In early February, Spanish renewable energy company Acciona announced it had developed a blockchain platform, GreenH2chain, to guarantee the renewable origin of green hydrogen.
Not only will the development mean consumers can monitor the decarbonization process of their own energy supply, but the GreenH2chain provides information on hydrogen consumption. Clients will be able to access data to calculate the carbon dioxide emissions avoided by using this type of green energy.
Acciona partnered with FlexiDAO, a green energy technology company, to create the blockchain. In the future, once government systems for certifying the sustainable origin of hydrogen are established, Acciona hopes that the GreenH2chain will be used alongside them.
A major player in Spanish renewable energy, Acciona will implement the platform in Mallorca, where the company is working on its Power to Green Hydrogen project, aiming to create a sustainable ecosystem on the island.
Acciona has been a carbon-neutral company since 2016. Revenue in 2019 totaled €7.2 billion ($8.7 billion).
According to Columbia University, hydrogen energy’s versatility makes it an appealing energy source, and approximately 70 million metric tons are produced annually. It can be used in liquid or gas form, converted into energy or fuel and there are many ways it can be produced. Green hydrogen is fuel created using sustainable energy sources rather than fossil fuels. Its only byproduct is water, and it can provide clean power to be used for transportation, manufacturing and more.
The GreenH2chain isn’t Acciona’s first foray into blockchain technology. In the past, the company teamed up with ClimateTrade to sell carbon credits on their blockchain, and two years ago, Acciona announced plans to extend blockchain traceability to its renewable generation globally, also in association with FlexiDAO.