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#StartingUpWith: T-RECs.ai

In this edition of #StartingUpWith, we have Kang Jen Wee, Founder and CEO of T-RECs.ai Pte Ltd. T- RECs.ai prides itself in making Renewable Energy Certificates (RECs) available for purchase to individuals and small businesses through a transparent and efficient platform. Read on to find out how T-RECs.ai has been doing its part in countering the effects of global warming through the platform.

  1. What is the story behind your startup?
    • I wanted to create a trading platform to democratise the Renewable Energy Market via the use of advanced blockchain technology. The reason for starting this business was because of the inefficiency and opacity of the Renewable Energy Certificates (RECs) transaction processes in the past, which is still happening at present. RECs purchases have predominantly been done through brokers and are restricted to large corporations due to the high costs. Furthermore, double claims and trading frauds are difficult to capture. Our platform addresses most, if not all of these issues. With the help of technology, our platform is transparent, secure and allows small power producers and small users to trade RECs at minimum cost. This will accelerate the adoption and increase the demand for green energy, in turn reducing the demand for highly polluting coal and fossil fuel power plants.
  2. What was the biggest challenge faced by your startup, and how was it resolved?
    • The biggest challenge comes in educating our stakeholders on this renewable energy certificate concept to stakeholders and general electricity users in the Asia market. We continue to work with partners like EcoLabs and other technology collaborators to reach out to relevant groups. Leveraging on the network of local environmental groups, we tap on available resources to amplify the call for green action. We have also struck up a working relationship with electricity retailers to target homeowners and SMEs, and aim to continue spreading the message via joint marketing efforts.
  3. What was your startup’s proudest moment?
    • We collaborated with PacificLight, an electric power generator and retailer in Singapore to launch the Sunny Side-Up 12 Plan in November last year. This new green plan offers a fully transparent renewable energy option residential consumers in Singapore, and close to 8,500 PacificLight customers have since received renewable energy certificates issued by T-RECs.ai.
  4. What is your collaboration with EcoLabs about?
    • Our collaboration with EcoLabs includes project commercialisation, as well as knowledge and market information sharing.
  5. Where do you see your startup in 1/2/3 years, and what part can EcoLabs play in this?
    • We want to be the leading renewable energy platform in 2 years, and we think EcoLabs’ innovation capability, network and resources will help to accelerate our startup.
  6. Describe your startup in one word, and why.
    • It will be “differentiator”. What we did was to put our thoughts into building a functional platform for consumers worldwide to transact and track renewable energy certificates, which in turn accelerates the development of renewable energy sources globally.