FinCo Fuel invested in ACE early on. “As an early buyer of our CO2 calculations, FinCo has been essential to us and the development of our Proof of Concept,” says Ruben Walker, CEO of ACE. “They trusted us and supported us with extra funds so that ACE could develop and make the concept more sophisticated. That was extremely important.”
In addition, ACE and FinCo developed a transparent and data-supported methodology to precisely measure the CO2 emissions’ reduction of these efficient cooking appliances. This methodology has since been improved considerably. The stove contains a microprocessor that keeps track of how long the ACE One is used daily. As soon as the users connect their mobile phones to it, the device transmits the data via an app.
“You can deduce a lot from that data,” says Walker. “When you know how often the appliance is being used, you know whether the capacity is being used to its full potential. You can also extrapolate how much time women spent collecting wood for cooking. And you know how much CO2 they have saved.”
That carbon offset has a “huge value”, says Walker. “And there are companies that are willing to pay for that. Which is extremely important. We have a difficult business case, because our customers are poor. But when they use their stove properly, it automatically generates enormous carbon values.
This target group can offset at least 3 to 10 tonnes per year. With a carbon price in Europe that is currently 60 euros per tonne, which is a good indication of the ultimate value of carbon, you’re easily talking about several hundred euros per year. And that’s a lot for people with minimal income.”
A consequence of this is that development cooperation can generate more impact. “With this data we can clearly show that the ACE One is being optimally used in this and this household,” says Walker. “And from this, you can deduce that cooking is no longer being done on an open fire, which has improved the quality of the air. That has a health value that you can easily express in money. So why doesn’t that market exist yet? There are plenty of parties willing to pay for better health in poor countries and we can provide that data. As a financier of development cooperation you know that you have a great deal of influence.”
Another consequence of this economisation is that pollution is becoming more expensive. When more and more parties buy up carbon, there will be a shortage. And that will drive prices up, making it financially appealing to solve the problem again.
“This is the very best we can do,” Walker says. “Right now, three billion people have no access to clean energy. That’s why they burn trees in a smoky fire in their own home. But it’s becoming a lot easier to address that now that we can put a value on the carbon emissions they save with the ACE One. Then we can finally just tackle all these problems.”
Walker is happy with critical parties like FinCo Fuel, who “look very carefully at what they buy. They want to know exactly what kind of carbon offsets these are and how they are created. They don’t just go into business with companies that build their business case solely on carbon credits and thus do not solve any social problems. That kind of leadership is desperately needed now.”
A fuel and CO2 saving of 14% - which ship charterer doesn't want that? Peterson Energy Logistics and Gulf Bunkering, both established in Den Helder, entered into a lucrative partnership. The results exceed all expectations.
At FinCo Fuel, we are always looking for better. Better raw materials, better conversion technologies that result in fuels with even greater CO2 savings. That is an ongoing quest, in which we gather knowledge and experience with various advanced products that can be blended. For example, we recently carried out a test in our FinCo Fuel distribution system on the blending of a new bio-product: bio-methanol.
A company that has the ambition to initiate change, needs to have that ambition reflected in everything. From its founding in 2013, FinCo Fuel has ensured that the sustainability of the energy market has become more firmly anchored in the organization's DNA and strategy every year. Not only by continuously greening our own processes and adapting them to the new times, but also by investing in cleaner fuels, which also allows our customers to reduce their CO2 emissions.
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A company that has the ambition to initiate change, needs to have that ambition reflected in everything. From its founding in 2013, FinCo Fuel has ensured that the sustainability of the energy market has become more firmly anchored in the organization's DNA and strategy every year. Not only by continuously greening our own processes and adapting them to the new times, but also by investing in cleaner fuels, which also allows our customers to reduce their CO2 emissions.