Foundation fund

Token aims to raise funds for algae biomass protein farms

Algaecoin is an asset-backed token that wants to help fund sustainable algae projects.

The world now has its first blockchain-based algae biomass project. It is built on the Tezos blockchain, which is energy efficient.

Sustainable Impact Token (SIT) aims to develop, build and operate algae biomass farms. SIT says they will use blockchain technology to “bridge the gap between two of the fastest growing investor markets in the world – asset-backed finance and crypto.”

Algaecoin and carbon credits

SIT’s algae biomass farms can produce high quality non-animal protein, using renewable energy. Algae farms can absorb large amounts of carbon from the atmosphere.

Myles Milston is the CEO of Globalcap, which helped find investors for the project. “Being part of this pioneering project marks an important step in our ongoing mission to enable frictionless asset creation and transferability. With Globacap, the fundraising process is completely digital, mostly automated, transparent, secure and compliant. Our work with SIT and Tezos is transformational in how this market can work. »

$5 Billion Algae Biomass Industry Set to Grow by One 6.3% CAGR in the next 5 years. SIT says it provides investors with “tokens issued via smart contracts deployed on the Tezos proof-of-stake blockchain, representing their preferred shares in the project. Carbon credits generated from algae production will also be tokenized into Algaecoin, a tokenized asset representing tradable carbon credits.

Milston adds, “By bringing agri-tech solutions and carbon credit-backed assets to private markets and beyond, we can make significant and impactful steps towards the sustainability of our planet for future generations.

Tezos involvement

Mason Edwards works for the Tezos Foundation. “As solutions to the macroeconomic challenges of food scarcity and sustainable energy production continue to be a global priority, the demand for investment vehicles that can also support these goals is growing.”

Peter Henderson is the chairman of Sustainable Impact Token. “Our vision is to play our part in addressing some of the real challenges of our time – how can the world’s growing population be adequately and nutritiously fed and can this ambition be achieved in a way that enhances rather than detracts from We are convinced that our approach is useful on all these fronts and know that the investment community is eager to join us in this adventure.

“SIT presents a unique investment opportunity that builds on our three fundamental pillars: food security, renewable energy and reducing carbon emissions. We wanted to structure the offer according to an innovative, transparent and secure approach. Investors are offered an attractive return, in a real asset, but through digital technology – and they can make their investments via fiat or cryptocurrencies. The token offering went to market incredibly smoothly, which is a credit to our partners at Globalcap, Tezos and Lumin Capital.”

Carbon credits

The University of Cambridge recently launched the Cambridge Center for Carbon Credits (4C). This creates a decentralized market on Tezos. People who buy carbon credits can finance reliable nature-based projects. This way they can link corporate funds and custody, using automated and transparent global oracles.

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