Plural Energy secures $2.33 million to make clean energy investments accessible
Plural Energy, a financial technology company and an on-chain investing platform announced that it has secured $2.33 million in pre-seed funding. Necessary Ventures and Compound led the funding round, which also included Volt Capital and Maven11.
The initiative aims to support the global transition to clean energy by facilitating investments through blockchain technology.
Read more: Hong Kong explores digitally native green bonds using blockchain technology
Plural Energy plans to offer its first tokenized investment asset, a portfolio of solar projects developed by Solaris Energy. It aims to make clean energy investments accessible to more investors, cutting beyond traditional financial circles.
Adam Silver, co-founder and CEO of Plural Energy, said the company is “building a new financial system for the clean energy transition that is accessible to all and won’t let access to capital stand in the way of a clean energy future.”
He added that the plan is to connect all types of investors to high-quality renewable energy projects so that everyone can benefit from a distributed grid that is powered by renewables.
Its partnership with Solaris Energy is a move towards democratizing finance for smaller-scale renewable projects.
“Working with Plural, we see a path towards the democratization of solar finance where anyone can become a part of the revolution that is greening the energy sector,” said Alex Blackmer, CEO and Co-Owner of Solaris.
Plural Energy’s statement added, “$4 trillion more dollars needs to be invested into clean energy by 2030 to reach global climate goals. Plural is doing its part to close this funding gap by allowing investors direct access to renewable energy investments.”
Necessary Ventures highlighted the profitability and stability of renewable investments. Its Founder and Managing Partner, Neil Devani, said, “Investing in renewable assets has been highly profitable and stable for institutional investors, consistently generating double-digit IRRs domestically and abroad. It’s time to unlock this opportunity for all investors.”
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