SustainCERT specialises in the implementation of solutions for the verification of greenhouse gas emission reduction projects and the accounting and reporting of decarbonisation activities linked to companies’ supply chains. The company has recently announced that it has raised US$10 million to further its development.
The funds raised are provided by Citizen Capital, Innovacom and the Microsoft Climate Innovation Fund. This financial injection will help the company become a global leader for verification and certification solutions in carbon markets.
Launched in 2018, SustainCERT is a spin-off of the certification activities of the Gold Standard Foundation, of which it is an official certification body. This digital platform for the certification of carbon offset projects is used for the verification of greenhouse gas emission reductions and removals, and digitises the processes of data collection, calculation and verification.
It has already successfully supported more than 1,200 projects in various sectors such as energy, land use, waste management and community services.
“After some initial email exchanges to confirm our eligibility for the R&D support measure, we were impressed by the professionalism, responsiveness and quality of the support we received from Luxinnovation. The process was particularly smooth and always constructive,” says Marion Verles, CEO of SustainCERT. “Each time, the turnaround time to receive feedback was extremely short, from a few hours to a couple of days maximum. The feedback was always really constructive and helpful. We were impressed with Luxinnovation and their team.”
The first contacts between SustainCERT and Luxinnovation date back to September 2020. At that time, the Livange-based start-up was planning an ambitious digital innovation programme in the field of greenhouse gas accounting and verification, aimed at making the process for certification affordable, accessible and attractive by leveraging technology.
“Such a project required the alignment of a range of internal and external resources, from finding and hiring highly qualified personnel to manage the innovation project in Luxembourg, to securing the next round of capital increase to complement government support,” says Avit Blanchy, Senior Advisor – Corporate R&D and Innovation Support at Luxinnovation. “We were happy to work with this talented and visionary team. We presented them the Luxembourg R&D and innovation support programme and helped them shape-up their application as it progressed.”
A perfect complement to the Luxembourg ecosystem
In recent months, SustainCERT has extended support to companies in reducing emissions linked to their supply chain, by being one of the founding members of the Value Change Initiative.
This international collaborative program brings together more than 60 leading companies in 8 sectors of activity, with the objective of clarifying and standardising the measurement of greenhouse gases linked to supply chains. The aim is to establish sector-specific accounting standards.
“Our priority now is to deliver the SustainCERT platform and the first digital software to verify and certify carbon credits for grid-connected renewable energy projects,” says Marion Verles. “Through our software solutions, our goal is to accelerate progress towards the Paris Agreement and sustainable development by making it simple and affordable for companies to adopt credible third-party verification of their environmental impacts.”
“As an innovative, digital and environmentally focused company, SustainCERT usefully complements Luxembourg’s local ecosystem with global impacts,” concludes Avit Blanchy. “We look forward to working with the company again to secure the support of the Luxembourg Ministry of the Economy for the next steps in its research and development roadmap.”
Picture on top: (c) Gold Standard