STN is pleased to be a founding shareholder to support the launch of HydroREC, and to enable its specialist solutions in green hydrogen credentialing to be designed and deployed on STN blockchain infrastructure, and contribute to this important national and global initiative.
The green hydrogen sector is one of the fastest growing globally. It is seen as a key to achieving global carbon neutrality targets across the US, Europe and China. Australia is striving to do its part.
HydroREC is a purpose-specific company, established to harness the power of modern blockchain technologies with a range of longstanding capabilities and experience in the clean and renewable energy sector. These capabilities will deliver solutions that are purpose-designed to meet the emerging needs of this discerning industry sector and its stakeholders.
“From STN’s point of view, we had no hesitancy in getting behind this initiative as it’s a glove-fit for our technologies and our focus on supporting and enabling diversified provenance-value anchored supply chains,” STN founding chairman Adjunct Professor Warwick Powell said.
“Our smart contracts capabilities and credentialed marketplaces will enable people to transact green hydrogen, green ammonia and green metals with confidence that what they are paying for is authentic. When people can be confident that the green claims are being met, then payments will flow smoothly. That’s the power of the STN Deal Room Smart Contracts.”
STN has developed a robust supply chain credentialing infrastructure, through its ongoing research and development collaborations with partners at Queensland University of Technology and elsewhere.
It is heavily involved in the design and development of solutions to enable smart food systems of tomorrow, and that includes how best to harness water and energy resources to achieve ecologically responsible and sustainable outcomes.
“With global supply chains exposed to increased risks of cyber security attacks and fraud around credence claims, there’s no more an important time than now to build the right foundations for credible credentialing going forward,” Powell said.
“The HydroREC team consists of people with experience, know-how and passion in all the necessary areas that will ensure it will make a positive contribution to independent verification of supply chain claims to green hydrogen, green ammonia and green metals.
“Opportunities for leveraged projects integrating smart energy solutions with smart food systems is one area we are looking at developing sooner rather than later. This will bring benefits to the STN ecosystem and create value growth opportunities for STN5 token holders.”
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