About Grexel
We are the clean economy business infrastructure company
Grexel Systems Ltd. provides core business infrastructure solutions and services for green commodity markets and environmental banking. Our full-service package includes central registry system provision, issuing body services, market design and regulatory development.
Our customers are government bodies and other organisations mandated to arrange the issuing and trade of environmental commodities, such as Guarantees of Origin or green certificates.
Core Market Technology
Grexel develops and maintains flexible and dependable software solutions for tracking the ownership of environmental value. Our central registry systems are used by government bodies such as regulators and transmission system operators to facilitate, for example, Guarantees of Origin and green certificate schemes. We offer them all-inclusive service packages, rather than simply software projects.
Regulatory Development
In addition to providing technical infrastructure, Grexel also helps relevant authorities to design these new markets. We have in-depth knowledge of both the market dynamics and the technology for trading in green commodities markets. Our extensive experience is based on Grexel’s active involvement in implementation of trading schemes in various countries over the years.
Issuing Services
Grexel is the most significant EECS® (European energy Certificate System) issuing body in terms of countries and certificate schemes covered. We also rank second in terms of issued energy volumes. Grexel’s operating model and the issuing process is based on Guarantee of Origin as defined in relevant EU directives and national legislations.
Do you want to learn more about central registry systems and certificate markets? Contact Grexel.
Relevant Directives regulating issuing and usage of energy certificates in the EU/EC:
- RES directives 2001/77/EC, 2009/28/EC
- Internal Electricity Market directives 2003/54/EC and 2009/72/EC
- Co-generation directive 2007/8/EC
Related links
AIB, Association of Issuing Bodies
Downloadable files
Grexel Brochure
Cleantech Finland Grexel Fact Sheet
Our approach
Reinventing the wheel has never been a good idea
Are you in an organisation tasked to establish a system and related business processes to facilitate the tracking of ownership of environmental certificates, credits or allowances? The assignment may seem daunting; you have to tender and coordinate a software project that can be time consuming, risky and costly.
Here comes the good news: Grexel has already done most of the work for you. We have put thousands of man-hours into thinking out the business processes as well as designing, implementing, testing and deploying our registry software. Consider it done!
Business Solutions. Not Software Projects.
Yes, we make use of software, hardware and data communications to put together a solution. But our offering is an all-inclusive Software as a Service (SaaS) package. Our service offering is much more attractive than mere development services because:
No Investment required. In our service model, you don’t invest in software. You pay for the service for as long as you are happy with it. And if you like, you can easily pass service fees on to the users of the service, such as producers and traders.
Less work. In addition to software, Grexel provides the parts of the business infrastructure you need.
Cost transparency over the whole lifecycle. You can easily calculate the total cost of ownership.
Lower costs. Our service offering covers several cost elements traditionally left to the customer. These include:
- Software updates due to changing directives and international standards
- Hardware investments, upgrades and maintenance
- Third party software licenses, upgrades and maintenance
- Testing
- System operation and maintenance including necessary upgrades to software.
- Administrative...
Our customers
Our central registry systems are already in use in Denmark, Finland, Germany, Luxembourg, Norway and Sweden. Our customer organisations include:
- ministries
- regulatory bodies
- transmission system operators
- energy producers and suppliers
Swedish certificate management system, Cesar
The Swedish national support certificate scheme, effective from January 2003, is a perfect example of Grexel’s long-term commitment to continuous development. With our tailor-made system, the national electricity grid operator, Svenska Kraftnät issues certificates on meter readings from approved production devices and manages a certificate register. The system is also used to monitor that the national quota obligations are fulfilled.
The Institut Luxembourgeois de Régulation, ILR
ILR needed a straightforward solution as their electricity certificate scheme based on EECS® in Luxembourg. They chose Grexel for our ability to provide them with a turn-key solution tailored to their markets.
Renewable energy resources project, Croatia
The goal of the project was to create a system that conforms to the latest RES directive’s Guarantee of Origin requirements and is harmonised with main European markets. The technical infrastructure is based on CMO.grexel.
Solid craftmanship in the art of energy certification
Grexel is a pioneer in energy certificates business. Our experts have more than 35 years of cumulative experience in energy certificate markets and central certificate registries.
Grexel is the EECS Issuing Body of Guarantees of Origin in Finland and Sweden and long time member of the AIB. Us being an Issuing Body gives Grexel unique insights on challenges other issuing bodies are facing when designing and creating new certificate markets.
In addition, Grexel manages and further develops central registries for Denmark, Germany, Luxembourg and Norway. In total, some 700 TWhs of electricity certificates have been issued and traded in registries developed and managed by Grexel.
ADDITIONAL INFORMATION
Grexel Track Record
- Swedish Support Certificate system Cesar 2003–
- Implementation of GO system for Croatia 2009–2010
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RECSCMO – Nordic EECS registry
2001– - GrexCMO – Finnish and Swedish EECS registry 2005–
- CMO.grexel, new registry platform for 6 countries 2008–
- Active participation in EPED, RE-DISS, AIB and Cleantech Finland
Company background
Early in 2003, Marko Lehtovaara, former CEO of Absolutions Ltd. established Grexel to be a new, highly focused player in the environmental commodities market. Our mission has been clear from the beginning: To enable free market mechanisms for green energy.
To get a jump start, Grexel acquired an environmental registry business and hired key personnel from Absolutions – a certificate registry business market leader at that time. We soon extended our scope to also cover other parts of the value chain of the new industry.
In 2006, Grexel Joined AIB and became the issuing body for EECS certificates in Finland and Sweden. By end of year 2006 Grexel had become the leading central registry provider and the largest issuing body of renewable energy certificates in Europe.
The next big step was the development of our new technology platform, Grexel Certification Framework (GCF). The first registry based on GCF, CMO.grexel went in production fall 2008. Now all newly developed registries as well as registry services utilise the GCF.
Grexel has always been soundly financed and profitable. We have been awarded with a triple A rating since 2008. Grexel, with headquarters in Helsinki, Finland, has a product development center located in Chennai, India.
Founder Marko Lehtovaara