Sources: Xpansiv CBL Holding Group, San Francisco; CP staff
Solidia Technologies, New Jersey-based developer of a portland cement and conventional concrete alternative, is teaming with Xpansiv CBL Holding Group (XCHG) to develop an asset class of tradable digital products that prove “superior environmental provenance” in construction specifications. After third-party verification, data XCHG captures in each step of Solidia Cement and Concrete production and placement will be translated into Digital Feedstock, a proprietary, standardized format combining data science, cryptography and distributed-ledger technologies.
The platform equips users to bundle and transact critical environmental data—traceable from source to market—in conformance with established quantification protocols. Digital Feedstock developers envision differentiation, where “commodities can be valued based on vital information that was invisible.”
“[We] are pioneering a new frontier in the cement industry,” says XCHG Director of Sustainability Development Jeff Cohen. “Digital Feedstock enables market participants to transact the true value of Solidia Cement by digitally certifying its lower-carbon and lower-water attributes. For the first time, large-scale industrial consumers will be able to seamlessly connect sustainability ambitions with procurement decisions.”
“There is plenty of talk about carbon-footprint reduction, but we can prove it,” adds Solidia CEO Tom Schuler. “Our technologies allow precise measurements of carbon-emissions reductions in the production of Solidia Cement, and carbon consumed in the curing of Solidia Concrete. Translating that data into Digital Feedstock will wholly disrupt the way the cement industry meets consumer demand for accountability and sustainability, while introducing a new, quantifiable source of value to the global concrete industry.”
“This will be a game-changer for environmental, social, and governance metrics in the cement industry,” he contends. “By packaging impact data in a transactable format, we’re providing a clear path for market participants to claim the sustainable benefits of our products in a way that makes sound financial sense in today’s resource-constrained world.”
XCHG and Solidia are part of the BP Ventures portfolio under London-based energy giant BP Plc. “Combining XCHG and Solidia technologies will create a unique, low-emissions digital fingerprint for future cement and concrete production,” notes BP Ventures Chief Investment Officer David Hayes. “Bringing together two of our portfolio companies is a great example of how BP Ventures is fostering innovative new energy businesses that will support—and accelerate—the transition to a low-carbon economy.”