News

Timing is everything and ASX-listed TYMLEZ is a company with the right technology for the future of the planet.

“It is a once in a lifetime transition to a carbon-neutral world,” says Head of Operations, Eoin Flynn.

Flynn works closely with new CEO Maciek Kiernikowski, and former CEO, now Executive Chairman Daniel O’Halloran, in leading a team of 15 Australian staff, mostly based in the Precinct at Cohort Innovation Space.

Founded in the Netherlands, TYMLEZ made the move down under in 2021 after securing Australian investment through an ASX listing (TYM) in late 2018. TYMLEZ has retained a small team in Europe, working on a project in partnership  with the Danish government, and recently opened an office in the US.

Under O’Halloran’s leadership, the company has transformed from its broad focus on enterprise-grade blockchain technology to create transparent ledgers of data for transactions across a range of industries, to one with a laser focus on creating solutions such as carbon reporting and guarantee of origin for the global carbon economy.

With greenwashing a significant concern as corporations and governments face mounting consumer and citizen pressure to reduce emissions and meet climate change mitigation targets, demonstrating accountability is key. TYMLEZ’s blockchain platform can capture compliance and progress toward carbon targets, guarantee the origin of resources and fuels, and accurately account for offsets.

There’s a lot of talk about net-zero, but our platform offers proof that initiatives are actually reducing carbon intensity.”

“We provide guarantee of origin for green fuels and resources and can inject trust into carbon markets through the verified and transparent issuing of tokens for carbon offsets,” Flynn says.

The TYMLEZ Platform interfaces directly with range of IoT and smart metering devices – at Cohort, it uses ‘behind the meter’ IoT devices as part of a pilot with the Queensland Government to monitor energy usage and carbon emissions. Accurate measures will help to drive better investment decisions when it comes to green energy assets.

TYMLEZ’s influence is expanding all over the world – through commercial agreements with Magnum Mining and Exploration, an Australian mining company with a Magnetite Iron Ore project in the US State of Nevada that is using Biochar to develop green pig iron – a precursor to steel production; and Lloyd’s Register, which represents the global maritime industry.

Flynn explains that the goal to help the global shipping sector is highly ambitious as they seek to verify green hydrogen and green ammonia ‘from well to tank’, in what is a significant opportunity to establish leadership in the industry.

“Maritime decarbonisation is a massive undertaking but very important as the industry uses dirty bunker fuel and is responsible for an estimated 3 percent of global carbon emissions.”

“The industry would like to move to green ammonia but there are a range of safety and logistical issues with transportation and storage that need to be resolved, and we need to understand how much CO2 and other greenhouse gases are emitted all the way along the value chain.”

“Essentially we need to be able to identify each tonne of carbon emitted with all the data behind it, so everything is transparent.”

TYMLEZ is building upon a ‘3^rd generation’ blockchain platform, capable of superior performance with unrivalled power efficiency – where the 1^st generation Bitcoin platform handles only 3+ transactions per minute, the TYMLEZ platform can handle 10,000, confirming transactions on its blockchain almost instantaneously and doing it at a tiny fraction of the ‘energy cost’.

In fact, joining up one ‘link’ in the blockchain uses less energy than a single google search!

Recently TYMLEZ was awarded a grant to build on the US-based Hedera Blockchain network and has received a US$1million grant from the HBAR Foundation, shifting its focus away from managing its blockchain and associated servers and cybersecurity for customers, to developing sustainability solutions for them. Hedera is the world’s greenest blockchain network, with nodes under management by the likes of Google and IBM.

With rapid expansion comes the need for more staff, and in the competitive race for tech talent, TYMLEZ faces the same hurdles as tech companies everywhere, but the Gold Coast location can deliver an edge.

“Developers are in very short supply and it is a struggle, but we do get good people and we are able to retain them.”

“We are building a network of developers and the support of the Precinct and the City of Gold Coast has helped, while we also benefit from the reliability of the Council high-speed fibre network.”

TYMLEZ is on course to move forward with speed and reliability to a future that is getting ever closer.

Everyone is focused on 2030 – it is so close, only 7 years away – there is so much to be done!”