With the destruction of the crypto markets as of late there isn’t much to be excited
about…although if you read between the lines, the progress of crypto hasn’t slowed down
one bit.
The world’s largest companies are making BIG moves while retail plebs panic.
Stay cool, don’t hit the panic button….because it’s time for Chico Crypto!
Large companies making big crypto moves?
Well last week we got news that the Energy Giant shell is going to launch a Bitcoin mining
initiative during the Bitcoin Miami 2023 conference next year.
But Shell and their love for blockchain…goes way back.
In January of 2018, nearly 5 years ago it was announced Applied Blockchain secured an
investment from Shell trading.
Then months later Shell’s CEO, Ben Van Buerden announced the results of their collaboration.This
was the world's first energy derivative trades executed on a live blockchain solution.
But…let’s rewind even further in time as the importance of one blockchain company
becomes highly apparent.
As we can see from this 2017 press release from energy web co-founder RMI, the other
founders were a swath of energy giants including Shell.
This partnership was conjured all the way back in 2017, but if you go to Shell’s website
today, you can see they have a section on Blockchain technology, and if you go to their
activity and click into new energies, they tout their partnership with EWC, saying they
are a founding member.
The importance of Energy Web to Shell is apparent…but it gets even clearer when you connect this.
Going back to Applied Blockchain’s investment from Shell, we can see the news of this came
in January of 2018…by November of 2018, the two entities did an energy derivative
trade….what do you think happened months before their derivative POC went live?
Applied Blockchain joined Energy Web, and the subheading gives a reason for the collaboration
“Following recent investment from Shell, Applied Blockchain collaborates with non-profit
organization.”
Shell was the reason this collaboration went down…doesn’t it seem to you Energy Web
is significantly important to Shell?
Well it gets even more interesting…
Sabine Brink, Shell’s head of blockchain and Web3, got interviewed on the Insureblocks
podcast…let’s listen in…
Sabine says a non-profit they joined is a key enabler for Shell to accelerate and deploy
any solutions into the decentralized energy space…and then she reveals that its Energy
Web!!
Energy Web is a key partner and enabler of Shell in the Web 3 world.
Now let’s get into the example projects
If we go to Energy Web’s website, we can see there is a section on the “24/7 software
development kit (SDK)” and they say “In light of increasing interest for highly granular
renewables accounting and sourcing, Energy Web (EW), in cooperation with select members
is developing a 24/7 software toolkit, EW’s first set of open-source software development
kit (SDK) to track and match renewable electricity generation and consumption on a 24/7 level”
I wonder who they built this in collaboration with.
Well at the bottom they have the partners.
First Elia, second SB Group, and third is….SHELL and if we read more we can get confirmation
of the development partnership.
It says “Shell is pleased to be partnering with Energy Web to develop functionalities
which aim to provide 24/7 insights on renewable electricity consumption.”
And in February, Energy Web & Shell both presented the proof of concept, diving into how the
tracking and matching of energy happened with Energy Web tech.
But that’s just the tip of the iceberg…their collaboration goes even deeper!!
In June it was announced in press release that “Shell, Accenture and Amex GBT were
launching one of the world’s first blockchain powered digital book-and-claim solutions for
scaling sustainable aviation fuel & the article states “Shell, Accenture, and American Express
Global Business Travel are jointly announcing the launch of Avelia which was developed by
Shell and Accenture, with the support of the Energy Web Foundation (EWF),”
Going to Avelia’s website we can see that yes it’s being built with support from Energy
Web but they say Avelia is using blockchain technology to provide clear and transparent
tracking of the environmental attributes of the sustainable aviation fuel but then say
“Energy Web serves as technical advisor, providing technology and product expertise
on the platform's design and architecture.
We are proud to use Energy Web’s blockchain capabilities.
But it goes beyond aviation fuel…Both Sabine & Dan Jeavons, Shell’s VP of Computational
Science and Digital Innovation gave a presentation on Web3 and Blockchain at shell just a few
months ago and Dan expanded on both collaborations with Energy Web…let’s listen in
He explains that this is getting expanded into other forms of renewable energy, like
green hydrogen and renewable diesel…
Now if you read between the lines, you can get a picture of how big this is going to
be.
Back in September of last year, Shell announced they were building one of the largest biofuel
facilities in all of Europe…and the article says ““Today’s announcement is a key
part of the transformation of one of our major refineries into an energy and chemicals park,
As part of its Powering Progress strategy, Shell is transforming its refineries into
five energy and chemicals parks.
Shell aims to reduce the production of traditional fuels by 55% by 2030 and provide more low-carbon
fuels such as biofuels for road transport and aviation, and hydrogen.”
The Rotterdam biofuels facility is expected to start production in 2024.
It will produce low-carbon fuels such as renewable diesel.
Sustainable aviation fuel (SAF) could make up more than half of the 820,000-tonnes-a-year
capacity, with the rest being renewable diesel.
Hydrogen, renewable diesel, and sustainable aviation fuel are all mentioned as an output
for this Shell chemical park…exactly what Energy Web will be tracking, tracing, and
verifying in collaboration with Shell…obviously Energy Web will be a critical backbone to
this energy refinery of the future.
Reading even further between the lines, we should check out Zero Six.
This is a tokenized platform that incentivizes oil and gas producers to shut wells early
and turn unextracted, unburned oil and gas into high-integrity carbon credits.
In an explainer of the platform they says “ZeroSix carbon credits are based on highly
regulated government agency reporting about fossil reserves.
These proofs are automatically anchored to the Energy Web blockchain, making the process
seamless for producers.
They then dive into carbon credit token creation saying “These steps, ensuring accuracy,
additionality and permanence, are anchored to the Energy Web Chain (EWC) by storing documents
on IPFS and securing the document hashes on the EWC, resulting in a full provenance trail.
This yields a transparent carbon token”
Yeah a carbon credit market and registry is being deployed on EWC…from the Zero Six
whitepaper it says “To build the world’s most reliable and transparent carbon token,
we chose a public chain (the Energy Web Chain) that delivers transaction speed, reliability,
low transaction costs, and, importantly, low energy consumption.
But why is this important and how does it tie into Shell?
Well if we go to the Zero Six team, Martijn Dekker is their CEO…if we go to his Linked’n
we can see he formerly was a high ranking executive at Shell, a Vice President for a
whopping 25 years!!
Scott Fraser is Zero Six’s co-founder & strategic advisor, checking out his Linked’n he still
works for them in the new venture department, and has been there for nearly 11 years.
Then Arno Laeven, who is Zero Six’s COO, has also previously worked for shell.
He was the founder and lead of their blockchain center for excellence but also he has worked
for Energy Web as their head of strategy and market development.
Now remember, Energy Web Green Proofs are what enable all of this.
In the introduction on this tech they say “Green Proofs makes it easy to establish
a transparent audit trail proving that a given unit of energy or a given product
(e.g., electricity, hydrogen, carbon offsets, aviation fuel, green steel) is in
fact “green.”
But what else do Green Proof’s track and trace?
Well they have a special section on them titled “Green Proofs for BTC“ …Now if Shell
is going to be diving into the Bitcoin mining industry….you would think they would use
the template for the solution they’ve built for fuels right?
I wouldn’t doubt it…and I would almost guarantee it…
But my friends…Shell isn’t the only player connected to Energy Web especially when it
comes to Sustainable Aviation Fuel.
Solid researcher who focuses on Energy Web, Detective Mickey leaked this to me…give
him a follow if you want the alpha first….
But co-founder of Energy Web Foundation RMI just released something, called SABA or the
“Sustainable Aviation Buyers Alliance”...and as we can see the founding companies are big
players, Bank of America, Boeing, Deloitte, Meta, Jp Morgan, Microsoft, Netflix and Salesforce….and
as we can see the technology support is coming from Energy Web…
How do you like those research apples?
Cheers I’ll see you next time!