LOCAL CARBON MANAGEMENT CONSULTANCY SECURES TECHSTART FUNDING FOR ONLINE CARBON MANAGEMENT PLATFORM

Posted By:
SDS Energy

9th Feb 2022

Belfast-based company, CarbonFIT has secured investment funding from Techstart Ventures to further
develop its Energy & Carbon Management platform, developed to manage, measure, and improve Carbon Emissions for business and industry.

Businesses around the world are on a journey to Net Zero. However, the gap between intention and action needs to be carefully navigated to realise these goals. According to a recent report from the Federation of Small Business NI, almost three-quarters (74%) of small businesses in Northern Ireland said they did not know how to measure carbon emissions. Carbon Footprint Assessment is a pivotal part of the Net Zero journey; it is impossible to reach your destination without knowing your starting point.

The CarbonFIT solution aims to meet the needs of SMEs and larger industry, including Manufacturing, Food & Beverage, Hospitality, Pharmaceutical, Mining, Healthcare, Public Sector and Construction. The online science-based solution will determine Footprint Measurement (F), Initiate Improvements (I) and TrackProgress to Net Zero (T).

Businesses are under increasing pressure from legislation, stakeholders, and investors to disclose Carbon
emissions and formalise commitments to carbon reduction. CarbonFIT will manage all relevant disclosures, including Carbon Footprint Certification, Carbon Reduction Plans, and other mandatory reporting such as Streamlined Energy and Compliance Reporting (SECR) and the Energy Savings and Opportunity Scheme (ESOS).

The initial CarbonFIT product has been a great success in engaging with clients about their current Carbon Footprint. However, the Concept Plus funding secured from Techstart will accelerate the next stage of software development and allow the product to capture the emerging needs of Scope 3 supply chain measurements and improvements.
Stephen Dunn (Director, CarbonFIT) said, “This investment will position us to support clients, manage new regulations and prepare for emerging demands of carbon taxes and clients’ carbon reduction
requirements. Techstart was incredibly supportive of the need for this product locally and
internationally.”