Technologies New Energy (LSE:TNE) announced on Friday that its subsidiary Diverfuel has launched Covenant, a business-to-business compliance, traceability and trading platform for the sustainable fuels supply chain.
The London-listed energy-transition engineering and technology company focuses on power infrastructure for AI data centres alongside sustainable aviation fuel (SAF) and biomass-to-power (B2P) projects, and is developing a portfolio of four such projects in Portugal.
Covenant targets the evidence requirements producers face under European regulatory frameworks including RED III, ReFuelEU Aviation and FuelEU Maritime, recording feedstock origin and chain of custody while calculating a per-lot carbon-intensity measure called the IC Score, built to a methodology aligned with RED III's calculation requirements.
That verified data feeds a marketplace where producers and suppliers can list verified green commodities and buyers can compare and purchase them on a consistent carbon-intensity basis.
More than 25 companies, spanning both producers and off-takers across the sustainable fuels supply chain, have contracted to participate at launch.
"Launching with more than 25 companies already contracted demonstrates its commercial potential," said Julio Perez, chief executive of Technologies New Energy.
Covenant is available to producers, traders and off-takers with immediate effect.
