GoNetZero™: The Singapore business moving companies from climate commitment to decarbonisation action

Big corporations with large carbon emission profiles often procure renewable energy (RE) through power purchase agreements (PPAs), a direct contract with clean energy providers. In contrast, companies with smaller carbon footprints are turning to alternatives, such as renewable energy certificates (RECs) to achieve their sustainability goals.

That said, adopting RECs can entail challenging administrative processes. Sourcing, managing, and retiring the certificates often require complex backend operations, taking up significant manpower and time.

In 2022, Singapore-headquartered energy and urban solutions provider Sembcorp Industries (Sembcorp) took part in EDB’s Corporate Venture Launchpad programme which resulted in the launch of GoNetZero^TM. A new business offering an end-to-end carbon management solution launched within six months from its concept validation sprint.
 

GoNetZero^TM develops bespoke decarbonisation strategies for their customers, anchored around a proprietary digital platform that allows corporates to manage, optimise and scale their renewable energy assets. For example, corporates can use the platform to monitor and benchmark the performance of energy sites in real-time. This simplifies the process of matching renewable energy generation and consumption, while improving operations and maintenance.

Through the platform, companies can purchase RECs and carbon credits to meet climate commitments, as well as track and measure their net-zero efforts.
 

Bridging The Gap Between Businesses and Generators

GoNetZero^TM was able to leverage Sembcorp’s expertise to create innovative solutions tailored to the needs of different corporates. Integrating blockchain technology and data analytics into RE transactions has allowed customers to trace, match, and verify with ease the authenticity of a unit of carbon-free RE being consumed. This ensures accurate reporting, fostering transparency, and trust among businesses and RE generators.

After its launch, GoNetZero^TM formed strategic partnerships with industry players to boost the accessibility and adoption of global RE supply among companies.

Here are three examples:
 

To accelerate its growth, GoNetZero^TM is diversifying and rapidly expanding its offerings, which now includes NetZeroOS, a smart energy asset management platform.

GoNetZero^TMs CEO Soon Sze Meng explains: “We help corporates globally acquire RECs and carbon credits, offering them a seamless platform for acquiring and managing them. Through NetZeroOS, our proprietary smart energy asset management system, asset owners and operators are also able to optimise their assets for optimal generation yields.”

Soon adds: “As the global energy transition continues to gain momentum, we see strong growth potential for GoNetZero^TM in providing businesses with turnkey solutions that contribute towards their net zero journey.”