of each kWh you use and verify its source. Through the use of AI, the first engine of the machine can adapt to regulations and standards for hourly electricity matching to get the most accurate matching possible. The data sources and output are then recorded in the second engine and collected in a data block that is added to the Spritju blockchain system, fully auditable by our audit partner. This data is also fully transparent and accessible to the consumer, meaning that they have full knowledge of where their electricity comes from and how the matching was made. The third engine of the machine creates tokens through the blockchain’s PoS verification system. These tokens can then be used as proof of the origin of the energy used, which is especially important when producing e-fuels like SAF, hydrogen, or methanol. Spritju gives fuel producers verifiable proof that the energy they use comes from renewable sources, which is imperative to claim that these fuels are fossil-free. Finally, the fourth engine connects the machine to a consumer’s devices, making it so that they can see all the output from the four engines and know what the source of their consumption is, which in turn allows them to make informed decisions when consuming power. To find out more about how Spritju works to make energy transparent, visit spritju.com.
Aban Foundation
10 w
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We want to buy more responsibly, but how can we see through attempts of greenwashing? Spritju is an Aban Foundation-founded company that reduces greenwashing in the energy sector by making each kWh of electricity traceable and its emissions calculated, fully transparently, and visible to the consumer. Recently, Spritju signed experienced industry professional Ulla Sandborgh to support the company’s journey to enable 24/7 Carbon-Free Energy for everyone. Responsible consumerism is on the rise. People of the millennial generation – around 1.8 billion people worldwide – are coming to an age where their consumption is peaking. However, the consumer incentives aren’t what we typically see. Many millennials associate consumption with values other than money – values like their own health, the local origin of the product, and the product’s contribution to the sharing economy. Moreover, only 7% of millennials would consider themselves loyal to brands, meaning that they constantly evaluate the products they buy based on these values. This concept of responsible consumerism also naturally extends to the energy market. Power generation is the primary source of carbon emissions, and consumers want to be sure that the electricity they get from their outlets has the smallest carbon footprint possible. Unfortunately, the tools to verify this currently do not exist. In the European Union, the Guarantee of Origin system gives customers unreliable information on their electricity consumption mix. Introducing Spritju At Aban Foundation, we want to provide better tools for consumers wanting to purchase and use electricity responsibly. For this, we have founded the company Spritju, a software company that provides energy traceability as a service by matching each kWh of electricity consumption to its consecutive generation at each hour. This means that every time you consume electricity, Spritju matches the electricity to where it was produced, and calculates the carbon emissions for each unit of electricity you consume. With patent-pending AI and blockchain technologies to enable this, Spritju is a first-of-its-kind solution bringing transparency and traceability to a field where this has previously been impossible. Our mission is to reduce greenwashing and make it easier for you to consume power more responsibly. To support this mission, we recently had Ulla Sandborgh join us as an advisory board member, bringing extensive experience from the IT and telecom industries as well as the power grid and energy markets. Ulla Sandborgh was the director general and CEO of the Swedish transmission system operator, Svenska kraftnät, 2017-2019. Before her position as director general and CEO, she worked five years as Executive Vice President for the Marketing and System Development Department at Svenska kraftnät, from 2012 to 2017. Since June 2023 Ulla Sandborgh has been a board member at Primrock. Be a part of the change Spritju is on a journey to support companies that want carbon-free energy in their operations and therefore has joined the UN-led 24/7 Carbon-Free-Energy Compact. By improving verification systems beyond renewable energy credits and towards clean energy certificates, companies, and individuals can ensure that their energy consumption is truly green without greenwashing. Want to learn more? Take a look at our website, follow us here on We Don’t Have Time and on LinkedIn, and submit an application if you want to work with us.
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Accuontability can only be enhaced by an individual if only there will be transparency & traceability. This is too important.
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Transparency and traceability=Accountability.
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This is very important, but how will that work in practice for the consumer? :)
Aban Foundation
19 w
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Schools and companies can work together in an ecosystem to reach our sustainability goals. At Aban Foundation, we want to build an ecosystem of organizations that include sustainable practices from the start, while solving problems and contributing to society. Starting with sustainable schools and sustainable energy solutions, we have only gotten started! Why use offsetting to compensate for your unsustainable practices when you can integrate sustainability into your core business and eliminate the need for offsetting? This is the goal of the Aban Foundation, to build businesses that are sustainable from the start, and therefore do not need to do any offsetting. Our CEO Ahmad Karnama joined the COP28 Climate Hub to share our vision and mission and introduce Spritju, one of the companies founded within our mission. The Aban Foundation is the world’s first “founcorp”, a new form of company that analyzes existing organizations, evaluates what is missing to achieve a better future, and kickstarts companies that fill that void. We have found that we need more companies that are designed to do everything in line with the global sustainability goals, instead of compensating for practices that harm our long-term sustainability. “This concept of ‘founcorp’ is a sort of evolution of organizations, that whatever they do is connected to the sustainability goals and visions and they contribute to the business success as well. I mean, those things should come hand in hand,” explained Ahmad. To accomplish this, we have a vision of building one school with the highest sustainability standards in each country. “We have started to develop and identified the countries where we want to build our initial schools,” said Ahmad, adding that the first three countries that are being vetted for these schools are in the Middle East, and fundraising has started for their construction. When asked why these schools are so important, Ahmad emphasized the ecosystem aspect of the Aban Foundation, where the businesses being founded need to contribute to and be a part of society. Schools are an important element in promoting and integrating sustainability into society. Beyond building schools, the foundation also works to create innovative and important businesses, of which Spritju is one of the first and tackling an outstanding energy issue. The energy sector is the sector predominantly responsible for climate change, as 73% of the total carbon emissions in the world are from energy. One major barrier to reducing these emissions currently is the lack of transparency – energy is one of the least traceable products in the world. When you turn a lamp on, you cannot know where the electricity comes from. “That’s why we developed Spritju, which will provide more transparency and traceability in the energy sector, and make sure that if you consume some sort of energy you will know the source of the energy consumption at each hour,” said Ahmad, “and we want to go even more granular in the long run as we move forward.” Moving forward, we hope to return to next year’s COP with news about how we have built more schools and companies like Spritju to create an ecosystem that creates impact across different initiatives in different sectors with minimal environmental impact. Follow this profile over the next few months as we will share more about our foundation and how we are contributing to solving the climate crisis! You can watch the full interview below, and visit our website to learn more about us. https://youtu.be/f_socvO5DWU?t=25347 About the COP28 Climate Hub We Don’t Have Time hosted the COP28 Climate Hub, in partnership with Race To Zero, UNDP, the Exponential Roadmap Initiative, and the Fossil Fuel Non-Proliferation Treaty Initiative, amplifying the important high-level discussions at COP28 to a global audience. The live broadcast spanned over 10 days and covered a variety of climate-related topics. Rewatch the COP28 Climate Hub anytime on We Don’t Have Time Play.
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It is important to use new advanced technological solutions in the development of any business. I succeeded, and all thanks to https://sloboda-studio.com/ Their help in creating a mobile application brought me good income and fame. So, it is very important to develop and follow new trends.
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Well said! We need to reimagine how our businesses are built!
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Well articulated
Aban Foundation
84 w
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Do you think it would be fun and highly meaningful to buy a tile with your name and personalized message in order to contribute in building a sustainable and diverse future? If yes, then the following campaign is meant to be for you! What if we tell you that we are building an organization that everything it does is making a contribution to sustainability and diversity? Not only the businesses but also how the profit is spent! And it does have a scientific foundation! Aban Foundation is the first Founcorp (Foundation Corporate) in the world. We make impact investments focusing on diversity and sustainability. Our first mission is to build at least one school with high sustainability standards in each country in the world (network of schools) to promote intercultural understanding and implementation of sustainability-related technological solutions. We are setting standards and making a movement to do business in a truly sustainable manner. We are inviting all of you to make a mark in our movement by buying a tile to be used in the construction of our schools. The tiles are going to be marked with your name and a personal message to the students. We suggest short messages with a motivational tone. Check out this link for more information: https://www.indiegogo.com/projects/buy-a-tile-to-build-diverse-sustainable-future/x/27547666#/
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Aban Foundation
84 w
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What if we tell you that we are building an organization that everything it does is making contribution to sustainability and diversity. Not only the businesses but also how the profit is spent! And it does have a scientific foundation! We are Ahmad (sometimes Adam) and Ricardo ; we both have PhDs and jointly have more than 37 years of unique work experiences in senior corporate roles, top academic research institutes and entrepreneurship. Aban Foundation is the first Founcorp (Foundation Corporate) in the world. We make impact investment focusing on diversity and sustainability. Our first mission is to build at least one school with high sustainability standards in each country in the world (network of schools) to promote intercultural understanding and implementation of sustainability related technological solutions. We are setting standards and making a movement to do business in truly sustainable manner. We are inviting all to make a mark in our movement by buying a tile to be used in construction of our schools. The tiles are going to be marked with your name and personal message to the students. We suggest short messages with motivational tone. Read more: www.aban.foundation Follow us: www.linkedin.com/company/abanfoundation Our scientific foundation: www.mdpi.com/2071-1050/12/20/8523
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84 w
We are planning to start from Ukraine. And we are putting solutions like www.spritju.com
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Exciting project! Where do you plan to start? And how do you define "high sustainability standards"?
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This is both innovative and essential for ensuring transparency and accountability in energy consumption.
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Thank you for explaning your technology in more detail, it's a very new and interesting solution!