Yesterday, blockchain project dClimate announced a partnership with the University of Namibia to measure the country’s environmental and carbon reduction initiatives. Specifically, the climate data organisation will help to quantify the carbon sequestration, carbon emissions, and carbon credits from green hydrogen projects. The blockchain project is backed by American tech billionaire Mark Cuban whose company Radical Investments partnered with dClimate this summer as an investor and strategic advisor.
dClimate aims to use its technology to monetize and quantify Namibia’s green hydrogen output, following a recently announced $9.4 billion project aiming to produce 300,000 tonnes of the fuel. Namibia will be one of the world’s most prolific producers of green hydrogen – using a process where renewable energy electrolyzes water and produces hydrogen gas. Although the green version only accounts for 0.1% of the world’s hydrogen production, this process can generate an environmentally beneficial yet powerful fuel source, which can be used in vehicles, from domestic cars to more intensive mining machinery.
With the help of dClimate’s blockchain-native registry, the expansion of the green hydrogen industry will allow Namibia to avoid a large proportion of fossil fuel-derived emissions, which other countries have relied upon in the past to help their economies develop.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
