Listen to this articleClearTrace is an energy data and carbon accounting platform. The company provides its customers with the digital infrastructure to enable decision making to mitigate environmental risk, prove their climate achievements and create new market opportunities. By using its advanced software platform, its customers are equipped with 100% traceable and verifiable energy and carbon records which can be used for purposes of attestation, compliance, audit and more. ClearTrace is already trusted by major corporations including JP Morgan Chase and Brookfield Renewable. Below is our recent interview with Zachary Livingston, Head of Sales at ClearTrace:
Q: What is ClearTrace? For those who have never heard of it, tell us something more?
A: There is an increasing need for companies to not only undertake carbon accounting, but to do so in a transparent and provable manner. As the market continues to operate in ambiguity without standard accounting frameworks, companies are needing to put significant thought to how their impact information will be disclosed with verification behind it. ClearTrace helps its customers prove their impact. ClearTrace also helps organizations leverage their existing data to make decisions and achieve business goals, which is very important at a time when companies are saturated by data and not using the information they have effectively. For example, a 2018 study found that, on average, organizations are using only half (51%) of the data they collect or generate, and data drives less than half (48%) of decisions.
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Q: Can you give us more insights into your platform?
A: ClearTrace’s platform provides a trusted system for companies to organize their energy data and deliver meaningful carbon reduction metrics. The platform organizes meter-level data on energy production and consumption and then enhances it by layering on other relevant attributes to calculate carbon impact. The company then leverages blockchain technology to ensure that the data is immutable, offering traceable records of carbon emitted and avoided. In other words, the platform ensures that renewable power suppliers derive the greatest value from each electron their assets produce and corporations know the carbon impact and value of what they’re purchasing.
Q: Which type of companies are your ideal users?
A: Any entity that needs to track their carbon emissions can use ClearTrace’s platform, but ideal users include large corporations, real estate owners and renewable energy suppliers.
Q: You’ve recently raised $4 Million in Series A funding; can you tell us something more?
A: ClearTrace will use its $4M Series A to fuel additional product development and service additional customers. The round was led by Clean Energy Ventures and Brookfield Renewable, which is also a client, also participated in the round. There’s clear traction for the carbon accounting market today as regulations are put into place that mandate corporations to curb carbon emissions and prove their impact.
Recommended: Q: What are your plans for the first half of 2021?
A: After bringing on a new CEO last year, Lincoln Payton, ClearTrace has been gaining great traction. We look forward to serving our existing clients on a daily basis with 24/7 carbon tracking, optimizing our product, and bringing on other companies with large carbon footprints to grow our client base and impact.
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