dClimate, a decentralized climate data marketplace, partners with Namibia to support its green hydrogen projects.
dClimate is a decentralized marketplace where climate data, forecasts, and models are standardized, monetized, and distributed. Billioniare investor Mark Cuban is an investor and strategic advisor of the company.
As part of this partnership, dClimate will work with the University of Namibia to become a verifier for the country’s carbon impact and sustainability initiatives.
For this purpose, dClimate will create a blockchain-native registry and verification system for quantifying the country’s carbon sequestration, carbon emissions, and carbon credits from green hydrogen projects within Namibia.
dClimate will use transparent satellite monitoring to create a scalable, blockchain native verification and registry system for quantifying Namibia’s overall carbon impact.
Explaining the advantage of this verification and registry system, Sid Jha, founding partner, dClimate, said:
“We will be able to verify the country’s carbon credits to help support ongoing green hydrogen projects within the country. This not only represents an exciting use case for how blockchain technology can power climate action, but for how countries can leverage decentralized climate data to support sustainability projects.”
Green hydrogen is a clean, renewable energy that minimises greenhouse gas emissions (GHGs). These advantages are thought to be critical in assisting decarbonization and net zero initiatives across continents.
Green hydrogen can be used to power mining equipment, automobiles, trains, planes, buses, and ships. Fuel cell electric cars (FCEVs), for example, may run on green hydrogen, and Hyundai has stated its ambition to produce 500,000 hydrogen-powered vehicles by the end of the decade.
Namibia has risen to the forefront of green hydrogen production in recent years. Late year, it awarded a $9.4 billion contract for a project to manufacture 300,000 tonnes of green hydrogen per year to support the growing global demand for renewable energy.
James Mnyupe, Namibia Presidential Economic Advisor and Hydrogen Commissioner, commented:
“dClimate’s data platform promises to accurately capture Namibia’s effort to fight climate change and enable us to monetize green hydrogen in a scalable manner.
Green hydrogen is viewed by the Namibian government as a growing market opportunity with the potential to boost national and regional economic growth. With an aim to become a net exporter of energy, the government is concentrating on fostering public-private partnerships in order to encourage domestic green hydrogen development.
Namibia has also secured $46 million grant from Germany for research and development of the green hydrogen industry in the country.
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