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Saturday, December 3, 2022

(CSE:TSF) Tracesafe Pivots to Providing Carbon Solutions

TraceSafe Inc. (CSE: TSF) (“TraceSafe”) is a global leader in location-aware Internet of Things (IoT) platforms for large-scale industrial and enterprise operations.

The Company pivoted from providing IoT wearables solutions to providing Carbon Solutions. Knowledge gained in the wearables space has efficacy in the Smart Cities and Carbon Space. 

A Smart City is a technologically modern urban area that uses different types of electronic methods and sensors to collect specific data. The information gained from that data is used to manage assets, resources and services efficiently; that data is used to improve operations across the city.

Carbon space is the amount of carbon (or CO2) that can be put into the atmosphere without this leading to a level of warming—or underlying concentrations of CO2—that can be considered dangerous or otherwise undesirable.

Wayne Lloyd, the TraceSafe CEO, stated, “Organizations are being driven to decarbonize by all major stakeholders, yet they aren’t able to reliably measure their emissions or access efficient decarbonization opportunities. With ShiftCarbon, our vision was to offer solutions that would help customers address their immediate needs, irrespective of where they stand in their net-zero journey,” Organizational climate goals cannot be met overnight. Still, with intelligent innovations, we are optimistic that they can be accelerated. Leaders who embrace our solution now will be able to drive sustainable growth for their organizations and a sustainable future for the planet.”

One large sector that has been looking for ways to slash emissions is the Cruise business. TraceSafe, a tech startup, boasts large clients such as Royal Caribbean(RCL: NYSE) and Viking Cruises (private), which has the technology to decarbonize the big ships with its novel carbon capture technology.

Vancouver-based tech TraceSafe(TSF: CSE) already has contracts with large enterprise customers like Royal Caribbean and Viking Cruises. TraceSafe has already developed custom wearables for passengers and employees aboard their ships, giving it a competitive edge for the deployment of its Carbon reduction applications.

“It was the willingness of the TraceSafe team to develop a custom Tracelet™ device that met our requirements for style and design that propelled the partnership forward,” said Jay Schneider, SVP and Chief Innovation Officer (CXO) at Royal Caribbean. “We look forward to continuing this engagement with TraceSafe as we explore the many new IoT technology opportunities onboard our ships*.”*

Current Use Cases for Bracelets onboard:

  • Contact Tracing for COVID
  • Wristbands serve as a room key
  • Wireless payment method
  • It acts as an instant messaging device so cruise operators can send mass communications to all passengers.
  • Help cruise lines improve logistics by analyzing location data better to understand the movement of passengers around the ship.
  • Depository of personal medical records

Carbon, Carbon, Everywhere.

Ships emit ~1 billion tonnes of greenhouse gas yearly, more than airplanes. The transportation industry is responsible for 25 percent of GGE; airplanes alone are 12 percent.

The new International Maritime Organization (IMO) regulations require the shipping industry to cut emissions by 40% by 2023.

New Maritime regulations drive changes in the shipping and cruise industry to reduce emissions. Traditionally, the Maritime industry is very dependent on Fossil fuels. Unlike Electric Cars, the near-term solution does not currently exist for large vessels due to the energy requirements to transport large volumes of goods over long distances.

TraceSafe’s New ShiftCarbon Solution

ShiftCarbon is the company’s biggest launch since its award-winning platform for enterprise safety, AllSafe. ShiftCarbon will consolidate critical climate data for SMBs and help them reduce their carbon footprint using high-quality offsets. It is a highly modular platform built to support organizations wherever they are in their journey toward carbon neutrality and net zero. ShiftCarbon will enable:

  • Transparent and credible offset purchases from verified projects across the world
  • Mitigation plan powered by asset-level data and insights using sensors and IoT
  • Reporting frameworks for compliance and stakeholder engagement
  • Measurement of Scope 1,2 and 3 carbon emissions across the supply chain

In addition to ShiftCarbon, TraceSafe has launched ThermoSense- a sensor-based approach to a sustainable supply chain, followed by the acquisition of Offsety- a carbon offset marketplace for managed decarbonization and most recently, the launch of its events emissions calculator that will help global sporting events reach net-zero faster.

Carbon Capture Technology Aboard Oceanliners

Summary

We believe that ESG trends within the Maritime Industry, coupled with TraceSafe’s existing customers, such as Royal Caribbean and Viking, puts them in a superior position to secure new clients and upsell to their existing customers.

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