Harmonex
Energy Clearing & Settlement
Financial Market Infrastructure

The settlement layer
for distributed
energy markets.

Harmonex certifies what energy assets delivered — solar, wind, storage, and beyond — maps value to the physical delivery node, and settles every participant accurately, automatically, and without hardware meters. Jurisdiction-portable across every grid globally.

Platform Type
FMI
Financial market infrastructure
IP Portfolio
29
Patent filings pending
Clearing Interval
5 min
Per dispatch cycle
Operating Status
Live on Ontario Data
Shadow mode active

What We Do

Harmonex operates exclusively post-dispatch. We do not optimize, forecast, or instruct assets. We settle what happened.

Harmonex is not a software platform. It is financial market infrastructure — built on the same structural principles as DTCC and CLS, applied to distributed and utility-scale energy. It is the clearing and settlement layer that renewable energy markets have never had.

Today, solar farms, wind operators, battery storage systems, EV fleets, and industrial loads generate value — energy arbitrage, grid deferral, and certified carbon credits — that existing settlement infrastructure cannot capture, certify, or clear. Harmonex closes that gap across all three streams simultaneously.

"Harmonex validates, allocates, and settles value between participants. It does not operate a financial exchange or take counterparty risk."

Our platform reconstructs a verified performance record for every 5-minute dispatch interval — without a hardware meter — maps that performance to the physical delivery node, and settles energy value, transformer capex deferral, and carbon credits simultaneously in a single atomic clearing cycle. Every settlement event produces an HSM-signed, dispute-proof audit record.

For non-dispatchable renewables — solar PV, onshore and offshore wind, run-of-river hydro, and geothermal — Harmonex certifies every MWh against the marginal emission factor of the local grid at the moment of generation. Hourly MRV certification produces carbon credits that command corporate offtake premiums unavailable through annual-average methodologies.

Shadow mode onboarding lets any participant run Harmonex alongside existing systems at no cost — certifying what assets actually earned versus what they were paid. The gap speaks for itself.

Solar PV Onshore Wind Offshore Wind Battery Storage Run-of-River Hydro Geothermal EV Fleets
Active Markets & Design Partner Jurisdictions
Canada
Ontario is the launch market, operating on live IESO data today. Architecture applies to all provincial jurisdictions, aligned with OEB non-wires solutions frameworks.
Live on Ontario grid data
Chile
Active design partner engagements across utility-scale solar portfolios operating under Chile's PMGD program. MEF certification against the Sistema Eléctrico Nacional (SEN) — one of the highest-quality voluntary carbon market use cases in Latin America.
United States
Configurable for any ISO or RTO. Settlement records structured for FERC Order 2222 compliance — supporting DER aggregator recognition across PJM, MISO, ERCOT, and beyond.
Middle East
Expanding to GCC solar and wind markets where grid emission factors are among the highest globally — maximising carbon credit value per MWh certified. Jurisdiction-configurable for Saudi, UAE, and pan-regional authority structures.
Europe
Compatible with DENA and ENTSO-E distributed energy frameworks, positioned for EU carbon compliance markets including CBAM industrial export requirements.
Jurisdiction-agnostic by architecture. Every market parameter — nodal pricing methodology, regulatory authority, data residency boundary, and cryptographic key management — is configured per jurisdiction through a single Jurisdiction Switcher. Raw settlement data and carbon certification records never cross a sovereign boundary. One platform. Every grid.

The Platform

Twelve production modules across four layers. No overlap. Each maps to a patent layer, a defined customer need, and a revenue mechanism. Select a layer to explore.

These four modules form the atomic settlement kernel. Every settlement event passes through all four in sequence: measure → verify → map to node → clear → enforce sovereignty. They do not operate independently.
HEC Verify
Measurement & Verification
The meterless M&V engine — Harmonex's core patent-protected differentiator. A recursive regression methodology achieves ANSI C12.20 Class 0.5 revenue-grade accuracy without utility-grade hardware. For dispatchable assets, reconstructs a Clean Performance Delta by filtering grid noise from true load modulation. For non-dispatchable renewables — solar, wind, hydro — certifies actual generation against grid-injection records with equivalent statistical rigour. Generates a Confidence Score for every event. No event clears without a HEC Verify record.
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HEC Clear
Atomic Settlement Engine
The 8-state deterministic clearing machine. Sequences and settles energy value, transformer capex deferral, and carbon credits simultaneously in a single 5-minute atomic cycle — across ISO, LDC, and asset owner — without double-counting. Operates identically for dispatchable and non-dispatchable assets: for solar and wind, energy value may be zero or negative at certain intervals; carbon credit settlement proceeds independently of LMP. States: INITIATED → QUALIFYING → VALIDATED → CALCULATING → CLEARING → SETTLED (or DISPUTED → ADJUSTED). Anchors every cleared state to the HEC TollLedger.
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HEC Node
Nodal Pricing & Mapping
Maps every settlement event to its physical delivery node and applies real-time Locational Marginal Pricing. Calculates the CER-Aware Nodal Price Index (C_IDX) — the composite price capturing energy, congestion, and losses at the asset level. Ensures each participant is settled at the price reflecting actual grid conditions at their node. For solar and wind assets, nodal mapping exposes the gap between flat-rate contract settlement and true locational generation value — often a material understatement. Jurisdiction-configurable: IESO LMP for Ontario, SEN for Chile, MISO/ERCOT for US markets.
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HEC Sovereign
Jurisdictional Compliance & Data Residency
Enforces data and cryptographic key residency within jurisdictional boundaries. Implements a software-based HSM for all signing using ECDSA P-384. Private keys, raw settlement records, and carbon certification data remain locked to the sovereign zone — a critical requirement for project finance compliance and carbon credit integrity in international markets. External interfaces receive only Derivative Settlement Summary Objects. All internal module traffic encrypted via boundary-resident mTLS mesh. Configurable for CA-ON, CL-SEN, US-MISO, US-PJM, EU-DENA, GCC, or any Generic jurisdiction.
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The tolling layer is not optional — it is the financial mechanism that makes Harmonex a clearinghouse rather than a reporting tool. Every settlement event generates a toll. Every carbon certificate generates a toll at minting and at retirement.
HEC Toll
Tokenized Settlement Unit
The standardised tokenized toll unit. Represents settlement access, clearing rights, and congestion pricing. Applied automatically at each leg of every HEC Clear settlement cycle — for dispatchable and non-dispatchable assets equally. Toll rate is a configurable parameter stored in the jurisdiction schema — not hardcoded. Default rates: 0.75% Year 1, 0.85% Year 2, 1.0% Year 3+ of gross settled value per 5-minute interval. Carbon certification toll: 2.5% of gross credit revenue plus $1.00 per tCO₂e certified. API clearing fee: $0.15/MWh plus connection fee.
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HEC TollLedger
Immutable Settlement Record
The chain-hashed, HSM-signed immutable ledger of every toll issuance, application, and settlement. Tamper-evident by design: stored_hash must equal expected_hash at every block. Regulator-visible at Class 1 and Class 2 access tiers. For carbon credit issuance, the TollLedger provides the audit-grade generation provenance required by Verra VCS and voluntary market buyers — linking each Verified Carbon Unit to the specific MWh event, timestamp, and grid emission factor from which it was derived. Supports the Controlled Finality Model: DISPUTED and ADJUSTED states produce new ledger entries — the original SETTLED record is never overwritten.
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Carbon attribution at the asset level — per 5-minute generation or dispatch interval, against the hourly marginal emission factor — does not exist in any current ISO, utility billing, or carbon registry system at scale. Harmonex creates it. For solar and wind operators, this is an entirely new revenue stream requiring no new hardware, no dispatch capability, and no existing carbon market relationships.
HEC Carbon
Carbon Attribution Engine
Links every HEC Clear or HEC Verify generation event to verified grid carbon intensity via real-time marginal emission factor (MEF) data. Applies to all asset classes — solar, wind, hydro, geothermal, and storage — without requiring dispatch capability. Hourly MEF weighting is the Harmonex differentiator: most carbon credit methodologies use annual average grid emission factors, producing credits at commodity pricing. Harmonex certifies at the interval level against the marginal factor — the emissions actually avoided at the moment of generation. This produces credits eligible for corporate offtake at a 50–125% premium over annual-average equivalents.

Grid feeds: IESO real-time fuel mix (Ontario, 5-minute), SEN Coordinador Eléctrico Nacional (Chile), EPA eGRID marginal factors (US), and configurable feeds for any jurisdiction with published generation mix data. Night generation from wind assets is captured at full MEF value — often the highest-value interval of the 24-hour cycle. Calculates tCO₂ avoided per validated generation event. Output feeds HEC CarbonCert for certificate issuance.

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HEC CarbonCert
Audit-Grade Carbon Certificate Lifecycle
Manages the full certificate lifecycle: minting, chain-of-custody, and retirement. Issues audit-grade carbon certificates linked to specific generation or dispatch events — not statistical estimates. Each certificate carries: event timestamp, asset identifier, generation quantity (MWh), grid MEF at moment of generation, tCO₂ calculation, HEC Verify confidence score, jurisdiction code, and HSM signature hash. VCS-aligned methodology: certificate structure and monitoring report output are designed for Verra VCS submission, enabling project proponents to register assets and issue Verified Carbon Units (VCUs) through existing voluntary market infrastructure.

Integrates with compliance markets (CORSIA, Clean Fuel Standard, OBPS) and voluntary markets (Verra VCS, Gold Standard). Supports corporate offtake agreements by providing the lender-grade, auditable generation provenance that institutional buyers require. Carbon revenue is certifiable at the project pro forma stage — enabling renewable developers to embed Harmonex-certified revenue as a bankable line item in project finance packages from day one of project development. Retirement toll applies at minting and at retirement.

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All participant interfaces enforce role-based view separation. Four authenticated user classes — Platform Administrator, Technical Due Diligence, Asset Operator, Community Energy Corporation — each see exactly what they need. Engineering terminology is replaced with plain language in Operator and Community views.
HEC Connect
Onboarding & Credentialing
Participant onboarding, KYC/KYB verification, and API integration. Issues Participant Network Identifiers (PNIDs) — the unique credential anchoring every settlement record, carbon certificate, and ledger entry to a verified participant. Supports the Agnostic Forecaster API: accepts dispatch baselines from any external AI platform (BluWave-ai, AutoGrid, Voltus, or any ISO-registered aggregator) via standardised JSON endpoint. For solar and wind operators, onboarding requires only generation meter data and grid connection parameters — no dispatch infrastructure required.
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HEC Audit
Dispute-Grade Settlement Record
One-click generation of a dispute-grade PDF for any 5-minute settlement or generation interval. The primary commercial instrument in the shadow onboarding strategy. Contains: telemetry inputs, HEC Verify regression output, SHAP reasoning object, ANSI C12.20 verdict, carbon attribution, dollar delta versus flat-rate legacy billing, and HSM signature hash. Self-contained and verifiable without system access. P.Eng methodology opinion on page 1 converts the document from analysis to engineer-reviewed financial instrument.
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HEC Portal
Participant Dashboard & Reporting
Role-separated participant dashboards. Asset Operator view: settlement outcomes, carbon credits, earnings, Shadow Mode comparison, ANSI badge. For solar and wind operators: certified carbon credit inventory, MEF profile by interval, corporate offtake eligibility status, and pro forma revenue projection for lender reporting. Community Energy Corporation view: plain-language earnings dashboard, named Trust Reserve balance, carbon credits owned, data sovereignty indicator.
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HEC RegView
Regulatory Evidence Layer
Regulator-grade visibility into nodal, transaction, and toll data. For Ontario LDCs: generates OEB Non-Wires Solutions filing-ready evidence reports aligned with OEB EB-2024-0118 NWS Guidelines. For MISO/PJM: FERC Order 2222 compliant disaggregation records. For IESO: DER aggregator recognition evidence package. For carbon markets: Verra VCS monitoring report output, aligned with applicable renewable energy methodology requirements. The LDC Authority License is the paid access layer for OEB-aligned non-wires evidence generated from live DER performance.
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These modules are named and patent-mapped but are not yet in production. The naming system is designed to accommodate them without breaking the existing architecture.
HEC FX
Cross-Border Settlement
Cross-border settlement and currency conversion for multi-jurisdiction deployments. Manages CAD/USD conversion for Canada–US bilateral operations and USD/CLP for Chile-based solar and wind assets. Extends to EUR and GCC currencies as Harmonex enters European and Middle East markets. Carbon credit settlement across currencies handled natively — critical for international project finance structures where VCU sales and project debt may be denominated in different currencies.
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HEC Risk
Portfolio Risk Analytics
Portfolio-level risk analytics for nodal and dispatch-indexed exposures. Relevant for large renewable fleet operators evaluating settlement and carbon certification performance across multiple assets, nodes, and jurisdictions. Key input for acquirer due diligence — demonstrates platform reliability and settlement consistency at scale. Feeds directly into the Technical Due Diligence access tier.
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HEC Chaos
Resilience & Gap Reconstruction
Chaos Engineering dashboard for resilience demonstration. Simulates connectivity outages of up to 15 minutes and proves that HEC TollLedger chain integrity is maintained through gap reconstruction. Reconstructed intervals receive reduced confidence scores and are flagged as gap-fill entries. stored_hash equals expected_hash — cryptographic chain integrity preserved end to end. Primary tool for Technical Due Diligence sessions and VVB audits.
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Who We Work With

01
Solar & Wind Operators
Your assets generate certified carbon value at every MWh that existing settlement infrastructure cannot capture. Harmonex certifies generation against the hourly marginal emission factor of your local grid — producing credits eligible for corporate offtake at premiums of 50–125% over annual-average methodologies. No dispatch capability required. No new hardware. Carbon revenue certifiable at the project pro forma stage for lender underwriting from day one.
02
Battery Storage Operators
Flat-rate compensation ignores when and where you delivered. Harmonex certifies exactly what your asset earned — at the node, at the interval — and simultaneously settles energy arbitrage, infrastructure deferral, and carbon credits in a single atomic clearing cycle. Shadow mode onboarding lets you see the dollar delta before committing to anything.
03
Renewable Project Developers
Harmonex embeds into your project development process at the pro forma stage — before financial close. Certified carbon revenue appears as a bankable, auditable line item that lenders can underwrite, not a qualitative footnote. For build-and-sell developers, Harmonex-certified projects transfer their carbon revenue infrastructure to new owners at asset sale — increasing exit value by demonstrating an established, operational revenue stream.
04
Local Distribution Companies
Generate OEB-ready non-wires solutions evidence automatically via HEC RegView. Harmonex certifies transformer capex deferral value aligned with OEB EB-2024-0118 NWS Guidelines — turning DER performance into a defensible regulatory instrument. Equivalent structures available for FERC and European regulatory filings.
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Grid & Regulatory Authorities
The system of record for distributed grid value. In Canada: OEB-aligned capex deferral evidence and IESO DER aggregator recognition packages. In the US: FERC Order 2222 compliant disaggregation. In Europe: DENA and ENTSO-E reporting frameworks. In carbon markets: Verra VCS-aligned monitoring report output. Without relying on operator-reported data in any market.
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Community Energy Corporations
Plain-language settlement reporting built for community boards — not engineers. Municipal, rural, cooperative, and Indigenous-led energy corporations see exactly what their asset earned, what carbon credits it generated, and what their Community Trust Reserve holds — in a format readable without technical assistance.