VELMVellum Protocol8,420 waitlist KITEKite Ledger2,190 waitlist PLSDPalisade ID1,640 waitlist NRTLNorthlineDay 8 of 14 SABLSable RailDay 5 of 14 QULLQuill MarketsDay 11 of 14 CDWLCinder Well6,947 waitlist HRTNHartline8,787 waitlist OBSNObsidian Rail4,416 waitlist FENLFen Clearing1,060 waitlist LUMNLumen Books5,510 waitlist RDCTRedact ID6,485 waitlist HRBNHarbor NAV6,973 waitlist QLTDQuilt1,876 waitlist NMBMNimbus Match7,864 waitlist BRASBrass4,166 waitlist SLSTSolstice Credit9,342 waitlist WLTRWillow Transfer7,031 waitlist EMBREmber Registry2,487 waitlist NQAYNorth Quay2,013 waitlist KLNSKiln4,412 waitlist GLSHGlass HouseDay 8 of 14 IRNPIron PierDay 1 of 14 PLFRPale FireDay 3 of 14 VELMVellum Protocol8,420 waitlist KITEKite Ledger2,190 waitlist PLSDPalisade ID1,640 waitlist NRTLNorthlineDay 8 of 14 SABLSable RailDay 5 of 14 QULLQuill MarketsDay 11 of 14 CDWLCinder Well6,947 waitlist HRTNHartline8,787 waitlist OBSNObsidian Rail4,416 waitlist FENLFen Clearing1,060 waitlist LUMNLumen Books5,510 waitlist RDCTRedact ID6,485 waitlist HRBNHarbor NAV6,973 waitlist QLTDQuilt1,876 waitlist NMBMNimbus Match7,864 waitlist BRASBrass4,166 waitlist SLSTSolstice Credit9,342 waitlist WLTRWillow Transfer7,031 waitlist EMBREmber Registry2,487 waitlist NQAYNorth Quay2,013 waitlist KLNSKiln4,412 waitlist GLSHGlass HouseDay 8 of 14 IRNPIron PierDay 1 of 14 PLFRPale FireDay 3 of 14

JUTG

In diligence

IN MOTIONCarbon inventories

Jute Hold

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

The window is a few days. After that Jute Hold archives. Diligence does not reopen as a live conversation.

Jute Hold — 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 7). This is when the story, the customers and the legal path get written down — or the file stops.

If you needed a reason to open diligence tonight: a short list other people already did.

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

Redacted on the public page

Live nodes

Inventory ledger

Counsel hours

Not offering — locked

Sentences killed

Before listing

Claims live

1/6

Sprint

Our cut

Of any proceeds

Plate Orbit · 2073

JUTG

The plate

Orbit. Edition 2073.

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

JUTG · Edinburgh · Carbon inventories

Score

Desk diligence

Pilots

Named, redacted

Sprint

Day 7 of 14

Edinburgh

Producers

Sells

Per

Per certificate event

Markets

Edinburgh

Years

Founded 2024

Surfaces

Inventory ledger

Complete

File readiness

The wedge

Per certificate event

Jute Hold shortens retirement, it does not invent a tonne.

Why the desk took it

A real job, not a ticker.

No public token representing a tonne. We searched.

Traction

One named pilot (redacted).

Founded 2024, headquartered in Edinburgh. One named pilot on file (redacted in public). 3 nodes or connected surfaces reported. Desk diligence score 85/100. Sprint day 7 of 14. A warehouse or port that has written a live event. Counsel is named, even if the memo is still a draft. Unnamed counsel is how files die.

Next 12 months

One retirement an offtaker will show their auditor.

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.

Before the waitlist, before the window, there was a refusal. Jute Hold would not let a public sale sit on this page. That is why a company in Carbon inventories is listed here at all — and why the people who wanted a coin left, and the people who wanted the product stayed.

Jute Hold exists because the incumbent brand will not staff the unglamorous middle of Carbon inventories. The product is that middle. The token, if it ever exists, is not the product — and is not for sale here. The people in the queue already understood the difference.

On a Tuesday in Edinburgh, 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 pilot

US persons are outside the audience. A form that asks “are you accredited?” without verification is not an exemption.

From the founder

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

From counsel

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

The window

Miss this and you read the archive.

If the window closes you still have the pack — as history. Not as a live conversation.

The incumbent copy takes a year. The named customer is already writing into this record.

We do not allocate. We do not take a cut. We will not hold the window open for you.

Window

Closed

Closed. History only — not a place to buy.

Sentences killed: 3
Counsel hours on file: 72
Asks / week: 23
Our cut: 0% of proceeds

The decline pile is a compliment. It means the screen still means something.
Eva Sato, Chief executive

This company

Jute Hold

Not the incumbent brand. Jute Hold sells the job the brand will not staff.

In the same conversation

National GO registries
Xpansiv
Not a public carbon coin

The bet

Why this company exists.

Jute Hold 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. Jute Hold 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.

Edinburgh being the city does not make local retail a default audience. Communications capable of inducing investment activity still have a promotions problem.

How it works

01A certificate that exists in a registry is evented here
02Delivery and retirement are visible to the offtaker
03The registry remains the legal source
04No public ‘carbon token’ sale on this pad
05Delivery and retirement are visible to the offtaker; the registry remains source
06Exceptions post back into the customer’s existing case system — no side spreadsheet.

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%
The remaining certifications and the second named market.
Certifications & adapters
18%
Hiring the operator who already does this job at a licensed firm.
Second market
16%
Dual-control drills, key ceremonies, and the person who owns them.
Counsel & perimeter
38%
A counsel memo that can survive a later reader.

Operating week

What “in market” actually looks like.

SatDarkNo creators. No threads. Restricted geos stay dark.
MonClaimsEvery public sentence checked against the register. Anything extra is unpublished.
FriKill switchRehearse unpublish in 24 hours. If it takes a committee, it is not a switch.
TueExceptionsOvernight breaks post back into the customer’s case system. No side book.

The wedge

Why this one, not the other one.

They sell: Per certificate event
Who pays: A warehouse or port that has written a live event.
Unit economics: Per-event pricing so a pilot can start without a transformation programme.
Moat on file: Dual-record: the registry still owns the legal fact.
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: No public token representing a tonne. We searched.

Next twelve months

What has to be true.

One retirement an offtaker will show their auditor.

Counsel is named, even if the memo is still a draft. Unnamed counsel is how files die.

They have not asked us to run a sale. That ask would close the file.

Traction

What you can verify today.

Operating notes for Inventory ledger
No token contract listed as a public sale
Pilot letters on file, identities redacted
Edinburgh 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.”

Product30
Customers40
Legal path62
Tech maturity45
Demand46
Market access44

Risks

What can kill it.

The one that actually kills it

Counsel is a slide

Unnamed counsel is how companies die in diligence. Not offering — locked has to be a memo you can file, not a slogan on the hero.

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, Jute Hold is a liability. Dual-record or nothing.

Token relapse

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

Ask these next

01Which geography is actually locked, and which is a hope?
02Is the waitlist demand for a product, or a queue for a coin?
03Who can unpublish a public sentence in 24 hours, by name?
04Where do keys, title, or NAV liability sit — and is that person licensed?
05Which incumbent can copy this in a quarter, and what would they have to migrate?
06What does renewal look like if no round ever happens?

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: Jute Hold Ltd
Path on file: Not offering — locked
Posture: No public sale
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.

Edinburghnamed
United States retailrestricted
United Statesrestricted

Team

Who runs it.

Eva SatoChief executive

Stack

Inventory ledger
Carbon inventories
Approval trail

Named with them

Clearline

Who can decide

Eva Sato came in named. The team is not a handle. Jute Hold Ltd exists, founded 2024, headquartered in Edinburgh. Anonymity would have been an automatic decline.

Year two is a second named market and the remaining certifications — still permissioned. It is not a public book. A public book would be a different company.

Claims with evidence

Statements with evidence.

Statement	Evidence	Status
Jute Hold does not sell a token to the public on this pad	Posture lock	live
The product is carbon inventories sold to institutions	Architecture + customer type	live
Inventory ledger is the method — not a listed asset	Desk snapshot	live
Retail buyers are out of scope	Named markets lock	live
Any raise completes with the issuer’s counsel and providers — not on RCA Pad	Fixed-fee terms	live
Pilot identities redacted in public	No board minute	draft
No public token is sold on this pad	Engagement terms + posture lock	live
Customers contemplated: Edinburgh	Named markets on the file	live

On the record

Day 0 lockKick-offSep
Claim inventoryPackSep
Audience matrix draftPackSep

Operating log

11 Sep 12:22
Workshop. Funnel has no purchase step.
08 Sep 09:00
Kick-off. Exclusions recorded.
09 Sep 16:20
A claim killed for missing evidence.

Path to now

D0
Kick-off
Geographies, owners, SLA, exclusions.
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

Other companies

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