UrbanChain’s Dr Mo Hajhashem explains why the company he co-founded is perfectly placed to change a highly energy intensive industry once and for all. It’s a bold statement but I’m going to say it because it’s true. We can solve the energy dilemma that has for too long been a severe headache for the UK metals industry.
The rise and rise of energy bills
Many sectors and households across the nation and indeed the world have been hit with brutal rises in energy bills.
The UK leaving the EU continues to play its part in this, as does Russia’s ongoing war with Ukraine.
While emissions from the manufacture of basic iron and steel in the UK have largely fallen year on year since 1990, this high energy intensive industry has been unable to escape its predicament.
On a global scale, the steel sector is currently the largest industrial consumer of coal, which provides around 75% of its energy demand.
Yet, steel and metals are vital to the success of modern economies.
Many experts also predict that there will be a rise in demand for metals and steel over the next decade.
As it stands the steel industry is responsible for around 7% of CO2 emissions globally – and 5% in the EU.
Throw in the Net Zero demands and targets that rightly tap us all on the shoulder each day – and we can soon see just how real this dilemma is.
The predicament is heightening
What we cannot have is the metals industry remaining in a lose-lose position. This means no one wins, including our planet. Put simply, a growing worldwide population won’t have needs met and decarbonisation will simply not be achieved.
What’s clear to us is that not nearly enough renewable energy is currently being used to power the metals industry.
Paving the way for equilibrium
But that can change.
We can pave the way for equilibrium in the industry through our technology, our experience and our proven results in changing other industries and sectors.
Social Housing, Hospitality, Property, Local Governments are just a handful of the sectors we impact each day.
So who are we, what do we do, how do we do it and why can we inject lasting positive change in the metal industry?
We’re UrbanChain and we run an alternative energy market for renewables called the peer-to-peer exchange.
Driven by blockchain technology and AI, our exchange directly matches and connects the best renewable energy generators to consumers on a half hourly basis.
Our company has received £7.35m in funding to date, including from Eurazeo, Innovate UK and various government bodies.
And we currently manage over 200GWh (gigawatt hours) of power within the exchange.
Any consumers of energy in our trading system gain access to a solid base load made up from different sources of renewable generation. Through direct matching of different renewable generators to your consumption portfolio in each half hour, we make sure you have direct access to true renewable energy through long-term PPAs to cover your consumption for many years at your agreed prices. This way we solve the dilemma of decarbonisation and price stability at the same time.
The intermittency barrier does not exist.
This equals reductions to energy bills and price stability for any consumer – all signed for through our unique P2P PPAs.
As our power under management increases through expansion into new markets and territories, the metals industry is a firm priority of UrbanChain’s.We know we can help producers and manufacturers by cutting their costs and enabling them to be as competitive as possible, while driving forward net zero.
Energy – it’s a matter of national security.
So let’s solve the UK metals industry dilemma once and for all.
UrbanChain is exhibiting at the UK Metals Expo 2023 on September 13 and 14 – Stand P60.
For more information on UrbanChain visit https://www.urbanchain.co.uk/
