Reneum

Directing capital where it is needed most to accelerate the energy transition. Take direct climate action, for a change.

Address

Unit GV-00-10-07-OF-02, Level 7, Gate Village Building 10, Dubai International Financial Centre
Dubai

Website

https://reneum.com/

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About Reneum

In our view, there is no bigger existential threat to world peace than climate change.

In this regard, it is imperative that the goals of the Paris Climate Agreement are reached. According to the United Nations’ Intergovernmental Panel on Climate Change, renewables must make up 70 to 85 percent of electricity by 2050 in order to avert the worst consequences of global warming.

To address this, Sindicatum Blockchain Technologies (SBT), a sister company to Sindicatum Sustainable Resources, has developed a solution to encourage the transition to a carbon-neutral world. By launching the Reneum token, SBT has built a blockchain-based platform to record the electricity generation data gathered directly from smart meters of renewable energy projects worldwide to help digitize, standardize and democratize the market for renewable energy credits. We are providing a solution to a fragmented, complex and opaque system involved in the registration and issuance of green energy credits. By serving as a digital marketplace, we will facilitate the commodity exchange of renewable energy certificates, opening up a global market to support the sustainability targets of companies, governments and non-for-profits worldwide.

Leveraging the decentralized nature of the blockchain technology, we will be replacing physical certificates with digital tokens, called Reneums, which will represent proof of 1 megawatt-hour (MWh) of energy generated by the producers of renewable energy. The Reneum tokens will be issued free to generators of renewable energy worldwide to help them further monetize their environmental attributes. These tokens can then be purchased by existing and prospective buyers of renewable energy to support their agendas of procuring carbon-neutral electricity and working towards 100% clean energy consumption. SBT’s Reneum tokens will be available to any solar power, wind power, geothermal energy project worldwide producing and selling electricity, provided the country or region does not make available Green Energy certificates or their equivalent by law.

The blockchain's distributed ledger technology is unique its ability to provide transparent, accurate, and immutable data monitoring and reporting, which facilitates a seamless exchange system unencumbered by bottlenecks such as regional compliance and data verification processes. By connecting the smart meters of renewable energy producers registered to our platform directly to the blockchain, we verify the authenticity of the energy source, ensuring the provenance of the energy is validated before it enters the market. Through the use of digitally stamped and secured contracts called 'smart contracts', the sale of the renewable energy certificate will be executed automatically once a set of predefined parameters has been satisfied, minimizing transaction costs in executing trades and decentralizing the market allowing for global trading. Buyers of Reneum tokens can green their energy consumption by taking the tokens out of circulation permanently through a process of 'burning', which will allow a consumer to report the offset in their sustainability report."

SBT's Reneum tokens will be issued free to generators of renewable energy worldwide in order to digitize, standardize and democratize the global market for renewable energy credits.

We are disrupting the energy markets to help break the stranglehold of the fossil fuel industry. By establishing a truly reflective price signal, we are giving clean energy its real value — one that embodies the positive impacts that clean energy has upon the climate, human health, and social inclusion