ASX: TYM
TYMLEZ Group Limited (“TYMLEZ” or “Company”) is delighted to announce a strategic partnership with the HBAR Foundation Sustainable Impact Fund, which funds projects focused on increasing transparency in environmental markets on the Hedera network.
Governed by some of the world’s largest organisations, Hedera is a 3rd generation distributed ledger, providing TYMLEZ with capabilities not possible through legacy blockchain technologies. This gives TYMLEZ the ability to offer fully scalable, enterprise grade, sustainability reporting solutions, comprising signed, real-time, granular, carbon relevant data, ingested directly from IoT devices.
TYMLEZ will partner with HBAR Foundation to develop one of the world’s most secure, trusted, and scalable carbon reporting solutions for ESG compliance, Guarantee of Origin (GO), and Voluntary Carbon Market (VCM) ecosystems, leveraging TYMLEZ’s ability to ingest encrypted and verified data directly from IoT devices.
As part of the partnership, TYMLEZ has been awarded a US$1 million (approx. AU$1.4 million) grant by the HBAR Foundation, a fund dedicated to growing the Hedera ecosystem, and will receive US$100,000 (approx. AU$140,000) as an upfront payment. The grant will be progressively drawn down by TYMLEZ on the achievement of development milestones over the term of the grant (4 years). TYMLEZ does not expect to incur any material expenses associated with claiming down on the grant. Either party is eligible to terminate the grant for non-performance.
The grant, which has taken immediate effect, is benchmarked against the successful delivery of 10 key milestones including the delivery of closed and open-source software (where TYMLEZ will remain the sole owner and retain exclusive usage rights to closed source software and be compensated for the usage of any open source software), development of digitised carbon policies, hardware integration, and customer onboarding.
The partnership is the culmination of six months of close collaboration between TYMLEZ and the HBAR Foundation to develop leading edge carbon reporting solutions for ESG compliance, GO, and VCM ecosystems, not yet available in the marketplace. This close working relationship has enabled a robust integration between the TYMLEZ Platform and the open source Guardian on Hedera.
Partnering with the HBAR Foundation is expected to enable TYMLEZ to accelerate the rollout of solutions with industry partners and governments in Australia and abroad. The capabilities of the TYMLEZ Platform are now further enhanced by the support of Hedera’s innovative technologies.
Prior to the partnership, TYMLEZ had been developing its own blockchain technology known as TBSP (TYMLEZ Blockchain Solution Platform). With recent advances in blockchain technology, TYMLEZ completed a migration of relevant TBSP modules to the new TYMLEZ Platform to overcome scalability constraints that would have otherwise limited the Company’s growth opportunities. TYMLEZ will continue the evolution of its technology on the Hedera network.
After an extensive global search, and researching several leading blockchain and distributed ledger platforms, TYMLEZ is excited to use the Hedera network with its ability to process large numbers of transactions with a predictable fee structure, its public consensus service, and low energy usage – all directly aligned with TYMLEZ’s core strategic focus and ethos of “sustainability first.”
Hedera offers the greenest distributed ledger platforms in the world, with energy usage as low as 0.00017 kWh per transaction. This provides TYMLEZ’s clients with the assurance that when their requirements grow, the solution remains cost effective and most importantly, green.
Speaking on the partnership, TYMLEZ CEO, Daniel O’Halloran, said:
“The TYMLEZ team are incredibly honoured to be the first Australian recipient of this grant from the HBAR Foundation’s Sustainable Impact Fund. We are committed to delivering secure and trusted ecosystems to our clients that not only generate trusted and verifiable ESG reports or certificates, but provide a level of accuracy and transparency to our clients that is unmatched in the market.
Working with Hedera has been crucial in securing recent pilot programs with major state governments and resource sector clients. We see the grant which we have been awarded by the HBAR Foundation today, as the next step in our further integration with the Hedera ecosystem. We look forward to an ongoing and prosperous relationship between our organisations.”
Rob Allen, Senior Vice President – Ecosystem Acceleration, from the HBAR Foundation said:
“TYMLEZ is a proven leader in Web3 solutions. At the HBAR Foundation we are supporting TYMLEZ’s growth as they use Hedera to accelerate their business through adopting and scaling open source, decentralized climate technology.”
Wes Geisenberger, Vice President – Sustainability and ESG, from the HBAR Foundation said:
“TYMLEZ is paving the way for institutional adoption of Distributed Ledger Technology. Through the adoption of the Guardian and implementation of the TYMLEZ Platform in government and enterprise TYMLEZ will be improving auditability of emissions, guarantees of origin, and carbon offsets making it easier for ESG transparency at scale.”
Authorised by the TYMLEZ Board of Directors.
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For any queries relating to this announcement, please contact investors@tymlez.com
ABOUT HEDERA
The Hedera network is the most used, sustainable, enterprise-grade public ledger for the decentralized economy. The platform is governed by a council of the world’s leading organizations, including Avery Dennison, Boeing, Chainlink Labs, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, IBM, the Indian Institute of Technology (IIT), LG Electronics, Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, Ubisoft, University College London (UCL), Wipro, and Zain Group.
For more information, visit www.hedera.com, or follow us on Twitter at @hedera, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/papers.
ABOUT THE HBAR FOUNDATION
Founded in 2021, the HBAR Foundation fuels the development of the Hedera ecosystem by providing grants and other resources to developers, startups, and organizations that seek to launch decentralized applications in DeFi, NFTs, CBDCs, sustainability, gaming, and other sectors. In addition to providing funding through a streamlined grant process, the HBAR Foundation acts as an integrated force multiplier through expert support across technical, marketing, business development, and other operational functions that are required to scale. For additional information, please visit https://hbarfoundation.org/ or follow the Foundation on Twitter @HBAR_foundation.
ABOUT TYMLEZ
TYMLEZ is a sustainability focused enterprise-grade solutions provider that develops and deploys leading software applications which leverage blockchain technology. The Company is focused on supporting clean energy and sustainability initiatives, along with other opportunities to develop products that rely on secure, trackable and traceable data transfer.
