BuildCoin and PetaWatt Team to Deliver More Renewable Energy Sources to Market Using Blockchain Technology
Furthering its mission to fund and execute sustainable innovative infrastructure projects through its blockchain ecosystem, the BuildCoin Foundation is pleased to announce its new partnership with PetaWatt.
WASHINGTON, Oct. 30, 2018 /PRNewswire-PRWeb/ -- Working with renewable energy providers, PetaWatt aligns renewable and distressed power generation sources with medium to large-scale energy consumers that require significant, constant power at low cost. PetaWatt is combining three relevant existing businesses that will serve to provide a complete, vertically integrated energy, infrastructure and service provider to high energy demand users, including crypto miners, hydroponics operators and data centers.
Petawatt will leverage BuildCoin's security token to provide an innovative financing option for its power plants and facilities. The BuildCoin security token will transform financing for infrastructure projects by broadening the investor base through global exposure, speed transaction execution, and lower fees through the reduction of financial middlemen. Petawatt will also you utilize the BuildCoin blockchain platform to track payments and performance for the buildout and renovation of its facilities.
"PetaWatt's innovative business model pairs crypto miners with struggling renewable energy producers to help them stay financially viable as they look to grow demand for their energy," said John Cronin, president, BuildCoin Foundation. "There has been much negative press around crypto mining because of the massive energy consumption, but in the PetaWatt model crypto mining becomes a catalyst to help renewable energy grow and prosper. Petawatt intends to use the BuildCoin security token to finance their larger projects and our blockchain platform to execute their projects. This partnership helps achieve the mission and vision of both organizations."
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About the BuildCoin Foundation:
The BuildCoin Foundation is a non-profit provider of a blockchain ecosystem for public infrastructure and construction projects based in Zug, Switzerland. Our BuildCoin Ecosystem modernizes infrastructure project origination and execution. Our blockchain platform offers transparency and immutability, process integrity and disintermediation, lower costs and faster transactions, and access to high-quality data to participants. Visit http://www.buildcoinfoundation.org.
About PetaWatt:
PetaWatt is a vertically integrated energy, facilities & service provider to high demand energy consumers, such as blockchain crypto miners, hydroponic operators, and data centers. Visit http://www.petawattgroup.com.
SOURCE BuildCoin Foundation
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