Tokenization Firm Aims to Fund Midsize Renewable Energy Projects
The U.S. renewable energy sector faces challenges in securing financing for mid-sized projects, valued under $100 million. Enter Plural Energy, a two-year-old tokenization firm, which is facilitating fundraising on-chain, allowing a broader range of investors to partake in renewable energy assets. Plural's co-founder, Adam Silver, criticized the current capital-raising processes, claiming they hinder climate goals. The firm has so far greenlit five projects worth $40 million, with a success rate of only 5% but robust demand from investors looking to contribute to renewable energy. Investors can choose various securities, including common equity or convertible notes, with investment amounts ranging from $500 to $50,000. Plural serves as a registered transfer agent, ensuring SEC compliance through its tokenized securities and associated cap tables. Plural aims to streamline fundraising and enhance transparency in the renewable energy sector, striving for a future where investing in clean energy assets is as straightforward as managing traditional bank accounts.
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