The following is a press release originally published February 21, 2023, on Business Wire.
EcoEngineers and Patch aim to Review Science, Develop MRV Approach for New Carbon Removal Technologies
SAN FRANCISCO, February 21, 2023 – Patch, a climate action technology platform, and EcoEngineers, a clean energy consulting, auditing, and advisory firm, have formed a partnership to ensure the integrity of new carbon removal techniques introduced into the carbon marketplace.
“EcoEngineers’ due diligence and science-based project evaluations and Patch’s digital marketplace, combined, offer a powerful accelerator of innovation in the carbon market,” said Shashi Menon, CEO, EcoEngineers. “Our scientists and engineers provide companies introducing new technologies the solid validation needed to sell on Patch’s trusted and transparent platform.”
EcoEngineers currently is reviewing the science as well as developing measurement, reporting and verification (MRV) approaches to quantify the greenhouse gas (GHG) emission reduction for companies introducing new and emerging technologies. Early examples include Seaweed Generation, which has developed technology to sink carbon-removing seaweed deep into the ocean; Andes, which is leveraging beneficial microorganisms to remove CO2 from the atmosphere and convert it into minerals for thousands of years; Drax, which is developing Bioenergy with Carbon Capture and Storage (BECCS) that will generate millions of tonnes of high integrity, permanent carbon removals; and Brilliant Planet, which uses algae as an affordable method of permanently and quantifiably sequestering carbon at the gigaton scale; among many others.
“Because these carbon removal technologies are so new and out of the box, we often need to create new methodologies to ensure the highest level of scientific standard,” said David LaGreca, senior carbon consultant and voluntary market leader for EcoEngineers. “Our team has the creativity, knowledge and insights to provide a thorough review and develop rigorous removals protocols.”
EcoEngineers begins every new project with a scientific review of the project’s ability to remove carbon from the atmosphere and then develops proper MRV processes that meet strict carbon accounting standards. This allows the project to state its contribution to carbon reductions and the controls in place in a standard format for acceptance on platforms such as Patch or on leading registries.
New carbon removal technologies and innovative ideas often are challenged to establish a validated pathway within the marketplace for carbon credit generation and trading. They may need new MRV methodologies that fit specific technology parameters when existing methodologies are not aligned with their practices. They may also need assistance qualifying and registering their removals on carbon registries and trading platforms and validating and verifying an initial pilot project.
The combined effort of EcoEngineers and Patch offers these projects a one-stop-shop for access to carbon markets. EcoEngineers provides the fundamentals required to establish a high integrity credit offering, and Patch makes this information accessible to carbon credit buyers, ensuring confidence and simplicity for their network of customers supporting these new projects.
“Connecting capital with decarbonization efforts is a priority at Patch, and we support this scale by connecting a growing cohort of carbon credit buyers with access to innovative projects that have been carefully vetted by third-party partners. EcoEngineers offers the rigorous scientific protocol and the transparency that our customers expect within the Patch marketplace,” said Robert Ralph, Carbon Removal Partnerships Lead at Patch.
Patch is the platform scaling unified climate action, empowering companies of any size to help rebalance the planet while advancing their business initiatives. Only Patch provides democratized access to the broadest selection of carbon credits available, through product integrations, direct purchases, and multi-year offtake agreements—all of which enable climate project developers to scale their solutions at the critical pace the planet requires. We do so by combining the most robust technology with impartial project scrutiny. In turn, brands as wide ranging as Bain & Company, Credit Suisse, and Afterpay are demonstrating their climate action and driving deeper customer engagements. That’s because they have the information they need to feel confident in their climate impact—and the transparency they want into each and every transaction.
EcoEngineers helps organizations create sustainable solutions for a better tomorrow. Our team of engineers, scientists, auditors, consultants, researchers, and analysts live and work at the intersection of low-carbon fuel policy, innovative technologies, and the carbon marketplace. Our people are trusted guides who help navigate the ever-changing energy landscape, providing the right tools, guidance, and knowledge to reduce your carbon footprint and to assess the potential risk to your business from the uncertainties caused by a changing climate and low-carbon policies. Through our systematic approach, we deliver value and proven expertise through the entire clean energy continuum, including education, regulatory engagement, life-cycle analysis, asset development, compliance management, audit, and verification.