- TYMLEZ Group’s (TYM) TROEF consortium agreement has been approved for a funding grant from the Dutch Government
- Under the agreement, the company will collaborate with leading Dutch enterprises and institutions to develop Internet of Energy solutions
- TYMLEZ will be responsible for developing a carbon credit trading solution, using its existing energy marketplace and blockchain technology
- The Dutch Government has awarded the consortium with an initial project grant of €675,000 (approximately A$1.05 million) over four years
- TYMLEZ Group is up 10 per cent and trading at 4.4 cents per share
TYMLEZ Group’s (TYM) TROEF consortium has been approved for a funding grant from the Dutch Government.
The initial project grant is worth €675,000 (approximately A$1.05 million) over the next four years.
In October 2020, the software company signed the agreement with a number of leading Dutch enterprises and institutions. The consortium includes companies such as construction firm Royal BAM Group, telecommunications and IT provider KPN, industrial tech provider ICT Group and the conglomerate Stedin Group.
Under the agreement, TYMLEZ will collaborate with members of the consortium on the TROEF Project, or the “Transparent Reduction of CO2 and Optimisation of Energy in an Ecosystem of Flexibility” Project.
The TROEF Project hopes to provide local energy communities with solutions to reduce carbon dioxide production in the Netherlands and accelerate the transition to more efficient energy management.
In the combined effort to develop such Internet of Energy solutions, the company will be responsible for creating a carbon credit trading solution. TYMLEZ will do so by utilising its existing energy marketplace and blockchain technology.
TYMLEZ Group’s CEO, Daniel O’Halloran, commented on the company’s participation in the TROEF consortium.
“We are excited to be working with some of Europe’s largest companies to develop and deploy an innovative energy management solution,” he said.
“I’m excited by this important, industry-defining project and looking forward to our cooperation with our Dutch consortium partners,” he added.
TYMLEZ Group is up 10 per cent, trading at 4.4 cents per share at 3:56 pm AEDT.