Quick take:
Quai Network offers a scalable, programmable proof-of-work layer-1 blockchain with a decentralised energy dollar.Â
Penomo offers a platform that allows developers to tokenise renewable energy assets.
This partnership will enable the tokenisation of renewable energy assets like solar panels, wind turbines, and batteries— into micro-shares.
Quai Network, the layer-1 blockchain that features a decentralised energy dollar and a “scalable proof-of-work design” has announced a partnership with Penomo, the Web3 platform for tokenising renewable energy assets.
The two companies will collaborate to enable the tokenisation of renewable energy assets like solar panels, wind turbines, and batteries— into micro-shares.
The companies want to promote scalability and throughput for greater financial accessibility and enhanced liquidity in green energy investments.
According to the press material shared with NFTgators, the two companies believe that by leveraging Quai Network’s multi-shard design to enable micro-share trading, they can reduce the reliance on traditional bank financing, lower costs, and accelerate clean energy development.
“By leveraging Quai’s unique scaling capabilities, Penomo is advancing renewable energy adoption and making sustainable infrastructure more accessible, positioning Quai as a leader in driving environmental and economic transformation,” the companies said in the press release.
Commenting on the partnership, Alan Orwick, Co-Founder of Quai Network said in a statement: “Our partnership with Penomo exemplifies how tokenizing renewable energy can accelerate clean energy adoption, providing a model for how the industry can innovate to contribute positively to global sustainability efforts. This initiative not only democratizes investment in green technology but also fosters a new era of decentralized finance focused on environmental stewardship.”
The companies also believe that through fractional ownership, they will open up renewable energy projects to a global investor base, by enabling investors with varying capital levels to participate in the economic models of various projects.
“Quai is thinking differently and tackling Layer 1 challenges with bold innovation, like its Proof-of-Entropy-Minima consensus and its tie to energy prices. At Penomo, we’re addressing the broad spectrum of on-chain and off-chain finance needs, focusing on energy infrastructure finance,” said Jasvir Dhillon, CEO of Penomo.
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