BuildCoin & PetaWatt Unite to Deliver Additional Renewable Energy Sources to Market Through Blockchain Technology
by Justin Hughes
ZUG, SWITZERLAND & NEW YORK, NY — The BuildCoin Foundation broadcast its new partnership with PetaWatt to maintain its mission to fund and execute sustainable innovative infrastructure projects through its blockchain ecosystem.
PetaWatt matches renewable and distressed power generation sources with medium to large-scale energy consumers that require significant, constant power at low cost by working with renewable energy providers. 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.
John Cronin, president, BuildCoin Foundation, said, “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. 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.”
Petawatt plans to leverage BuildCoin’s security token to deliver an innovative financing option for its power plants and facilities. The BuildCoin security token will renovate financing for infrastructure projects by broadening the investor base through global exposure, speed transaction execution, and lower fees through the minimization of financial middlemen. Petawatt will also apply the BuildCoin blockchain platform to track payments and performance for the buildout and renovation of its facilities.
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. The BuildCoin Ecosystem modernizes infrastructure project origination and execution. The blockchain platform offers transparency and immutability, process integrity and disintermediation, lower costs and faster transactions, and access to high-quality data to participants.
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.