Place/Date: - September 29th, 2021 at 8:15 pm UTC · 3 min read
Contact: EcoWatt, Source: EcoWatt
Led by Thomas Puskas & Paul Flynn the founders of EcoWatt, a socially-minded next-generation renewable energy company that aims to disrupt the green energy market by leveraging the blockchain and loyal crypto community to accelerate the shift to green & sustainable energy. Currently, they are preparing the launch of its Initial Exchange Offering which will be listed on Bitforex in October 2021 with an estimated market cap of 60 million USD at launch.
Global electricity demand is growing day by day and along with the rising pollution & the unequal distribution. The global electricity market is mainly controlled by governments and hedge funds. This creates scarcity and inaccessibility to retailers and other small-scale consumers. EcoWatt aims to disrupt the unequal supply chain of electricity to make it accessible to the retail community, which they believe is for the first time ever.
EcoWatt brings in a balance between its profit aims and social/environmental responsibilities. It makes crypto mining green by offsetting the carbon impact with renewable alternatives.
It produces and sells carbon credits and addresses issues in the supply chain by selling green electricity to national grids. EcoWatt realizes its social responsibility by planting millions of trees for reforestation programs. It supports sustainable farming projects in Sub-saharan Africa. In addition to this, it leverages its green asset portfolio to offer low-cost loans for a minimal margin to its Token staking community. EcoWatt has a mining pool target of 1 billion Watt and it will be saving 750,000 Tons of CO2 emissions per year. Facilitating everyday people to make an environmental impact by holding the tokens.
EcoWatt is working with Trees for the future to plant one million trees and to help 500 families develop sustainable farming plots. The World Bank (IFC) has invited EcoWatt as one of their first ESG companies. The company is also a signatory of UN SDG’s sustainable development goals.
Paul Flynn, the co-founder of EcoWatt who was a UN SDG panel speaker is also a member of Top Tier Impact, an organization that has activists and business persons contributing towards sustainability. The Regional Director for India in the R20 foundation is also an advisor to EcoWatt. The company is also working to become a formal member of the foundation.
Currently, they are preparing the launch of its Initial Exchange Offering which will be listed on Bitforex in October 2021 with an estimated market cap of 60 million USD at launch.
EcoWatt – a blockchain enterprise solution to make crypto green again, with a tangible green asset portfolio that includes solar, wind, hydrogen and geothermal power plants. It is the first of its kind in the niche and its portfolio also increases the value, utility and price of its token. Their premiere use case is to offset carbon emissions and make enterprise partners green with carbon credits verified on the blockchain. To reduce the carbon impact in i.e. crypto mining, EcoWatt uses green electricity and carbon offsetting that it receives from planting trees to generate Carbon Credits.
The EcoWatt tokens are backed by green power assets that turn sunshine into clean power and hold government contracts for up to 20 years.
Currently one EWT = one Watt. The business model of the company creates three sustainable recurring revenue systems which will be used to increase the value of the token to more and more Watts and thereby increasing its utility. EcoWatts Energy’s vision is to stimulate the transition to a 100% sustainable planet and contribute to the UN Agenda for 2030.