New Collaboration Will Enable Greater Trust and Transparency in the Tracking, Reporting and Verification of Critical Emissions Data
CAMBRIDGE AND PITTSBURGH, April 3rd, 2023 – EQT Corporation (NYSE: EQT) and Context Labs today announced the establishment of a strategic partnership to advance the commercialization of verified low carbon intensity natural gas products and carbon credits. The partnership will bring together EQT, the largest natural gas producer in the U.S., and Context Labs, an expert in distributed ledger technology, advanced climate data and analytics, machine learning and AI-capabilities.
Through tracking, reporting and verification of critical emissions data, the strategic partnership will support EQT in achieving its industry-leading emissions reduction targets, which include a commitment to reach net-zero greenhouse gas (GHG) emissions by 2025. With a focus on emissions quantification, operational analysis, and the certification of natural gas production, the companies will work to scale emissions mitigation across the full energy value chain.
Context Labs will provide an enterprise-wide deployment of their Decarbonization-as-a-Service (DaaS™) platform across EQT’s asset footprint, with the goal of achieving full digital integration of EQT’s emissions data. The resulting creation of certified low-carbon intensity products will add a next dimension to EQT’s already robust and digitally-enabled organization.
Context Labs’ enterprise data fabric platform, DaaS™,will enable certification and verification of the carbon intensity of EQT’s operating assets, with certificates registered in Context Labs’ CLEAR Path™ Repository. Additionally, the relationship will afford EQT the opportunity to integrate carbon credit projects into CLEAR Path™ in support of generating asset-grade data-backed carbon credits.
“We have taken decisive actions to cut emissions across our operations. Now, with this specialized data, we can accelerate our path to net zero and reach our goals more efficiently. EQT and Context Labs are leading the industry in capturing opportunities not just to decarbonize natural gas, but credibly validate our emissions reductions, which is a critical component to ensuring natural gas plays a leading role in the world’s energy evolution.“
Toby Z. Rice, EQT President and CEO
“I am thrilled to commence this partnership with EQT to advance our shared mission of accelerating climate change mitigation efforts, while ensuring the continued access to reliable and trusted energy resources around the globe. This partnership will comprehensively verify the most vital type of data – environmental data- rendering the highest quality, cryptographically secured, asset-grade, transparent certifications and credits available on the market today. Together with Toby Rice’s ambitious leadership at EQT, we will accelerate the global energy transition using empirical, context-driven insights.”
Dan Harple, Founder and CEO of Context Labs
About EQT Corporation
EQT Corporation is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day – trust, teamwork, heart, and evolution are at the center of all we do. Learn more at eqt.com.
About Context Labs
Context Labs is dedicated to sourcing, organizing, and contextualizing the world’s ESG information. The company enables data to become trusted, shared, and utilized as Asset Grade Data, providing insights and solutions to inform markets. Context Labs mission is to provide the world’s trusted data fabric platform, delivering Asset Grade Data to customers using the Immutably™ Enterprise Data Fabric platform, deploying machine learning, Artificial Intelligence, and cryptographic blockchain technologies, for context-driven insights.
Building on the Immutably™ Enterprise Data Fabric platform, the company has deployed customer service layers (1) Decarbonization-as-a-Service™ (DaaS™), tailored to accelerate the Global Energy Transition, and its (2) CLEAR Path™ platform to enable customers to optimize value creation with the highest quality carbon credits. The company was formed out of MIT research and is comprised of a leadership team that has been instrumental in the at-scale growth of the Internet, in prior companies. Learn more at www.contextlabs.com.