RCA Pad
VELMVellum Protocol8,420 waitlistKITEKite Ledger2,190 waitlistPLSDPalisade ID1,640 waitlistNRTLNorthlineDay 8 of 14SABLSable RailDay 5 of 14QULLQuill MarketsDay 11 of 14CDWLCinder Well6,947 waitlistHRTNHartline8,787 waitlistOBSNObsidian Rail4,416 waitlistFENLFen Clearing1,060 waitlistLUMNLumen Books5,510 waitlistRDCTRedact ID6,485 waitlistHRBNHarbor NAV6,973 waitlistQLTDQuilt1,876 waitlistNMBMNimbus Match7,864 waitlistBRASBrass4,166 waitlistSLSTSolstice Credit9,342 waitlistWLTRWillow Transfer7,031 waitlistEMBREmber Registry2,487 waitlistNQAYNorth Quay2,013 waitlistKLNSKiln4,412 waitlistGLSHGlass HouseDay 8 of 14IRNPIron PierDay 1 of 14PLFRPale FireDay 3 of 14VELMVellum Protocol8,420 waitlistKITEKite Ledger2,190 waitlistPLSDPalisade ID1,640 waitlistNRTLNorthlineDay 8 of 14SABLSable RailDay 5 of 14QULLQuill MarketsDay 11 of 14CDWLCinder Well6,947 waitlistHRTNHartline8,787 waitlistOBSNObsidian Rail4,416 waitlistFENLFen Clearing1,060 waitlistLUMNLumen Books5,510 waitlistRDCTRedact ID6,485 waitlistHRBNHarbor NAV6,973 waitlistQLTDQuilt1,876 waitlistNMBMNimbus Match7,864 waitlistBRASBrass4,166 waitlistSLSTSolstice Credit9,342 waitlistWLTRWillow Transfer7,031 waitlistEMBREmber Registry2,487 waitlistNQAYNorth Quay2,013 waitlistKLNSKiln4,412 waitlistGLSHGlass HouseDay 8 of 14IRNPIron PierDay 1 of 14PLFRPale FireDay 3 of 14
Board

HAZ3

In diligence
IN MOTIONCarbon inventories

Hazel Room

a short list already asked. The window is a few days. After that, archive.

Renewal — not the round — is the twelve-month test. The people in this queue already know that.

Hazel Room — A ledger of energy certificates (GOs, RECs) for producers and offtakers who already sit in a national registry. It moves the event faster. It does not invent a green token for Twitter.

In a 14-day diligence sprint (day 5). This is when the story, the customers and the legal path get written down — or the file stops.

Most Carbon inventories applications this quarter were declined. You are looking at one that was not.

Diligence, not a prospectus. RCA Pad does not allocate, take orders, or close funding. If this company raises, it raises with its own counsel.

Sprint day

0/14

Window

Closed

Heat

0/99

Inbound / wk

0asks

Asking now

0live

Named pilots

0

Redacted on the public page

Live nodes

0

Inventory ledger

Counsel hours

0

Not offering — locked

Sentences killed

0

Before listing

Claims live

1/10

Sprint

Our cut

0%

Of any proceeds

Plate Orbit · 2629

HAZ3

The plate

Orbit. Edition 2629.

A unique plate for Hazel Room. Geometry, orbit, and edition belong to this company — no other listing on the board shares it.

HAZ3 · Brussels · Carbon inventories

Score

0

Desk diligence

Pilots

0

Named, redacted

Sprint

0

Day 5 of 14

HQ

Brussels

Producers

Sells

Offtaker

Offtaker portal

Markets

0

Brussels

Years

0

Founded 2021

Surfaces

0

Inventory ledger

Complete

0

File readiness

The wedge

Offtaker portal

Hazel Room shortens retirement, it does not invent a tonne.

Why the desk took it

A real job, not a ticker.

They did not lead with climate Twitter.

Traction

One named pilot (redacted).

Founded 2021, headquartered in Brussels. One named pilot on file (redacted in public). 3 nodes or connected surfaces reported. Desk diligence score 76/100. Sprint day 5 of 14. A transfer agent willing to consume a revoke in production. No public APY, no public book, no ‘how to buy’ on any surface we could find.

Next 12 months

Still dual-record with the registry.

Xpansiv is a market. This is the event under a registry. Per-event pricing so a pilot can start without a transformation programme.

The brief

How a serious reader should hold this.

In Brussels, the person who signs the monthly pack already has a vendor. Hazel Room is not asking them to believe in a token. It is asking them to move one job — the one that currently lives in a spreadsheet, a fax, or a person who is about to retire — onto a record that can be shown to counsel. The queue to read that record is already not empty.

The bet is narrow. A named Brussels buyer already has budget for this invoice. Hazel Room wins if it is cheaper than the internal build and cleaner than the protocol pitch. It loses if a founder later wants a public book. The window is the time you have to decide which it is.

On a Tuesday in Brussels, an exception posts back into the customer’s existing case system. Nobody opens a side spreadsheet. That is the product: the night someone in ops does not stay late.

From the screen

This communication is not an offer. Participation mechanics do not exist on this pad. If a later reader treats the public stack as the offer, the stack was already wrong.

From the founder

The legal source of truth stays with the incumbent register, admin, or custodian. Hazel Room does not attest to its own facts.

From the pilot

We will not describe this as Reg CA-compliant, MiCA-stickered, or FCA-authorised. Issuers retain their own counsel in every relevant jurisdiction.

The window

Miss this and you read the archive.

When the heat drops, the named customer is still named — they just stop taking new calls.

The comment period is not a path. This company is priced as if that is already true.

If you are a founder who wants a pack like this: apply. If you are a buyer: call them — not us.

Window

Closed

Closed. History only — not a place to buy.

Sentences killed
5
Counsel hours on file
29
Asks / week
20
Our cut
0% of proceeds

Kill the public sentence in an hour or do not list us. We can do the hour.

Siobhán Hale, Chief executive

This company

Hazel Room

Services firms hide in ‘platform’ language. Hazel Room sells a seat plus an event. Named.

In the same conversation

  • National GO registries
  • Xpansiv
  • Not a public carbon coin

The bet

Why this company exists.

Hazel Room shortens retirement, it does not invent a tonne.

Hazel Room shortens retirement, it does not invent a tonne.

Corporate offtakers are being asked to prove what they bought. Registries lag. A dual record that the registry still owns is sellable.

GO and REC markets are measured in tens of billions. Ops software is a thin slice with high switching costs.

Versus the field

The incumbent brand sells the relationship. Hazel Room sells the job the brand will not staff. A protocol pitch is the thing this company has already refused. Open-source looks free until the auditor asks who attests.

Named: Brussels. Off-limits: Global public. A US person hearing an offering communication is a US problem even if the company sits in Brussels. Blocking an IP and taking a US Telegram admin is not a block.

How it works

  1. 01A certificate that exists in a registry is evented here
  2. 02Delivery and retirement are visible to the offtaker
  3. 03The registry remains the legal source
  4. 04No public ‘carbon token’ sale on this pad
  5. 05Delivery and retirement are visible to the offtaker; the registry remains source
  6. 06Kill of a public sentence is an hour, not a committee.

In the same conversation as

  • National GO registries
  • Xpansiv
  • Not a public carbon coin

If they raise

Where the money would actually go.

Not a token float. A budget against work. RCA Pad still takes 0% of proceeds.

  • Control environment

    28%

    Adapter work against the incumbent register, admin, or custodian.

  • Certifications & adapters

    26%

    Dual-control drills, key ceremonies, and the person who owns them.

  • Counsel & perimeter

    18%

    The remaining certifications and the second named market.

  • Claims & campaign ops

    28%

    Hiring the operator who already does this job at a licensed firm.

Operating week

What “in market” actually looks like.

  1. WedCounselPerimeter diffs. If the site drifted from the memo, the site moves — not the memo.
  2. SunOwnersWho can decide messaging and budget on a recorded line. If the answer is nobody, stop.
  3. MonClaimsEvery public sentence checked against the register. Anything extra is unpublished.
  4. ThuCustomerNamed pilot (redacted) sees the same record the auditor saw.

The wedge

Why this one, not the other one.

They sell
Offtaker portal
Who pays
A transfer agent willing to consume a revoke in production.
Unit economics
Per-event pricing so a pilot can start without a transformation programme.
Moat on file
A national registry is a counterpart, not a scrape.
Switching cost
The customer’s auditor has seen this book. Switching means a new auditor conversation.
Vs the comps
Xpansiv is a market. This is the event under a registry.
Why we listed it
They did not lead with climate Twitter.

Next twelve months

What has to be true.

Still dual-record with the registry.

No public APY, no public book, no ‘how to buy’ on any surface we could find.

Growth money would extend the record to a second geography, still permissioned.

Traction

What you can verify today.

Founded 2021, headquartered in Brussels. One named pilot on file (redacted in public). 3 nodes or connected surfaces reported. Desk diligence score 76/100. Sprint day 5 of 14. A transfer agent willing to consume a revoke in production. No public APY, no public book, no ‘how to buy’ on any surface we could find.

  • Operating notes for Inventory ledger
  • No token contract listed as a public sale
  • Named founder; customer still a conversation
  • Brussels is the operating centre
  • The waitlist, if any, is a product list — not a book
  • RCA Pad does not take a cut of proceeds

Readiness

Six things a serious buyer asks. 100 is “ready to take to counsel and a customer.”

  • Product36
  • Customers40
  • Legal path62
  • Tech maturity45
  • Demand38
  • Market access44

Risks

What can kill it.

The one that actually kills it

The founder wants a public book

The moment Hazel Room asks this pad to allocate, sell, or complete funding, the listing ends. That is not a moral project. It is how a services firm stays a services firm.

Double count

If the registry and this ledger can both be sold, the product is a liability.

Green token

A freely traded climate token is usually a commodity or a security. This pad will not sell it.

Registry cooperation

Without the registry, this is a shadow certificate.

Policy

GO rules move. The product has to move with them, not ahead of them.

Double count

If the registry and this ledger can both be sold, Hazel Room is a liability. Dual-record or nothing.

Token relapse

A later round that wants a public token puts Hazel Room in a different perimeter. The file treats that as a hard stop.

Ask these next

  1. 01What does renewal look like if no round ever happens?
  2. 02Which geography is actually locked, and which is a hope?
  3. 03Where do keys, title, or NAV liability sit — and is that person licensed?
  4. 04Which incumbent can copy this in a quarter, and what would they have to migrate?
  5. 05What happens if a founder later wants a public token?
  6. 06Who is the first named paying customer — not a letter of intent?

Structure

How money would actually move.

Sprint is diligence, not a raise. A pack at the end is a file the company can take to its own lawyers and investors. RCA Pad does not complete funding.

Entity
Hazel Room Ltd
Path on file
Not offering — locked
Posture
Private only
Pack
Sprint

Where they can operate

Named vs off-limits.

Named markets are where a sentence is allowed. Restricted is where it is not. This is not a worldwide offering.

  • Brusselsnamed
  • Global publicrestricted

Team

Who runs it.

  • Siobhán HaleChief executive

Stack

  • Inventory ledger
  • Carbon inventories
  • Audit log

Named with them

  • Clearline

Who can decide

Siobhán Hale came in named. The team is not a handle. Hazel Room Ltd exists, founded 2021, headquartered in Brussels. Anonymity would have been an automatic decline.

If the first customer renews, the adapter work pays for itself. If they do not, Hazel Room is a services firm with a slide. The twelve-month test is renewal, not waitlist.

Claims with evidence

Statements with evidence.

StatementEvidenceStatus
Hazel Room does not sell a token to the public on this padPosture locklive
The product is carbon inventories sold to institutionsArchitecture + customer typelive
Inventory ledger is the method — not a listed assetDesk snapshotlive
Retail buyers are out of scopeNamed markets locklive
Any raise completes with the issuer’s counsel and providers — not on RCA PadFixed-fee termslive
Production date for the chain layer is not committedNo board minutedraft
No public token is sold on this padEngagement terms + posture locklive
Customers contemplated: BrusselsNamed markets on the filelive

On the record

  1. Day 0 lockKick-offSep
  2. Claim inventoryPackSep
  3. Audience matrix draftPackSep

Operating log

  1. 11 Sep 9:13

    Workshop. Funnel has no purchase step.

  2. 08 Sep 09:00

    Kick-off. Exclusions recorded.

  3. 09 Sep 16:20

    A claim killed for missing evidence.

Path to now

  1. D0

    Kick-off

    Geographies, owners, SLA, exclusions.

  2. D14

    Read-out

    Accept the pack or stop.

Not a subscription

This is not a sale page.

Sprint is diligence, not a raise. A pack at the end is a file the company can take to its own lawyers and investors. RCA Pad does not complete funding. Founders who want a pack like this one apply. Readers who want the company talk to the company — not to this pad.

Launch your own How an RCAICO works

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