ATEC Global delivers an IoT eCooking tech stack that enables Global South households to track, verify and monetise their decarbonisation. ATEC’s core IP and unique value creation is the ability to distribute a decentralised fleet of stove assets that can generate an independent, digitally signed & encrypted data set that converts a carbon claim into a data-auditable carbon credit that can be sold globally. ATEC then works with major multinational companies and governments who purchase these high quality credit assets to accelerate their climate targets.
Mission
Carbon Project Integrity
The Guardian Ecosystem enables ALLCOT to create a standardized project development framework that fosters trust, transparency and compatibility across all project stakeholders. This ensures the creation of high-integrity projects while maximizing benefits for local communities.
The Guardian Ecosystem facilitates the fulfillment of methodology standards, validation body requirements, project developer needs, and community expectations, thereby enhancing the overall efficiency and transparency of the project
ALLCOT stakeholders benefit from access to accurate and comprehensive information on Hedera Guardian’s public ledger, leveraging a common set of rules and standards, fostering trust and accountability.
Transparently demonstrating how project resources are allocated on the public ledger enables ALLCOT’s stakeholders to comprehend the full scope of a project's efforts, flow of funds, and impact.
By recording the transaction cost at every stage of a project's progress, resulting carbon credits can be priced to maximize revenue distribution back to the local community.
By utilizing Hedera Guardian’s digital ledger, ALLCOT is able to minimize accounting errors, make auditing more open and efficient, and enable a more equitable emergence of verification and validation partners.
The Hedera Guardian Ecosystem establishes a secure chain of data custody, particularly in the case of drone-captured information for origination purposes. This enables ALLCOT to ensure that all project data remains intact, trustworthy and accurately tethered to each project attribute.
By ensuring that data provided aligns with the necessary frameworks, the Guardian helps meet specific industry needs and standards, while ensuring compliance with multiple reporting requirements.
ALLCOT is focused on creating products that surpass the limitations of conventional methods, shifting towards more advanced and efficient approaches to future sustainability markets.
The Guardian serves as a single source of truth, ensuring that policies and rules are standardized and compatible with other sustainability market actors. This enables ALLCOT to align financing through carbon forwards and the structuring of green bonds seamlessly across various entities within the ecosystem
The adoption of a common taxonomy within Guardian enables ALLCOT to establish a standardized language for discussing and addressing various sustainability issues. This fosters better communication and alignment for more effective and cohesive climate action.
By leveraging the flexibility and adaptability of Guardian, ALLCOT has the ability to provide various pathways for different stakeholders as the sustainability market evolves.
The Hedera Guardian Ecosystem operates as a common good, providing services to the entire ecosystem without an extractive fee-based model.
ALLCOT leverages the Hedera Guardian Ecosystem to build on and integrate various services and initiatives already established by other community members. This creates an aligned, streamlined ecosystem of sustainability market actors that avoids duplication to serve the needs of communities, investors, and project developers.
A global problem in search of a data solution
Decarbonising cooking will reduce emissions by 1 gigaton a year - more than the global airline industry. Efforts have been made to resolve this problem, but due to the lack of data integrity in carbon claims this problem remains largely unresolved and trails significantly behind access to electrification over the last 2 decades.
A paradigm shift is required - that rather than viewing it as a problem, decarbonisation of cooking needs to be viewed as an untapped asset. But this asset can only be realised if the carbon claim can be reliably tracked, verified and monetised. This is the core of the problem which ATEC’s IoT tech stack is resolving.
ATEC - Carbon with veracity & immutability
UC Berkeley reported in 2023 that the cookstove carbon sector had significant issues in over-crediting due to the lack of veracity and immutability of carbon data claims. The quality of data veracity was low, with an over-reliance on sampling - plus the data set sat with the project developer where it could potentially be manipulated before verification.
ATEC is the sector pioneer to resolve these issues - creating a data set 100% on every device that is digitally signed and encrypted. This can then be sent directly to a verifier’s server to create a 100% independent data set that is unable to be changed by project developers. This creates a carbon credit with 100% data veracity and immutable characteristics that is designed for ultimate transparency and therefore scale.
Integrated with Hedera Guardian for first-class carbon
ATEC’s IoT data set integrates directly into Hedera and the Guardian ecosystem to enable seamless verification and transactions and providing the ultimate in carbon credit transparency. This leverages the Gold Standard’s methodology for Metered Energy Cooking, which was initially digitized and was the first place prize winner during the Sustainable Blockchain Summit Hackathon in 2023.
Hedera Guardian’s ecosystem resolves the current issue around carbon data integrity by providing a transparent platform to verify carbon credits generated by ATEC IoT data through digitized and open sourced methodologies that help facilitate the carbon project data lifecycle. This approach provides the ideal setup for the next wave of carbon data integrity that will hit in the coming year - ultimate beneficiary as both ends of a credit. This system enables project developers like ATEC to interact with VVBs, certifiers, standards, as well as other stakeholders in a singular digitized workflow - bypassing PDFs, excel sheets, and other siloed information which leads to data opacity in the market, which becomes more complex as data volumes grow in an effort to improve data transparency.
Carbon finance & markets are still quite opaque, with little transparency of both project initial financing and data to buyers, society and governments of who and where are actually financially benefiting from carbon projects and what such credits are being retired against. The Guardian provides the ideal platform of traceability for end-to-end carbon claims - to ensure that the finance is being utilised where it is needed, as well as the carbon claim being utilised against an immovable emission.
Case study - 11.5M ton partnership with Engie
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
According to a 2021 report by McKinsey, demand for voluntary carbon credits is expected to grow 15x by 2030, then 100x by 2050 in order for the world to meet agreed science-based targets.
Margaret Kim, Gold Standard CEO states “Gold Standard’s methodology for measured and metered cooking is a step forward towards direct measurement of energy or fuel consumed during cooking, further enabling the creation of high integrity carbon credits from cookstove projects. We are thrilled to see project developers such as ATEC utilising the methodology at such large scales.”
“Generating decentralised data-verified emission reductions using IoT and satellite technology is neither easy nor cheap, but it is essential,” says Ben Jeffreys, “With this technology stack, ATEC estimates $16bn per year can be directed into the hands of 800 million women in developing countries through decarbonising cooking. It’s up to us as a sector to ensure this once in a generation opportunity for people and the planet does not pass us by.”
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