Austin, TX – December 10th, 2024 – Quai Network, a Layer 1 blockchain featuring the decentralized energy dollar and a scalable, programmable proof-of-work design, proudly announces its partnership with Penomo, a platform for tokenizing renewable energy assets to streamline financing for developers. This collaboration leverages Quai’s unique multi-shard design to efficiently tokenize and trade micro-shares of renewable energy projects. By enabling unparalleled scalability and throughput, this marks the first-ever Layer 1 blockchain specifically tailored for renewable energy tokenization, paving the way for greater financial accessibility, enhanced liquidity in green investments, and tangible contributions to global sustainability efforts.
This partnership showcases blockchain’s role in sustainability by enabling renewable energy assets—like solar panels, wind turbines, and batteries—to be tokenized into micro-shares. This innovation reduces reliance on traditional bank financing, lowers costs, and accelerates 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.
“As blockchain continues to face criticism for its environmental impact, Quai is rewriting the narrative by showcasing tangible applications that drive sustainability,” said Alan Orwick, Co-Founder of Quai Network. “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.”
Core benefits of the integration include:
Increased Accessibility: Tokenization allows for fractional ownership, enabling investors with varying capital levels to participate in renewable energy projects.
Liquidity Enhancement: By creating a marketplace for tokenized assets, liquidity in green investments is significantly improved, fostering a more dynamic investment environment.
Reduced Financing Costs: Developers can access capital more efficiently without the traditional high costs associated with bank loans or equity financing.
Market Expansion: This opens up renewable energy projects to a global investor base, potentially increasing the scale and speed of sustainable energy infrastructure development.
“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 onchain and off-chain finance needs, focusing on energy infrastructure finance. This partnership combines two unique approaches, and the potential here is immense—we’re excited about what’s ahead,” echoed Jasvir Dhillon, CEO of penomo.
This announcement builds on Quai’s recent milestones, including the launch of its Golden Age Testnet and the addition of Stephen Wolfram as a strategic advisor. Together, these achievements underscore Quai’s role in pioneering scalable, sustainable blockchain solutions that bridge innovation with real-world impact
For more information, visit Quai Network’s website.
About Quai Network
Quai Network is reigniting the crypto revolution, with the first decentralized energy dollar on the only scalable and programmable proof-of-work blockchain. Utilizing the innovative Proof-of-Entropy-Minima (PoEM) consensus mechanism, Quai offers unprecedented speed, efficiency, and decentralization.
About Penomo
Penomo is a platform for revenue-based peer-to-peer CapEx financing for renewable asset developers and operators. It tokenizes renewable hardware such as solar PV systems and EV chargers, transforming them into tradable, liquid assets. By streamlining access to private capital, Penomo reduces costs and accelerates funding timelines for renewable projects.
