We’re excited to share our new investment announcement, especially as this marks our transition to double digits in our portfolio. Renewable energy is at the heart of the global energy transition and is critical in achieving sustainability goals. Energy providers struggle to prove the origin of renewable energy sources transparently, making it difficult to meet regulatory requirements and consumer demands for hourly green energy guarantees. Developing tracking systems can be costly and complicated for companies, leading to inefficiencies, compliance risks, and declining consumer trust.
Blok-Z’s GreenLink platform, which provides “hourly carbon-free energy matching,” solves all these issues. GreenLink offers energy providers hourly energy verification, automatic compliance, and transparent data access for consumers while reducing operational costs, helping to prove the origin of green energy sources, and building trust.
Current Dynamics and Regulations
Recent EU, US, and UK regulations require real-time tracking and hourly matching of renewable energy to prevent green-washing and promote the genuine use of renewable energy. Companies like Google, Microsoft, and other leading tech firms have committed to 100% carbon-free energy (24/7 CFE) by 2030, further increasing demand for accurate tracking solutions, with Google leading the way in this effort. The growing interest from industry leaders in renewable energy certificates and 24/7 solutions points to a trend towards enhanced energy tracking and sustainability practices, and by 2028, most industries will be required to switch to hourly energy matching, making solutions like GreenLink essential for energy providers.
Why Blok-Z?
The renewable energy tracking market is expected to be worth $16.19 billion globally by 2024. The renewable energy certification market is growing rapidly, with an expected annual increase of 27.7% from 2023, reaching $114.87 billion by 2032. Blok-Z targets over 6,600 US, European, and UK energy providers, focusing on this significant opportunity. The value of this market is anticipated to reach around $5.82 billion in 2024.
Founded by Selim, Erhan, and Mo, we believe in Blok-Z’s potential for growth in the US. Blok-Z’s industry-veteran founders have overcome numerous challenges and adapted well to industry changes to reach their current position. With a successful global sales record, Blok-Z is now in an ideal position as the sector matures in terms of regulations and current dynamics. As Simya VC, we are investing in Blok-Z, which aligns with our vision of investing in a founding team focused on global growth and success.
Welcome to the Simya VC Portfolio, Blok-Z!