The Xpansiv Proof of State process provides differentiation for Digital Fuels markets with site-level, continuous emissions monitoring data provided by Project Canary.
DENVER, December 08, 2022--(BUSINESS WIRE)--Project Canary, the data-driven foundation of the energy marketplace, has developed a process with Xpansiv, the global market infrastructure for environmental commodities, to publish verifiable climate attributes. Based on high-fidelity GHG emissions measurement, reporting, and verification (MRV) provided by Project Canary, the Xpansiv platform enables producers to productize climate attributes as registered standardized digital assets. This allows buyers to meet net-zero goals with verifiable environmental claims.
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Project Canary is expanding its partnership with Xpansiv, bringing another data partner to Xpansiv’s registry ecosystem and allowing operators to transfer, transact, and retire assets in a secure and transparent platform.
Project Canary offers customers the flexibility to select a preferred registry, such as the Xpansiv Registry, for their differentiated assets.
The Xpansiv Registry enables producers to monetize or claim their differentiated assets, demonstrating environmental responsibility through measured and tracked methane intensity via an immutable ledger platform.
Project Canary emissions data and assessment scores will underpin the climate attributes tied to Xpansiv registered assets based on actual production volumes, ensuring claims are securely parsed per Unit of Measure and not double-counted.
The global marketplace is raising the stakes on differentiated fuel—estimate-driven approaches alone will no longer suffice as buyers look for demonstrated methane-intensity measurements and other verifiable environmental attributes, such as water and land usage and community impacts. Xpansiv, with stakeholders spanning energy to financial services, has deep experience supporting and adopting next-generation standards and verification systems. The Xpansiv Registry's smart contract is based on an immutable ledger that contextualizes and validates data from multiple sources, including independent data refiners, certification providers, and standards organizations. This process, known as "Proof of State," provides trust and transparency in the market.
Data from Project Canary environmental assessment scores and site-level continuous methane emissions monitoring (CEM) data will be stored in the Xpansiv Registry. The registry tracks custody of these assets from productization through retirement, enabling transparency in the Digital Fuels market. Xpansiv's CBL marketplace allows for the use of alternative registry platforms beyond Xpansiv’s own registry, maximizing liquidity and efficiency in the market.
"The expectations for data have evolved rapidly as the energy transition pushes on, and buyers are stepping up to demand additional fidelity for gas purchases," said Jasmine Zhu, VP of Market Development at Xpansiv. "Differentiated fuel based on actual measurement and high-fidelity molecular data is here. Now. By relying on Project Canary to deliver verifiable climate attribute data, we're able to deliver on-demand and provide a clear path to differentiated fuels the market can trust."
"Buyers, financial institutions, and global operators all want the same thing—robust measurement and more verifiable data," said Will Foiles, Co-founder and COO of Project Canary. "Working with seasoned registry partners like Xpansiv, we're building an ecosystem of interoperable data to take the Responsibly Sourced Gas market to another level. The truth is in the data. Working with the right partners will power an RSG market that meets buyers' varied yet rigorous standards for differentiated molecules."
Xpansiv provides the market infrastructure and data platform for carbon, renewable, and digital energy commodities. These Intelligent Commodities bring transparency and liquidity to markets, empowering participants to value energy, carbon, and water to meet the challenges of an information-rich, resource-constrained world. The company’s main business units include CBL, the largest spot exchange for environmental commodities, including carbon, renewable energy certificates, and Digital Natural Gas; H2OX, the leading spot exchange for water; XSignals, which provides end-of-day and historical market data; EMA, the leading multi-registry portfolio management system for all environmental commodities; and APX, the leading provider of registry infrastructure for energy and environmental markets. Xpansiv is the digital nexus where sustainability and price signals merge. Xpansiv.com
About Project Canary
Project Canary® is an environmental data and software company that collects, analyzes, quantifies, and visualizes asset-level environmental risk assessments and emission profiles. As a measurement, reporting, and verification (MRV) solution, the Canary SENSE™ Platform integrates a networked sensor canopy, including 3rd party sensor data and assessment scores, to provide independently verifiable climate attribute data for upstream, midstream, and CCS (carbon capture and sequestration) projects. Project Canary’s insights help energy organizations improve performance, manage risks, and deliver auditable decarbonization data. Formed as a Public Benefit Corporation, the U.S. Colorado-based team includes scientists, engineers, and industry operators focused on the path to True Zero™.
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