Verisae`s System tracks over 38m pounds of refrigerants -- Equates to over 100bn pounds of carbon
Verisae, a global provider of environmental management solutions, tracks over 500,000 thousand refrigerant containing systems across the United States. Over 25% of all U.S. greenhouse gas (GHG) emissions from hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), and sulfur hexafluoride (SF6) are tracked using Verisae’s Sustainability Resource Planning (SRP) platform.
The accurate tracking of refrigerants is central to Scope 1 fugitive emissions calculations. One pound of refrigerant gas can equal up to 2,300 pounds of carbon equivalent. Inaccurate tracking of even a few pounds of refrigerant gas will significantly affect carbon emissions reporting and related liabilities.
Inaccurate Fugitive Emissions Calculations as it Relates to Refrigerant Gas Usage Places Organizations at Risk of Massive Carbon Emissions Reporting Errors
“Fugitive emissions from vented or leaking refrigeration systems are an expensive issue from a maintenance, carbon inventory, and regulatory compliance perspective,” said Dan Johnson, Chief Executive Officer for Verisae. “Refrigerants have typically been tracked manually, using log books, spreadsheets stored across an organization, or via stacks of paper invoices. This approach will not suffice as increased scrutiny is placed on any and all carbon emission sources. This, of course, does not consider the real dollar amount and reputational savings from the avoidance of regulatory penalties.”
Most organizations lack the necessary enterprise tools to manage refrigerant usage so they may remain in compliance with U.S. Environmental Agency (EPA) Section 608 requirements. There is little visibility into the tracking, logging of purchases, usage, and submission of compliance reports regarding refrigerant gases across large distributed organizations. As a result, organizations are needlessly exposed to stiff monetary penalties assessed by regulatory authorities, including the EPA’s Office of Enforcement. These penalties can exceed $37,500 per day per system exceeding the 35% EPA refrigerant leak threshold.
“Our clients have significantly lower leakage rates than the broad industry averages quoted by the U.S. EPA. The majority of our customers document a minimum 5% reduction in total refrigerant usage within the first year following implementation of Verisae's systems,” said Paul Hepperla, VP of Sustainability Resource Planning (SRP). “For example, a 5% reduction in usage equals about 2 million pounds less refrigerant being purchased across our customer base. With a blended cost of refrigerant equal to $8 per pound, our customer’s annual saves are estimated at over $15.5 million dollars per year.”
About Verisae, Inc.
Verisae (www.verisae.com) helps measure, manage and monetize energy costs and carbon emissions. Their proven Sustainability Resource Planning (“SRP”) platform improves operational efficiency, makes sustainability initiatives actionable, and reduces energy costs and emissions for distributed enterprises and related energy companies. They deliver a broad range of sustainability solutions to over 40 global clients with a service network of over 7,500 third-party consultants consisting of 60,000 application users. Their integrated sustainability platform actively tracks over 2.1 million assets across 23,000 sites.