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The European Energy Exchange (EEX) is entering into a partnership with the data solutions provider TYCHO Solutions to enhance transparency in the hydrogen markets. Both parties will bring in their respective expertise to provide hydrogen-related data on the EEX Transparency Platform, by using TYCHO’s business intelligence tool NOVA.
TYCHO Solutions is a young start-up based in Mexico City which provides data solutions for renewable energy developers. The business intelligence tool NOVA is TYCHO’s latest development which has been established in collaboration with Marketz (an Enoi Group company) for collecting, analysing and keeping up-to-date information about hydrogen and related sectors. By displaying the trends, patterns and relationships in the hydrogen and energy ecosystems, the tool supports players within the hydrogen market to better understand the commodity dynamics to improve their decision making.
EEX’s Transparency Platform is one of Europe’s leading platforms for the disclosure of market relevant inside information and fundamental data. The platform displays information on power, natural gas, emissions and renewables, covering 14 countries, delivered by 158 direct reporting companies for even more market particpants.
Through their cooperation, TYCHO and EEX will provide trustworthy and relevant information on hydrogen markets on the EEX Transparency Platform.
Felipe González, Co-founder and CEO of TYCHO, says: “This partnership will allow us to speed up our product roadmap and market expansion. Thanks to EEX’s excellent reputation and customer base, we will achieve milestones that otherwise would have taken us several years. The hydrogen market today is in its early stages and we aim to give participants the visibility they need to start accelerating their growth. Together with EEX we are working on implementing a price transparency tool. Our ultimate goal is to be a driving force in the decarbonisation of the global energy ecosystem.”
As a first step, EEX and TYCHO envisage to make the price tool available on the EEX Transparency Platform in the course of Q3 2022. First feedback on the concept of NOVA from market actors in the hydrogen markets during this year’s E-world energy & water in Essen was very positive. Further development options may be the expansion of the specific information on hydrogen projects, infrastructure and demand across the European markets.
“Our cooperation will create more transparency for the market. Access to data is key for customers and market actors as the hydrogen sector is in its very infancy and in need of connecting businessrelevant information. The extension of available data together with TYCHO on our transparency platform, which is already widely used by the energy community in Europe, provides impetus for the stakeholders in the hydrogen market and the development of hydrogen as a tradable commodity in the future”, says Dr Tobias Paulun, Chief Strategy Officer of EEX.
