Thanks to this technology, it is possible to have real-time, clear and verifiable records in a distributed ledger.
Green Energy Tracker will be the first solution that allows to record guarantees of origin [GO and REC], certificates and other green medals, with the possibility to trace the energy from its generation to its consumption.
This means that consumers will be able to know exactly where their electricity comes from, and at the same time, green energy producers control their generation.
Our project arises to satisfy several needs in the market.
Thanks to the technology of smart contracts, over a blockchain network, we have made a fraud-proof system, since all guarantees of origin and certificates can be tracked from start to end, almost instantaneously.
Another need is to provide an interconnection between countries, which now operate almost isolated, offering a standardized system for the whole European Union.
Market trends are clear, more renewable energy generation facilities are being built, which translates into more and cheaper production, that need to sell their guarantees of origin.
There has also been an increase in the number of consumers requiring certified green energy, who demand to know the source of the energy they buy.
Tested with real traders:
In order to obtain a reliable and useful final product, our developments are always tested by real end users, with whom we have continuous communication, which helps us to shape a final product without bugs, adapted to their needs.
Co-funded by the Horizon 2020 programme:
Green Energy Tracker was selected for Phase 1 in the Horizon 2020 SME Instrument program of the European Commission, which has allowed us to carry out a feasibility and market study, to verify the possibilities of meeting the estimated objectives, as well as their scalability of the application throughout the European Union and the rest of the world.
Recently we have asked to the EC to include the project in their Phase 2 of the program.
An idea recognized by market leaders:
According to Siemens, Megavatio Control S.L. is the best start-ups in Spain.
This is another confirmation that GET is an innovative solution, with enormous potential for growth, and also a necessary tool for the European energy market.
Green Energy Tracker has also been a finalist in the awards of the IngenierosVA, in June 15, 2017, participating in the category “Outstanding industrial startups”, to whom we thank his invitation, and we congratulate all the finalists and winners (More info, Spanish).
Marcos Valles, co-founder of Megavatio Control S.L. has also been invited to various events related to blockchain, energy and technology, such as “Blockchain: The Protocol of Truth” event organized by the newspaper El País – RETINA and Accenture, and Tech Breakfast – Blockchain organized by Innova Hub Gas Natural Fenosa.
How does it work?
Energy can enter the system in two ways:
- Through an authorized device, such as a counter ready to send data directly to GET, previously parameterised and sealed to prevent fraud.
- Through certificates from an AIB member.
Once in the system, these guarantees of origin can be bought and sold through any of the clients we will offer (Web, Desktop and Mobile), or some third-party client, since we will open communication APIs to allow the integration of our system on other CTRM platforms (commodity trading risk management software platforms).
Each guarantee of origin or medal carries an associated smart-contract, which controls its behavior, preventing fraud, such as the purchase / sale of certificates already used or expired, and allowing to see additional data such as the exact date and place of origin. The code of these smart-contracts will always be public, which provides additional security and transparency to the system.
Thanks to running on a public blockchain network, it is possible to trace all operations related to a particular medal, making it impossible to fraud, for example, with double counts and expirated certificates sales.