peaq and penomo Partner to Tokenize EV Batteries for Green Energy
peaq, the pioneering blockchain for real-world functions, is teaming up with penomo to create a community of tokenized batteries. penomo, a platform specializing in monetizing sustainable power companies, particularly these reusing or recycling electrical automobile (EV) batteries, will remodel these batteries right into a decentralized bodily infrastructure community (DePIN). This community will reward Web3 traders by producing earnings via avenues like carbon credit score gross sales.
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Lithium-ion batteries are important for inexperienced power storage and EVs however come at an environmental price because of lithium extraction. Sustainable power and battery recycling corporations wrestle to safe income and liquidity, hampering the transition to eco-friendly power.
penomo gives a streamlined answer for eco-conscious power companies. By tokenizing their batteries, these companies can entry world capital and liquidity by sharing future revenues with the Web3 investor neighborhood. They will additionally capitalize on carbon credit score gross sales and carbon credit score futures, creating three potential income streams.
penomo leverages peaq’s core capabilities, together with multi-chain IDs and peaq pay, for fractional possession inside its DePIN.
With peaq’s help, penomo’s app tokenizes batteries, distributes investor rewards, and facilitates on-chain carbon credit score gross sales.
penomo, incubated by EoT Labs, already boasts 4 letters of intent with power storage and recycling corporations, together with Evyon. Discussions for paid proof-of-concept and co-development are underway with main multinational enterprises, supported by endorsements from ten distinguished corporations, together with automakers and power companies.
Jasvir Dhillon, penomo’s co-founder, can be main a Fraunhofer HHI challenge utilizing AI to reinforce EV battery sustainability. “It’s encouraging to see a lot market pull for penomo’s answer,” says Jasvir. “A number of decision-makers from related corporations are reaching out to us themselves, although we’re but to spend a dime on advertising.”
“We’re thrilled to be constructing an answer that embraces the regenerative finance concepts by merging sustainability with enterprise innovation. As a layer-1 constructed for DePINs, peaq is the proper dwelling for a challenge like this, bringing useful pre-built capabilities and tailored economics to the desk,” added Jasvir.
Until Wendler, co-founder of peaq, acknowledges penomo’s function in addressing sustainability challenges inside the power storage sector. He emphasizes the chance for the Web3 neighborhood to put money into sustainability and for companies to undertake peaq’s blockchain.
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About penomo
penomo is a monetization platform for sustainable power storage and EV battery recycling corporations. It permits companies to tokenize their batteries, add them to a decentralized bodily infrastructure community, and supply tokens to the worldwide Web3 neighborhood. Traders obtain a share of battery-generated revenues. penomo additionally permits the sale of battery knowledge, carbon credit, and carbon credit score futures on a borderless Web3 market.
About peaq
peaq is a blockchain designed for real-world functions, empowering the creation of decentralized functions (dApps) and Decentralized Bodily Infrastructure Networks (DePINs). It collaborates with trade consortia, comparable to Gaia-x moveID, to form the way forward for sensible mobility, power, connectivity, and different important real-world industries. peaq goals to democratize abundance within the age of AI-driven automation by enabling possession, governance, and earnings from the units and infrastructure used.
