TYMLEZ and DOVU Carbon Credit Integration
ASX: TYM
TYMLEZ is excited to announce the successful integration of the TYMLEZ Platform with DOVU’s carbon credit platform. This integration will enable customers to purchase fully verified carbon credits directly through the TYMLEZ Platform.
The successful integration is another great step forward for the Hedera regenerative finance ecosystem as both TYMLEZ and DOVU operate on the Hedera network, one of the world’s greenest, scalable, and cost-effective distributed ledger networks.
Many companies in Australia and abroad are purchasing carbon credits to offset their greenhouse gas emissions and mitigate their impact on the environment. Carbon offsetting allows companies to invest in projects that reduce or remove carbon dioxide from the atmosphere, effectively neutralising the emissions that their operations produce. This can help companies meet their sustainability goals, comply with various regulations and laws, and improve their reputation among consumers, investors, and other stakeholders. Additionally, carbon offsetting can also be a cost-effective solution for companies to achieve emissions reductions without having to make significant changes to their operations or processes.
As deadlines fast approach for companies to meet their net zero or emission reduction targets, there has been an increased demand for carbon credits. Through TYMLEZ’s partnership with DOVU, companies can purchase high-quality carbon offsets directly from the TYMLEZ Platform, with reductions being tied to verified emission sources.
Speaking on the completion of the integration, TYMLEZ Executive Chairman and Acting CEO, Daniel O’Halloran, said,
“Our partnership with DOVU further strengthens our offering to the market by allowing our customers to offset their carbon emissions more efficiently. With DOVU also building upon the Hedera network, we can easily integrate the carbon credits our customers purchase directly into their net carbon balance on the TYMLEZ Platform and also provide end-to-end visibility of the carbon credit value chain, allowing for trusted and transparent decarbonisation.”
Irfon Watkins, CEO and Founder of DOVU, said,
“Our partnership with TYMLEZ is an exciting step forward in the tokenisation of carbon assets. TYMLEZ customers can now seamlessly offset their emissions with complete confidence in their purchase’s provenance.
At Dovu we enable carbon projects of all sizes to access our marketplace, enabling small farms from around the world to participate in the carbon economy. Our public audit trail, utilising the Hedera network, ensures buyers can have full visibility of the projects they support.”
Both TYMLEZ and DOVU utilise the Hedera hashgraph network and both companies form part of the Hedera ESG ecosystem. Solutions such as the TYMLEZ Platform require a high-performance network which can support the throughput required to ingest data from complex industrial applications to provide green assurance. TYMLEZ partnered with the HBAR Foundation in early 2021 to supports its transition to the Hedera network and since then has deployed solutions for a number of clients which leverage the capabilities of the Hedera network. TYMLEZ has also partnered with several other companies building upon the Hedera network to deliver world-class solutions to clients.
TYMLEZ is looking forward to continuing its partnership with DOVU and offering customers the ability to purchase fully verified carbon credits directly through the TYMLEZ Platform.
About TYMLEZ
TYMLEZ (ASX: TYM) is a pioneer in the development and delivery of carbon reporting and guarantee of origin solutions. TYMLEZ provides companies across the globe with world-class solutions designed to empower them in their decarbonisation journeys.
Visit tymlez.com for more information
About DOVU
We’re building the trust layer for carbon offset integrity. We implement carbon sequestration practices to tokenise carbon credits. This makes it easy for organisations to offset their carbon footprints with carbon that’s sourced directly from farmers. Firstly, they can identify how much carbon they need to offset their footprints (using our Carbon Calculator). And then purchase offsets on the DOVU Carbon Market. Powered by Hedera Hashgraph, the DOVU Carbon Market is designed to facilitate offsetting in real-time. And our DOVU utility token (DOV) provides access to the DOVU platform and marketplace. The climate crisis we face affects all of us. That’s why our global community is open to all.
About the HBAR Foundation
The HBAR Foundation supports the creation of Web3 communities built on the Hedera network, by empowering and funding the builders developing these communities. The Foundation’s six funds — focused on the Crypto Economy, Metaverse, Sustainability, Fintech, Privacy, and Female Founders — each support communities within those areas, and the interconnectedness enables applications to participate as part of a larger ecosystem.
The collective power of these funds enables entrepreneurs, developers, and enterprises of all sizes to tackle some of the world’s largest problems, and create and control their own economies, all built on the Hedera public network. Whether you’re building something new or migrating an existing EVM-based application and community, the HBAR Foundation is here to support you. For additional information, please visit https://hbarfoundation.org.
For any queries relating to this announcement, please contact:
Corporate
Matthew Park
SVP Corporate & External Affairs
Matthew.park@tymlez.com
Media
Janine MacDonald
Senior Advisor
Janine.macdonald@plcorporate.com.au
