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

VET2

Screened
SCREENEDEnergy certificates

Vetch Ridge

Skip it and you read a PDF. Counterparties who matter will have already called.

Paris is not a backdrop. It is the city where the customer can be called on a recorded line.

Vetch Ridge — 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.

Screened, not yet in sprint. Treat every number as provisional. Calendar access is not automatic.

12 live counterparties in the thread. The public page is the overflow.

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

Stage

upcoming

Window

Closed

Heat

0/99

Inbound / wk

0asks

Asking now

0live

Named pilots

0

Redacted on the public page

Live nodes

0

Certificate ledger

Counsel hours

0

Undetermined — not a path

Sentences killed

0

Before listing

Claims live

1/6

Sprint

Our cut

0%

Of any proceeds

Plate Orbit · 1144

VET2

The plate

Orbit. Edition 1144.

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

VET2 · Paris · Energy certificates

Score

0

Desk diligence

Pilots

0

None on file

Stage

upcoming

upcoming

HQ

Paris

Producers

Sells

Offtaker

Offtaker portal

Markets

0

France

Years

0

Founded 2026

Surfaces

0

Certificate ledger

Complete

0

File readiness

The wedge

Offtaker portal

Vetch Ridge shortens retirement, it does not invent a tonne.

Why the desk took it

Early — still a question.

They did not lead with climate Twitter.

Traction

No paying pilot on the public file.

Founded 2026, headquartered in Paris. No named paying pilot on the file yet — that is the first question. Desk diligence score 59/100. A transfer agent willing to consume a revoke in production. A redacted engagement letter landed in week one. That is why the desk took the meeting.

Next 12 months

Counsel on commodity vs software — one memo.

National GO registries are slow. That slowness is the budget. Per-event pricing so a pilot can start without a transformation programme.

The brief

How a serious reader should hold this.

Someone in Paris already renewed a slower vendor this year. Vetch Ridge is the conversation that happens before they do it again. Miss this cycle and you explain the next one.

Read this as an operating company, not a round. Counsel has a posture: Undetermined — not a path. Restricted markets stay dark. RCA Pad takes 0% if they ever raise. That combination is why inbound did not need a ticker.

A sentence went public and came down in under an hour. Oskar Okoye treated the kill as an operating skill, not a PR event. Files that cannot do this do not stay listed.

From the screen

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. Vetch Ridge does not attest to its own facts.

From ops

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.

The window

Miss this and you read the archive.

The incumbent will still be slow in a year. The window will not.

0% of proceeds. Fixed fee. The incentive is a clean campaign — not a raise.

The scarce thing is not the company. It is the next a few days of a live conversation.

Window

Closed

Closed. History only — not a place to buy.

Sentences killed
5
Counsel hours on file
10
Asks / week
5
Our cut
0% of proceeds

The auditor has seen the dual-record. Switching now is a new conversation. That is the lock.

Oskar Okoye, Chief executive

This company

Vetch Ridge

The copycats will arrive after certification. That is why the window is now.

In the same conversation

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

The bet

Why this company exists.

Vetch Ridge shortens retirement, it does not invent a tonne.

Vetch Ridge 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

L2 wrappers are cheaper. They are also a different perimeter — and declined here. Vetch Ridge is priced as software against an invoice that already exists.

Paris 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

  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

    40%

    Keeping the public story from running ahead of the claims register.

  • Certifications & adapters

    26%

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

  • Second market

    21%

    The remaining certifications and the second named market.

  • Claims & campaign ops

    13%

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

Operating week

What “in market” actually looks like.

  1. SunOwnersWho can decide messaging and budget on a recorded line. If the answer is nobody, stop.
  2. FriKill switchRehearse unpublish in 24 hours. If it takes a committee, it is not a switch.
  3. WedCounselPerimeter diffs. If the site drifted from the memo, the site moves — not the memo.
  4. SatDarkNo creators. No threads. Restricted geos stay dark.

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
An offtaker has retired a certificate via this event.
Switching cost
Network effects only if a second named counterparty writes. One customer is a service firm.
Vs the comps
National GO registries are slow. That slowness is the budget.
Why we listed it
They did not lead with climate Twitter.

Next twelve months

What has to be true.

Counsel on commodity vs software — one memo.

A redacted engagement letter landed in week one. That is why the desk took the meeting.

If they raise, it is to hire the remaining certifications and the second market — not to float a coin.

Traction

What you can verify today.

Founded 2026, headquartered in Paris. No named paying pilot on the file yet — that is the first question. Desk diligence score 59/100. A transfer agent willing to consume a revoke in production. A redacted engagement letter landed in week one. That is why the desk took the meeting.

  • Architecture paper — no production customer on the public file
  • No token contract listed as a public sale
  • Pilot letters on file, identities redacted
  • Paris 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.”

  • Product20
  • Customers18
  • Legal path24
  • Tech maturity28
  • Demand10
  • Market access90

Risks

What can kill it.

The one that actually kills it

The founder wants a public book

The moment Vetch Ridge 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, Vetch Ridge is a liability. Dual-record or nothing.

Facts vs theatre

A proof of a fake book is still a fake book. Vetch Ridge has to attach to the real one, in Paris.

Ask these next

  1. 01What does renewal look like if no round ever happens?
  2. 02Who can unpublish a public sentence in 24 hours, by name?
  3. 03Which incumbent can copy this in a quarter, and what would they have to migrate?
  4. 04If RCA Pad disappeared tomorrow, could the customer still run the job?
  5. 05Has counsel written the perimeter in a memo you can file?
  6. 06Which geography is actually locked, and which is a hope?

Structure

How money would actually move.

Too early to talk about a round on this pad. Screen first. A path has to be named by counsel before anyone should wire.

Entity
Vetch Ridge SAS
Path on file
Undetermined — not a path
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.

  • Francenamed
  • EEA professionalnamed
  • United Kingdomnamed
  • Public residual claimsrestricted
  • United Statesrestricted

Team

Who runs it.

  • Oskar OkoyeChief executive
  • Kofi BergChief executive

Stack

  • Certificate ledger
  • Energy certificates
  • Approval trail
  • Audit log

Named with them

  • Northbridge Counsel

Who can decide

Oskar Okoye came in named. The team is not a handle. Vetch Ridge SAS exists, founded 2026, headquartered in Paris. 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.

StatementEvidenceStatus
Vetch Ridge does not sell a token to the public on this padPosture locklive
The product is energy certificates sold to institutionsArchitecture + customer typedraft
Certificate ledger is the method — not a listed assetPaper onlydraft
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: France, EEA professional, United KingdomNamed markets on the filedraft

On the record

  1. Application APP-4587ScreenSep
  2. Counsel questionPathSep

Operating log

  1. 06 Sep 10:00

    Application scored. Vetch Ridge is not a calendar slot.

  2. 11 Sep 10:12

    Counsel question sent. Name a path or lock not-offering.

Path to now

  1. Now

    Screen

    Calendar is never automatic.

  2. Next

    Counsel or close

    A named path, or a locked not-offering.

Not a subscription

This is not a sale page.

Too early to talk about a round on this pad. Screen first. A path has to be named by counsel before anyone should wire. 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

VELMVellum ProtocolSettlement rails for private credit funds. Campaign live. No public token sale.KITEKite LedgerTrade-finance records on a permissioned L2. Live waitlist. Allocation is not on this pad.PLSDPalisade IDPermissioned identity for funds. Live in the EEA professional lane. No token, no sale.NRTLNorthlineOn-chain fund admin. Day 8 of 14. The pack is the product. Pathway locked: not offering.