JERA Group Invests in Granular Energy and Pilots Hourly Renewable Energy Data Management Solutions2024/10/10
JERA Co., Inc. (“JERA”), through JERA Ventures, has recently invested approximately 1 million euros in technology company, Granular Energy. Furthermore, we hereby announce that our subsidiary JERA Cross will pilot Granular Energy’s hourly renewable energy data management solutions.
Granular Energy is a start-up company co-founded by Dr. Toby Ferenczi (who also established the independent, non-profit standards body EnergyTag*1). Granular Energy is a pioneer in providing solutions that bring more transparency to the energy industry, such as 24/7 carbon-free electricity*2. These solutions enable not only hour-by-hour matching of power generation and consumption but also alignment with existing certification systems in different regions.*3
Proposals to adopt “hourly matching,” which demands hour-by-hour matching of energy generation and consumption, were received during the solicitation of feedback for ongoing revisions of the Greenhouse Gas Protocol*4 and are indicative of growing international interest in more rigorous management of renewable energy sources. JERA has already been working on initiatives to further the social implementation of 24/7 carbon-free energy tracking and certification. (5 March 2024 Press Release)
To advance this initiative, JERA Cross will pilot Granular Energy’s hourly renewable energy data management solutions, which adhere to the principles proposed by EnergyTag. By precisely tracking the type and timing of power generation on an hourly basis in accordance with existing certification schemes, JERA Cross clients will be able to visualize their energy use in real time. We believe this will enhance transparency around clients’ decarbonization efforts and contribute to furthering their green transformation.
JERA Cross President & CEO Takao Miki said, “Dr. Toby Ferenczi has been spearheading the implementation of 24/7 CFE tracking through his prominent works including activities with Granular Energy. We believe we can further contribute to establishing a truly carbon-free society by collaborating, delivering, and building recognition of CO2 reduction with Dr. Ferenczi and Granular Energy.”
Granular Energy CEO Dr. Toby Ferenczi said, “We are delighted to be partnering with JERA Ventures and JERA Cross to help bring greater transparency to customers in Japan and accelerate the transition to a carbon-free energy system.”
Going forward, through our partnership with Granular Energy, which is active in over 10 countries and is behind the world’s largest ‘24/7 clean energy program’, JERA will lead the popularization and expansion of a market that enables Japanese clients to freely access 24/7 carbon-free energy, thus playing a crucial role in achieving a genuinely carbon-free society.
*1 EnergyTag is an independent non-profit organization that aims to define and promote standards for tracking and certifying renewable energy on an hourly basis. The global standard for 24/7 carbon-free electricity that EnergyTag promotes provides a framework for certifying that electricity consumption aligns with the supply of green energy on an hourly basis, thereby supporting the transition to a decarbonized power system.
*2 “24/7carbon-free energy” is a name for electricity that emits no CO2 twenty-four hours a day, seven days a week, 365 days a year. In accordance with the Ministry of Economy, Trade, and Industry's "Guidelines for Retail Sales of Electricity," this means 100% of the electricity supplied is from zero-CO2 emission sources together with the environmental value derived from the use of non-fossil certificates.
*3 Granular Energy provides a comprehensive platform for management of Energy Attribute Certificates, enabling utilities to streamline management of certificate portfolios and provide greater transparency to customers. Granular Energy is working with over 40 utilities in more than 10 countries.
*4 Greenhouse Gas Protocol Scope 2 Proposal Summary: https://ghgprotocol.org/sites/default/files/2023-12/scope-2-proposal-summary.pdf
About Granular Energy
Granular Energy is the leading provider of energy certificate management software for utilities and retail energy suppliers, helping them to provide greater transparency for energy customers. Granular Energy’s platform is used by over 30 utilities across 10 countries and is behind the world's largest ‘24/7 clean energy’ program. Granular Energy was also named the Free Electrons Start-up of the Year 2023, a global competition with over 500 applicants judged by 7 large utilities.
Website: Granular Energy
About JERA Cross
JERA Cross, a wholly owned subsidiary of JERA Co., Inc., assists corporate customers in designing their future vision and formulating a strategy to achieve it as they pursue Green Transformation (GX). Additionally, it provides integrated support for the development and supply of the renewable energy needed for energy decarbonization. Furthermore, by achieving a stable supply of 24/7 carbon-free energy, JERA Cross contributes to solving corporate GX challenges, furthering business transformation, and reducing CO2 emissions.
Website: JERA Cross
About JERA Ventures
JERA Ventures is a corporate venture capital initiative making strategic investments totalling 300 million USD in start-up companies with leading-edge technologies or business concepts and venture capital funds with close-knit networks of such companies. As “a sandbox for people who are serious about changing the world,” JERA Ventures aims to be a good partner for start-up companies that are taking on the challenge of changing the world in the energy domain and to act as a bridge between them and JERA.
Website: JERA Ventures