Reneum seeks to boost solar and wind farm investments by tokenizing renewable energy certificates.
“It’s a vehicle to bypass traditional capital market failures or inefficiencies to reach the corners of the world that struggle to access funding and deploy more renewable energy,” said Chief Executive Brianna Welsh.
“I see legacy market providers shifting into blockchain quite quickly because they recognize this opportunity with the technology architecture that blockchain enables,” Welsh said.
Reneum promises to revolutionize legacy markets for renewable energy certificates, which are based on anachronistic models that render them inefficient, undersupplied, and unfit for purpose.
Reneum’s blockchain-based marketplace leverages a digitally-native token instrument instead of a paper-based certificate to provide capital to pre-approved renewable projects. Buyers retire these certificates by burning the tokens and receive Eisbaer NFTs containing provenance data to show they’ve greened their energy footprint.
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