Some blockchain start-ups to watch

‍SG-Forge

On 30 November 2023, Societe Generale took a major step forward in sustainable finance by issuing its first digital green bond. Through its blockchain subsidiary SG-Forge, the bond was registered as a "Security Token" on the Ethereum blockchain. This initiative, fully subscribed by AXA Investment Managers and Generali Investments via a private placement, is a concrete case that materialises the interest of this technology to promote transparency and traceability of ESG (Environmental, Social and Governance) data.

The transaction, for an amount of 10 million euros and a maturity of 3 years, aims to finance or refinance green activities. This issue marks a step forward in the digitisation of financial instruments but also represents a significant advance in the use of blockchain as a certification tool and data repository to improve the overall transparency of ESG data.

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Dowgo

Dowgo is a French company that uses blockchain technology to innovate in the renewable energy sector. Positioned as a B2B platform, it connects renewable energy developers with professional investors, facilitating access to renewable energy projects through the use of renewable energy yield tokens (REYTs).

These REYTs are essentially digital representations of a share in a wind or solar farm, allowing investors to own a green energy token that corresponds to a credit against the facility's future energy production. This method offers a monthly return to holders, which is correlated to the price at which the farm operator resells the electricity produced. This is a pioneering approach in renewable energy, offering a new route for investment in green energy infrastructure.

Dowgo's approach to tokenisation enables real-time monitoring of energy production through integration with the IoT of energy assets, providing investors with unique exposure to energy prices. This method diversifies beyond traditional financial returns and ensures automatic and transparent distribution of asset production revenues to stakeholders via smart contracts. Each Dowgo token represents 1 kWh of energy per month for a defined period, with a minimum investment starting at just 1 euro, offering flexibility and 24/7 transferability with no lock-in period.

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Carbonable

Carbonable is a French start-up positioned in the carbon offset sector using blockchain technology to secure transactions and guarantee data integrity. It offers a platform that digitises carbon assets, making data on carbon contributions verifiable. Carbonable ensures the integrity of contributions by dynamically aggregating key data from all projects and asset types, providing a unified grid that simplifies the management of carbon contributions reliably and efficiently.

In 2023, Carbonable successfully raised €1.2 million from investors including Ethereal Ventures, La Poste Ventures and StarkWare. This fundraising marks an important milestone for the company, which aims to become a benchmark technology partner for companies wishing to manage their carbon contributions effectively. 

Carbonable uses NFTs to enable companies to offset their carbon emissions securely. Companies can purchase a Carbonable NFT, entitling them to shares in a nature regeneration project that generates annual carbon credits. These credits can then be resold or used to offset their own carbon emissions.

Carbonable's mission goes beyond carbon offsetting: it aims to provide transparent and accessible carbon credit management. The company targets both businesses and individuals, investing in certified nature-based projects, with a focus on biodiversity, impact on local communities and carbon absorption. Carbonable's platform allows users to monitor their carbon capture supply with real-time impact reports, using blockchain for traceability and transparency.

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