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Sandton, South Africa, May 17, 2022 (GLOBE NEWSWIRE) — A day before its anticipated listing on the P2PB2B global crypto exchange on Tuesday 17 May, Sinan Energy has concluded an agreement to supply renewable energy to one of the largest Chlor-Alkali manufacturing plants in the Southern hemisphere. The deal will see Sinan provide over 1.24 billion kWh of tokenized energy over a twenty-year period through its blockchain platform. The energy will be sourced from its own renewable energy plants which are planned to start construction in Q3 2022.
The energy, to be produced from decentralized renewable sources including solar and wind, will displace dirty fossil-fired power that is produced by the national centralized utility from old coal-fired power plants. The carbon emission reduction is therefore maximized, and it is anticipated that Sinan Energy will prevent over one million tons of harmful CO2 from being emitted into the atmosphere.
Sinan Energy’s blockchain platform enables it to tokenize, record, and verify carbon credits generated from its plants. This allows it to achieve international certification and trade carbon credits on the global carbon market. By integrating renewable energy and blockchain architecture, Sinan Energy has created twin revenue streams through the sale of energy and tokenized carbon credits.
The…
Full story available on Benzinga.com
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