Midland-based Dow Chemical Co. (NYSE: DOW) Wednesday announced it has signed as a founding member of Altenex, a private and secure network that enables member companies to more efficiently implement their alternative energy and greenhouse gas reduction efforts.
Dow will serve as the exclusive chemical company on Altenex’s founding advisory board. In this role, Dow will leverage its greenhouse gas and energy management leadership to provide direction for the creation of Altenex’s network and service offerings.
“Dow believes Altenex will create new ways to do business in the rapidly evolving alternative energy markets by providing more clarity, accessibility and communication between participants, closing the gap between clean energy project developers and carbon compliance buyers,” said Doug May, vice president of energy and climate change at Dow. “While there is still political uncertainty about carbon markets and trading, Dow is taking action to establish a flexible, market-based approach to address our clean energy goals and carbon emissions.”
Altenex will enable Dow to efficiently connect with developers and suppliers of clean energy and carbon offsetting assets. As a first step, Dow is using the Altenex network to communicate their needs and identify low carbon energy development partners to provide clean power for their facilities. Future activities will include origination and trading of carbon and renewable energy credits.
Said Lane Sloan, chairman of Altenex: “Dow’s commitment as a solutions provider and extensive experience in global footprint management offers us an essential level of insight as we continue to shape our product offering. We look forward to helping Dow meet its clean energy and carbon credit needs with low carbon energy suppliers and service providers within our network.”
Dow’s pioneering leadership in energy efficiency has led to a 38 percent reduction in energy intensity since 1990, saving nearly 1,700 trillion BTU, or the equivalent of the electrical energy used by all residential buildings in California for a full year. As a result of Dow’s corporate energy efficiency and conservation program, Dow has prevented more than 90 million metric tons of carbon dioxide from entering the atmosphere.
More at www.dow.com.
Altenex is an energy and emissions management network that connects companies to low carbon energy solutions and service providers worldwide. Companies also use Altenex to originate, trade and manage carbon and renewable energy credits. Altenex allows members to efficiently communicate their unique clean energy and carbon offsetting needs to a large audience of qualified service providers who respond to proposals and place bids on projects through the company’s secure, technology based marketplace platform. Altenex was founded in 2008 and operates from offices in Boston, Massachusetts and Houston, Texas. For more information about Altenex, visit www.altenex.com.
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